MAKO Surgical settlement positive for shares, says Piper Jaffray
Piper Jaffray views MAKO Surgical's settlement with Stanmore and the asset purchase of the company’s robotic surgery assets are a positive for shares. Piper says the agreement eliminates the ongoing cost of litigation while strengthening MAKO's portfolio of intellectual property. The firm estimates the cost of the asset purchase under $1M and says it remains a buyer of MAKO shares with an Overweight rating and $23 price target.
Mako got rid of the competition that had sell of 40 million dollar last year for under a million dollar, they must of had a very strong case in the law suite.
The Stanmore product competed with Mako’s RIO Robotic Arm Interactive Orthopedic system, which accounted for $41.2 million in sales last year, or 40 percent of the Fort Lauderdale, Florida-based company’s revenue, according to data compiled by Bloomberg.