Wells Fargo analyst Larry Biegelsen says Intuitive Surgical (ISRG) yesterday won a lawsuit versus potential competitor Surgical Instrument Service, which might give Intuitive a win in the class action lawsuit because the cases are so similar and are being heard by the same judge. Surgical Instrument accused Intuitive of violating antitrust law by unlawfully stopping its customers from purchasing the company’s “repaired” EndoWrists, the analyst tells investors in a research note. Wells’ consultant believes the case is important primarily because it is a preview of the substance in the bigger class action case, assuming that case moves forward. As such, it views yesterday’s outcome as a positive for Intuitive Surgical and keeps an Overweight rating on the shares with a $687 price target
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