Stratasys, Ltd. (NASDAQ:SSYS), a leading global provider of 3D printing and additive manufacturing solutions, announced that the U.S. Patent Trial and Appeal Board (PTAB) of the United States Patent & Trademark Office (USPTO) has denied Afinia’s requests for inter partes review of three important FDM® technology patents directed to liquefier structure, temperature control, and tool paths for constructing part perimeters.
Inter partes review is a proceeding in which the PTAB reviews the validity of claims in a patent. In denying Afinia’s requests, the PTAB reasoned that Afinia “has not demonstrated a reasonable likelihood of prevailing,” with respect to any of the challenged claims, in the Stratasys patents. This decision is particularly notable in that, based on current PTAB statistics (published by the USPTO), the PTAB denies only about one of four inter partes review requests.
“We are very pleased with the U.S. Patent Trial and Appeal Board’s decision,” said Soonhee Jang, Stratasys Vice President and Chief IP Counsel. “These dismissals are evidence of the strength of our patent portfolio.”
These same three patents are asserted by Stratasys in the case of Stratasys, Inc. v. Microboards Technology, LLC dba Afinia, pending in the United States District Court for the District of Minnesota where Stratasys continues to pursue a relief from the court involving Afinia’s infringement on threeStratasys patents.
Stratasys Inc.’s co-founder and chief innovation officer, Scott Crump, invented Fused Deposition Modeling (FDM), a technology that prints three dimensional objects from computer models by building them up in layers. Stratasys FDM solutions are the most widely adopted 3D printing solutions in the industry. The company will continue to significantly invest in technology, product and solution development, in order to make 3D printing more accessible and widely adopted by current and future users. (Original Source)
Shares of Stratasys closed yesterday at $36.22 . SSYS has a 1-year high of $130.83 and a 1-year low of $33.85. The stock’s 50-day moving average is $37.92 and its 200-day moving average is $62.10.
On the ratings front, Stratasys has been the subject of a number of recent research reports. In a report issued on June 9, Brean Murray Carret analyst Ananda Baruah maintained a Hold rating on SSYS. Separately, on June 5, FBR’s Ajay Kejriwal resumed coverage with a Hold rating on the stock and has a price target of $42.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Ananda Baruah and Ajay Kejriwal have a total average return of -0.2% and -1.1% respectively. Baruah has a success rate of 46.2% and is ranked #2777 out of 3623 analysts, while Kejriwal has a success rate of 59.1% and is ranked #2913.
The street is mostly Neutral on SSYS stock. Out of 12 analysts who cover the stock, 7 suggest a Hold rating and 5 recommend to Buy the stock. The 12-month average price target assigned to the stock is $50.50, which represents a potential upside of 39.4% from where the stock is currently trading.
Stratasys Ltd provides additive manufacturing solutions for the creation of parts used in the processes of designing and manufacturing products and for the direct manufacture of end parts. It offers 3D printers and 3D production systems.