Leerink Partners Reiterates a Buy Rating on PROCEPT BioRobotics (PRCT)

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) is one of the best medical device stocks to buy according to analystsOn August 8, Leerink Partners analyst Mike Kratky reiterated a Buy rating on PROCEPT BioRobotics Corporation (NASDAQ:PRCT), keeping the associated price target at $83.

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A medical technician using surgical robotics to perform minimally-invasive urologic surgery in an operating room.

He based the optimistic rating on the stability and growth of PROCEPT BioRobotics Corporation’s (NASDAQ:PRCT) performance, stating that the company reported a 4% sales beat in Q2. This growth was attributed to strong international momentum and higher average selling prices in the US.

The analyst added that the company’s full-year sales guidance was raised slightly despite a softer Q3, and the gross margin guidance was improved as well. This suggests a positive outlook for the rest of the year, according to the analyst.

PROCEPT BioRobotics Corporation (NASDAQ:PRCT) is a commercial-stage surgical robotics company that develops transformative solutions for urology. The company manufactures and sells the AquaBeam Robotic System, which is an image-guided, surgical robotic system used in minimally invasive urologic surgery.

While we acknowledge the potential of PRCT to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than PRCT and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.