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 analysts. On August 8, Leerink Partners analyst Mike Kratky reiterated a Buy rating on PROCEPT BioRobotics Corporation (NASDAQ:PRCT), keeping the associated price target at $83.

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.

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