On Monday, Monogram Technologies Inc (NASDAQ:MGRM) stock received a new Buy rating from Roth/MKM, accompanied by a $4.00 price target. The analyst from Roth/MKM highlighted the potential of MGRM's mBōs robotics platform to revolutionize surgery with its autonomous cutting capabilities.
This innovation is seen as a direct competitor to Stryker 's (NYSE:SYK) dominant MAKO robotics system, particularly in the area of bone preparation and personalization.
Monogram Technologies has recently submitted for 510k approval, with expectations for a product launch in the United States and India towards late 2025 or early 2026. The analyst noted that robotic assistance in total knee arthroplasty (TKA) procedures is at a critical juncture, with estimates indicating that around 20% of all TKA procedures in 2024 will involve robotic technology.
Despite this, Stryker's MAKO system currently enjoys a near-monopoly, having been used in an estimated 89% of all robotic TKA procedures in 2023, according to Orthopedic Network News (ONN).
The anticipated surge in robotic TKA adoption, which is projected to exceed 50% within the next five years, presents a significant opportunity for new entrants like Monogram Technologies. The firm's mBōs platform is poised to challenge the current market leader and diversify the options available to surgeons and patients alike.
The endorsement of Monogram Technologies by Roth/MKM suggests confidence in the company's ability to penetrate a market that has been largely dominated by a single player. With the mBōs platform potentially offering a new level of surgical precision and customization, Monogram Technologies is set to become a notable player in the medical robotics field.
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