Now is a great time to investigate some of the top robotics stocks to buy. These companies have attractive valuations and strong growth prospects for the future. Additionally, they are all well-supported by analyst consensus targets for expanding revenues and earnings.

The seven robotics stocks to buy discussed in this article are leaders in the field of robotics and automation, poised to revolutionize industries ranging from manufacturing to healthcare. All present great investment opportunities, poised to deliver long-term growth and shareholder value.

ReWalk Robotics (RWLK)

ReWalk Robotics (NASDAQ:RWLK) specializes in designing, developing, and commercializing exoskeletons for individuals with mobility impairments.

Now might be a good time for investors to buy. The reason is that the key highlights from their 2024 outlook include the expected finalization of Medicare reimbursement for its Exoskeleton. Reportedly, that’s expected by February 2024 with an effective date of April 1, 2024.

Also in the works is a submission of a 510(k) application for the next-generation ReWalk 7 Personal Exoskeleton in the first quarter. That’s in addition to the launch of a new AlterG anti-gravity system model targeted at smaller clinics. 

Trading at just 5.77 times sales, RWLK is one of the top robotics stocks to buy.

Arbe Robotics (ARBE)

Arbe Robotics (NASDAQ:ARBE) is focused on providing 4D imaging radar solutions, primarily for the automotive industry.

This year, the company demonstrated its perception radar technology at CES 2024. Arbe’s technology is capable of more than 100,000 detections per frame and claims to play a pivotal role in advancing autonomous driving technologies​.

For the most recent quarter, the company posted mixed results. In Q3 2023, The company reported revenues of $0.5 million, a decrease from $1.3 million in Q3 2022. Their gross margin was 24.0%, significantly lower than the 72.5% in the same quarter the previous year.

Intuitive Surgical (ISRG)

Intuitive Surgical (NASDAQ:ISRG) produces surgical robots, notably the Da Vinci system. 

ISRG is one of my favorite robotics stocks to buy. The reason is that last year, the company reported approximately 2,286,000 Da Vinci procedures for the year, marking an increase of about 22% compared to the previous year. This growth was attributed to a 25% rise in U.S. general surgery procedures and a 27% increase in procedures outside the U.S.

Also, for 2024, ISRG stock anticipates a 13% to 16% increase in worldwide Da Vinci procedures, and on some measures, it’s undervalued. For example, its trailing P/E ratio is approximately 75 times earnings, and the forward P/E ratio is 57 times earnings. This means that it could be traded at a discount.

Wall Street rates the company as “Buy,” and is forecasting strong revenue and earnings growth.

iRobot (IRBT)

iRobot (NASDAQ:IRBT) is a leader in consumer electronics and is known for its Roomba vacuum cleaners. I believe that now is a good time for investors to scoop up shares of IRBT stock as it navigates a significant corporate restructuring. Colin Angle, co-founder of iRobot, stepped down as Chairman of the Board and CEO but will remain as a senior advisor until May 2024.

The restructuring follows a comprehensive strategy of improving its margins and reducing R&D spending, layoffs, and other measures to get the company back on track.

IRBT anticipates reporting full-year 2023 revenue of $891 million, marking a 25% reduction compared to the previous year. It also expects a GAAP operating loss of between $265 and $285 million. Helping, analysts expect significant revenue growth and earnings per share (EPS) improvement by 2024.

ABB (ABB)

ABB (NYSE:ABB) just raised its full-year sales guidance for 2024, with significant growth in profit and revenue. All outperforming forecasts. It now expects at least a 10% increase in full-year sales, doubling the previous guidance of 5%. 

The company is also investing heavily in the U.S. to boost its growth in the electrification and automation sectors. Part of this effort includes opening a new facility in Wisconsin. Plus, Q3 2023 was strong, with a positive book-to-bill ratio and an operational EBITA margin above 17%. Basic EPS increased by 149%. Cash flow from operating activities saw a 71% increase.

Teradyne (TER)

Teradyne (NASDAQ:TER) just reported a decline in 2023 revenues to $2.676 billion, a 15% decrease from the previous year. Despite this, the company maintained financial health by generating $426 million in free cash flow and returning $468 million to shareholders.

Moving forward, the company provided guidance projecting revenues between $540 million to $590 million. It also expects to report GAAP net income per diluted share of $0.19 to $0.35. Its strategic focus will be particularly on robotics, where market penetration is still under 5%. The company aims to leverage AI to broaden the range of tasks for robots and expand its market reach.

Rockwell Automation (ROK)

Rockwell Automation (NYSE:ROK) is seeing an upward trend in customer order activity and showcasing an encouraging 3.6% year-over-year sales increase in Q1 FY2024. However, its adjusted EPS did see a downturn, decreasing by 17.1% to $2.04 compared to $2.46 in the first quarter of fiscal 2023

The company has set its FY2024 guidance with reported sales growth between 0.5% to 6.5% and adjusted EPS ranging from $12.00 to $13.50. Moving forward, the consensus is that the company will continue to perform strongly this year.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.