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Best Medical Device Stocks to Buy Now (2024)
Top medical device stocks in 2024 ranked by overall Zen Score. See the best medical device stocks to buy now, according to analyst forecasts for the medical devices industry.

Industry: Medical Devices
Ticker
Company
Exchange
Industry
Zen Score
Market Cap
Price
1d %
EBITDA
P/E
D/E
SMLR
SEMLER SCIENTIFIC INC
NASDAQ
Medical Devices
$184.64M$26.262.06%$24.70M8.58x0.09
INMD
INMODE LTD
NASDAQ
Medical Devices
$1.44B$17.14-1.55%$217.89M7.23x0.10
TCMD
TACTILE SYSTEMS TECHNOLOGY INC
NASDAQ
Medical Devices
$345.75M$14.651.74%$22.31M11.81x0.45
VMD
VIEMED HEALTHCARE INC
NASDAQ
Medical Devices
$303.85M$7.84-0.51%$36.68M29.04x0.36
MDT
MEDTRONIC PLC
NYSE
Medical Devices
$106.98B$80.571.37%$8.88B25.58x0.75
EW
EDWARDS LIFESCIENCES CORP
NYSE
Medical Devices
$52.26B$86.961.19%$1.79B37.65x0.40
NSYS
NORTECH SYSTEMS INC
NASDAQ
Medical Devices
$46.40M$16.943.01%$8.00M6.69x1.13
BRKR
BRUKER CORP
NASDAQ
Medical Devices
$10.75B$78.050.37%$659.80M26.73x2.06
IRMD
IRADIMED CORP
NASDAQ
Medical Devices
$536.40M$42.363.32%$22.50M31.15x0.29
DXCM
DEXCOM INC
NASDAQ
Medical Devices
$50.70B$131.520.62%$916.70M93.94x2.03
PODD
INSULET CORP
NASDAQ
Medical Devices
$11.50B$164.42-1.10%$323.60M55.55x2.53
ABT
ABBOTT LABORATORIES
NYSE
Medical Devices
$185.79B$107.07-0.20%$10.54B32.64x0.89
ZBH
ZIMMER BIOMET HOLDINGS INC
NYSE
Medical Devices
$24.77B$120.781.13%$2.22B24.60x0.72
ALGN
ALIGN TECHNOLOGY INC
NASDAQ
Medical Devices
$22.59B$300.820.62%$816.71M51.69x0.68
GMED
GLOBUS MEDICAL INC
NYSE
Medical Devices
$6.94B$51.251.79%$290.00M47.02x0.27
PEN
PENUMBRA INC
NYSE
Medical Devices
$7.86B$203.000.14%$106.91M85.65x0.32
STE
STERIS PLC
NYSE
Medical Devices
$19.85B$200.900.70%$1.39B35.18x0.78
KIDS
ORTHOPEDIATRICS CORP
NASDAQ
Medical Devices
$711.19M$30.20-0.36%-$4.13M-32.83x0.16
QTRX
QUANTERIX CORP
NASDAQ
Medical Devices
$620.44M$16.302.97%-$39.08M-18.95x0.23
RPID
RAPID MICRO BIOSYSTEMS INC
NASDAQ
Medical Devices
$37.02M$0.87-2.13%-$52.34M-0.71x0.22
BWAY
BRAINSWAY LTD
NASDAQ
Medical Devices
$78.95M$4.75-2.46%-$1.45M-18.27x0.51
SYK
STRYKER CORP
NYSE
Medical Devices
$124.60B$327.680.69%$4.07B39.29x1.15
SWAV
SHOCKWAVE MEDICAL INC
NASDAQ
Medical Devices
$12.29B$328.60-0.12%$194.70M81.95x1.34
AXGN
AXOGEN INC
NASDAQ
Medical Devices
$296.39M$6.865.54%-$13.33M-13.45x1.06
AXNX
AXONICS INC
NASDAQ
Medical Devices
$3.41B$66.84-0.16%$3.12M-557.00x0.13
VREX
VAREX IMAGING CORP
NASDAQ
Medical Devices
$682.40M$17.060.41%$101.70M15.37x1.16
LFWD
LIFEWARD LTD
NASDAQ
Medical Devices
$41.55M$4.892.30%-$20.30M-1.89x0.36
ELMD
ELECTROMED INC
NYSEMKT
Medical Devices
$135.27M$15.728.41%$6.01M33.45x0.16
BSX
BOSTON SCIENTIFIC CORP
NYSE
Medical Devices
$99.79B$68.021.02%$3.45B62.98x0.81
SNN
SMITH & NEPHEW PLC
NYSE
Medical Devices
$10.69B$24.362.18%$1.11B40.33x0.91
SGHT
SIGHT SCIENCES INC
NASDAQ
Medical Devices
$266.10M$5.374.68%-$48.41M-4.71x0.39
NSPR
INSPIREMD INC
NASDAQ
Medical Devices
$44.80M$1.91-8.61%-$19.62M-2.33x0.21
CVRX
CVRX INC
NASDAQ
Medical Devices
$307.43M$14.69-1.41%-$38.73M-7.38x0.52
HYPR
HYPERFINE INC
NASDAQ
Medical Devices
$61.16M$0.852.41%-$43.18M-1.37x0.12
CNMD
CONMED CORP
NYSE
Medical Devices
$2.23B$72.61-0.04%$136.80M34.58x1.76
INSP
INSPIRE MEDICAL SYSTEMS INC
NYSE
Medical Devices
$6.66B$225.22-1.75%-$15.66M-312.81x0.18
ITGR
INTEGER HOLDINGS CORP
NYSE
Medical Devices
$3.90B$116.650.03%$270.75M42.89x0.94
OM
OUTSET MEDICAL INC
NASDAQ
Medical Devices
$118.18M$2.340.86%-$152.52M-0.67x1.55
LUNG
PULMONX CORP
NASDAQ
Medical Devices
$285.18M$7.40-1.46%-$52.81M-4.63x0.50
NURO
NEUROMETRIX INC
NASDAQ
Medical Devices
$9.08M$4.575.54%-$6.47M-0.73x0.07
SIBN
SI-BONE INC
NASDAQ
Medical Devices
$638.96M$15.560.91%-$34.45M-13.77x0.36
LIVN
LIVANOVA PLC
NASDAQ
Medical Devices
$2.91B$54.013.21%$38.38M163.67x0.90
MASI
MASIMO CORP
NASDAQ
Medical Devices
$7.11B$134.32-0.33%$186.40M87.22x1.23
RXST
RXSIGHT INC
NASDAQ
Medical Devices
$1.94B$52.341.47%-$41.04M-37.12x0.14
AEMD
AETHLON MEDICAL INC
NASDAQ
Medical Devices
$3.88M$1.481.37%-$11.89M-0.29x0.37
PRCT
PROCEPT BIOROBOTICS CORP
NASDAQ
Medical Devices
$2.61B$51.191.99%-$98.08M-22.85x0.44
UFPT
UFP TECHNOLOGIES INC
NASDAQ
Medical Devices
$1.63B$213.082.48%$68.95M36.18x0.41
TMDX
TRANSMEDICS GROUP INC
NASDAQ
Medical Devices
$2.83B$86.512.79%-$6.66M-112.35x4.15
NNOX
NANO-X IMAGING LTD
NASDAQ
Medical Devices
$521.16M$9.024.88%-$50.96M-8.35x0.12
RCEL
AVITA MEDICAL INC
NASDAQ
Medical Devices
$219.79M$8.55-1.04%-$32.79M-6.11x1.26
NARI
INARI MEDICAL INC
NASDAQ
Medical Devices
$2.20B$37.93-1.71%$15.18M-1,264.33x0.45
BFLY
BUTTERFLY NETWORK INC
NYSE
Medical Devices
$150.06M$0.72-5.75%-$123.04M-1.11x0.38
SILK
SILK ROAD MEDICAL INC
NASDAQ
Medical Devices
$682.03M$17.410.52%-$45.08M-12.09x0.76
CTKB
CYTEK BIOSCIENCES INC
NASDAQ
Medical Devices
$758.78M$5.80-2.03%-$4.41M-64.44x0.26
PACB
PACIFIC BIOSCIENCES OF CALIFORNIA INC
NASDAQ
Medical Devices
$418.00M$1.560.65%-$277.28M-1.29x1.49
MASS
908 DEVICES INC
NASDAQ
Medical Devices
$183.97M$5.590.18%-$34.03M-4.95x0.23
NPCE
NEUROPACE INC
NASDAQ
Medical Devices
$396.82M$14.000.14%-$22.83M-11.02x4.21
CODX
CO-DIAGNOSTICS INC
NASDAQ
Medical Devices
$35.95M$1.150.00%-$36.83M-0.96x0.11
MXCT
MAXCYTE INC
NASDAQ
Medical Devices
$412.35M$3.960.25%-$33.36M-10.70x0.16
NVCR
NOVOCURE LTD
NASDAQ
Medical Devices
$1.27B$11.83-2.15%-$221.90M-6.07x2.16
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
NASDAQ
Medical Devices
$2.27B$28.981.05%$258.15M34.09x1.38
SRTS
SENSUS HEALTHCARE INC
NASDAQ
Medical Devices
$55.58M$3.393.04%$1.11M113.00x0.10
TELA
TELA BIO INC
NASDAQ
Medical Devices
$112.65M$4.57-3.79%-$40.63M-2.24x3.13
NVNO
ENVVENO MEDICAL CORP
NASDAQ
Medical Devices
$65.39M$4.916.28%-$22.97M-2.57x0.05
CLPT
CLEARPOINT NEURO INC
NASDAQ
Medical Devices
$148.64M$5.513.38%-$21.02M-6.12x1.02
ICAD
ICAD INC
NASDAQ
Medical Devices
$40.34M$1.52-1.30%-$3.94M-8.00x0.24
PROF
PROFOUND MEDICAL CORP
NASDAQ
Medical Devices
$165.84M$7.760.13%-$23.73M-7.81x0.41
IRTC
IRHYTHM TECHNOLOGIES INC
NASDAQ
Medical Devices
$3.52B$113.621.36%-$96.86M-28.12x1.06
ICCM
ICECURE MEDICAL LTD
NASDAQ
Medical Devices
$55.79M$1.220.83%-$15.25M-3.81x0.35
ECOR
ELECTROCORE INC
NASDAQ
Medical Devices
$33.73M$5.62-0.53%-$18.00M-1.64x1.16
QIPT
QUIPT HOME MEDICAL CORP
NASDAQ
Medical Devices
$157.88M$3.758.38%$36.92M-55.97x1.21
INVO
INVO BIOSCIENCE INC
NASDAQ
Medical Devices
$3.40M$1.24-9.49%-$6.88M-0.24x22.40
SRDX
SURMODICS INC
NASDAQ
Medical Devices
$361.45M$25.39-4.15%$22.74M65.10x0.48
LNSR
LENSAR INC
NASDAQ
Medical Devices
$37.03M$3.250.62%-$10.33M-2.48x0.67
AFIB
ACUTUS MEDICAL INC
NASDAQ
Medical Devices
$4.99M$0.17-1.18%-$75.07M-0.06x-62.39
MGRM
MONOGRAM ORTHOPAEDICS INC
NASDAQ
Medical Devices
$69.91M$2.21-1.78%-$13.33M-3.62x0.24
INGN
INOGEN INC
NASDAQ
Medical Devices
$156.29M$6.70-0.74%-$84.19M-1.52x0.59
TNDM
TANDEM DIABETES CARE INC
NASDAQ
Medical Devices
$2.08B$31.734.27%-$194.66M-9.25x2.04
TMCI
TREACE MEDICAL CONCEPTS INC
NASDAQ
Medical Devices
$685.48M$11.101.19%-$36.55M-13.70x0.83
FNA
PARAGON 28 INC
NYSE
Medical Devices
$810.98M$9.79-0.10%-$26.92M-16.88x0.92
HSCS
HEART TEST LABORATORIES INC
NASDAQ
Medical Devices
$6.56M$0.100.00%-$6.00M-0.21x0.25
INBS
INTELLIGENT BIO SOLUTIONS INC
NASDAQ
Medical Devices
$5.71M$2.66-2.92%-$12.02M-0.03x1.73
XTNT
XTANT MEDICAL HOLDINGS INC
NYSEMKT
Medical Devices
$109.38M$0.841.20%$5.08M84.00x0.80
ATEC
ALPHATEC HOLDINGS INC
NASDAQ
Medical Devices
$1.76B$12.791.99%-$110.59M-8.31x9.31
DCTH
DELCATH SYSTEMS INC
NASDAQ
Medical Devices
$135.34M$5.5113.14%-$45.84M-1.87x1.45
ASXC
ASENSUS SURGICAL INC
NYSEMKT
Medical Devices
$68.00M$0.250.00%-$74.39M-0.81x0.77
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
NASDAQ
Medical Devices
$4.50M$5.08-1.36%-$8.89M-0.35x2.27
CERS
CERUS CORP
NASDAQ
Medical Devices
$306.37M$1.690.60%-$23.87M-8.05x2.74
MYO
MYOMO INC
NYSEMKT
Medical Devices
$98.00M$3.447.84%-$7.47M-12.29x0.62
NMTC
NEUROONE MEDICAL TECHNOLOGIES CORP
NASDAQ
Medical Devices
$29.56M$1.14-0.87%-$13.14M-1.68x0.32
ZIMV
ZIMVIE INC
NASDAQ
Medical Devices
$419.53M$15.490.39%-$246.16M-1.04x1.94
NAOV
NANOVIBRONIX INC
NASDAQ
Medical Devices
$2.07M$0.75-6.88%-$3.44M-0.35x0.67
TBIO
TELESIS BIO INC
NASDAQ
Medical Devices
$9.48M$0.321.94%-$40.49M-0.19x171.74
RSLS
RESHAPE LIFESCIENCES INC
NASDAQ
Medical Devices
$3.92M$0.171.21%-$11.21M-0.09x0.60
BMRA
BIOMERICA INC
NASDAQ
Medical Devices
$12.20M$0.73-0.68%-$5.94M-1.96x0.33
ANIK
ANIKA THERAPEUTICS INC
NASDAQ
Medical Devices
$385.36M$25.950.43%-$71.19M-4.60x0.28
TLIS
TALIS BIOMEDICAL CORP
NASDAQ
Medical Devices
$285.17M$9.001.12%-$56.93M-0.26x0.37
SOLV
SOLVENTUM CORP
NYSE
Medical Devices
N/A$62.07-0.21%$2.23BN/A0.20
RBOT
VICARIOUS SURGICAL INC
NYSE
Medical Devices
$47.63M$0.27-5.90%-$68.38M-0.55x0.22
NVRO
NEVRO CORP
NYSE
Medical Devices
$446.60M$12.271.66%-$78.31M-4.79x1.17

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in Apr 2024?

According to Zen Score, the 3 best medical equipment stocks to buy right now are:

1. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the top medical device stock with a Zen Score of 68, which is 41 points higher than the medical device industry average of 27. It passed 21 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock lose -5.34% over the past year, overperforming other medical device stocks by 13 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second best medical device stock with a Zen Score of 65, which is 38 points higher than the medical device industry average of 27. It passed 20 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -54.57% over the past year, underperforming other medical device stocks by -36 percentage points.

Inmode has an average 1 year price target of $27.00, an upside of 57.53% from Inmode's current stock price of $17.14.

Inmode stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Inmode, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Tactile Systems Technology (NASDAQ:TCMD)


Tactile Systems Technology (NASDAQ:TCMD) is the third best medical device stock with a Zen Score of 60, which is 33 points higher than the medical device industry average of 27. It passed 19 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock lose -19.24% over the past year, underperforming other medical device stocks by -1 percentage points.

What are the medical device stocks with highest dividends?

Out of 9 medical device stocks that have issued dividends in the past year, the 3 medical device stocks with the highest dividend yields are:

1. Medtronic (NYSE:MDT)


Medtronic (NYSE:MDT) has an annual dividend yield of 3.43%, which is 2 percentage points higher than the medical device industry average of 1.56%. Medtronic's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Medtronic's dividend has shown consistent growth over the last 10 years.

Medtronic's dividend payout ratio of 87.3% indicates that its dividend yield is sustainable for the long-term.

2. Smith & Nephew (NYSE:SNN)


Smith & Nephew (NYSE:SNN) has an annual dividend yield of 3.08%, which is 2 percentage points higher than the medical device industry average of 1.56%. Smith & Nephew's dividend payout is not stable, having dropped more than 10% ten times in the last 10 years. Smith & Nephew's dividend has not shown consistent growth over the last 10 years.

Smith & Nephew's dividend payout ratio of 124.2% indicates that its dividend yield might not be sustainable for the long-term.

3. Abbott Laboratories (NYSE:ABT)


Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 1.98%, which is the same as the medical device industry average of 1.56%. Abbott Laboratories's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Abbott Laboratories's dividend has shown consistent growth over the last 10 years.

Abbott Laboratories's dividend payout ratio of 63.4% indicates that its dividend yield is sustainable for the long-term.

Why are medical device stocks up?

Medical device stocks were up 0.63% in the last day, and down -2.18% over the last week. Nuwellis was the among the top gainers in the medical devices industry, gaining 29.96% yesterday.

Nuwellis shares are trading higher after the company received a notice of allowance for its U.S. patent application 18/463,612 titled "Venous Blood Flow Stimulator For Extracorporeal Therapy"

What are the most undervalued medical device stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued medical device stocks right now are:

1. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the most undervalued medical device stock based on WallStreetZen's Valuation Score. Inmode has a valuation score of 100, which is 85 points higher than the medical device industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -54.57% in the past year. It has underperformed other stocks in the medical device industry by -36 percentage points.

2. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the second most undervalued medical device stock based on WallStreetZen's Valuation Score. Semler Scientific has a valuation score of 100, which is 85 points higher than the medical device industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Semler Scientific's stock has dropped -5.34% in the past year. It has overperformed other stocks in the medical device industry by 13 percentage points.

3. Tactile Systems Technology (NASDAQ:TCMD)


Tactile Systems Technology (NASDAQ:TCMD) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. Tactile Systems Technology has a valuation score of 86, which is 71 points higher than the medical device industry average of 15. It passed 6 out of 7 valuation due diligence checks.

Tactile Systems Technology's stock has dropped -19.24% in the past year. It has underperformed other stocks in the medical device industry by -1 percentage points.

Are medical device stocks a good buy now?

43% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 23.46% over the next year.

What is the average p/e ratio of the medical devices industry?

The average P/E ratio of the medical devices industry is 29.12x.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.