Sectors & IndustriesHealthcareMedical Devices

Best Medical Device Stocks to Buy Now (2026)

Top medical device stocks in 2026 ranked by overall Zen Rating. "A" Rated stocks have returned an average of +32.52% per year, and are the best medical device stocks to buy now. Learn More.

According to Zen Ratings, our proprietary rating system that evaluates 115 factors proven to drive growth in stocks and assigns each stock in our system an overall letter grade as well as 7 individual Component Grades for Value, Growth, Momentum, Sentiment, Safety, Financials, and proprietary AI algorithms, the 3 best medical equipment stocks to buy right now are:

Bioventus (NASDAQ:BVS) is the #1 top medical device stock out of 138 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

The Component Grade breakdown for Bioventus (NASDAQ:BVS) is: Value: A, Growth: B, Momentum: C, Sentiment: A, Safety: B, Financials: B, and AI: C.

Bioventus (NASDAQ:BVS) has a Due Diligence Score of 30, which is 3 points higher than the medical device industry average of 27.

BVS passed 10 out of 33 due diligence checks and has average fundamentals. Bioventus has seen its stock lose -13.77% over the past year, overperforming other medical device stocks by 64 percentage points.

Bioventus has an average 1 year price target of $13.00, an upside of 51.52% from Bioventus's current stock price of $8.58.

Bioventus stock has a consensus Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Bioventus, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Electromed (NYSEMKT:ELMD) is the #2 top medical device stock out of 138 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

The Component Grade breakdown for Electromed (NYSEMKT:ELMD) is: Value: B, Growth: C, Momentum: C, Sentiment: A, Safety: A, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 54, which is 27 points higher than the medical device industry average of 27.

ELMD passed 18 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock lose -15.26% over the past year, overperforming other medical device stocks by 63 percentage points.

Electromed has an average 1 year price target of $36.00, an upside of 48.39% from Electromed's current stock price of $24.26.

Electromed stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Electromed, 100% have issued a Strong Buy rating, 0% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Tactile Systems Technology (NASDAQ:TCMD) is the #3 top medical device stock out of 138 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

The Component Grade breakdown for Tactile Systems Technology (NASDAQ:TCMD) is: Value: B, Growth: B, Momentum: B, Sentiment: C, Safety: C, Financials: A, and AI: C.

Tactile Systems Technology (NASDAQ:TCMD) has a Due Diligence Score of 50, which is 23 points higher than the medical device industry average of 27.

TCMD passed 16 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock return 86.74% over the past year, overperforming other medical device stocks by 165 percentage points.

Tactile Systems Technology has an average 1 year price target of $36.00, an upside of 25.35% from Tactile Systems Technology's current stock price of $28.72.

Tactile Systems Technology stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Tactile Systems Technology, 75% have issued a Strong Buy rating, 0% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 6 medical device stocks that have issued dividends in the past year, the 3 medical device stocks with the highest dividend yields are:

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 2.14%, which is 1 percentage points higher than the medical device industry average of 1.12%. 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 64.3% indicates that its dividend yield is sustainable for the long-term.

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.11%, which is 1 percentage points higher than the medical device industry average of 1.12%. 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 66.7% indicates that its dividend yield is sustainable for the long-term.

Iradimed (NASDAQ:IRMD) has an annual dividend yield of 1.14%, which is the same as the medical device industry average of 1.12%.

Iradimed's dividend payout ratio of 39.5% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were up 0.43% in the last day, and up 3% over the last week. Tandem Diabetes Care was the among the top gainers in the medical devices industry, gaining 32.67% yesterday.

Tandem Diabetes Care shares are trading higher after the company reported better-than-expected Q4 financial results. Also, B of A Securities upgraded the stock from Underperform to Neutral and raised its price target from $15 to $30.

Based on the Valuation rating, one of the 7 components of a stocks overall Zen Ratings grade, which evaluates factors including estimated earnings yield, earnings before interest and taxes/enterprise value, cash flow yield, free cash flow to price, and price-to-earnings growth (PEG ratio), the 3 most undervalued medical device stocks right now are:

Inmode (NASDAQ:INMD) is the most undervalued medical device stock based on its Valuation Rating of A. Valuation is one of 7 Component Grades used to calculate the overall Zen Rating.

Inmode has a valuation score of 71, which is 58 points higher than the medical device industry average of 13. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -19.77% in the past year. It has overperformed other stocks in the medical device industry by 58 percentage points.

Bioventus (NASDAQ:BVS) is the second most undervalued medical device stock based on its Valuation Rating of A. Valuation is one of 7 Component Grades used to calculate the overall Zen Rating.

Bioventus has a valuation score of 14, which is 1 points higher than the medical device industry average of 13. It passed 1 out of 7 valuation due diligence checks.

Bioventus's stock has dropped -13.77% in the past year. It has overperformed other stocks in the medical device industry by 64 percentage points.

Conmed (NYSE:CNMD) is the third most undervalued medical device stock based on its Valuation Rating of B. Valuation is one of 7 Component Grades used to calculate the overall Zen Rating.

Conmed has a valuation score of 57, which is 44 points higher than the medical device industry average of 13. It passed 4 out of 7 valuation due diligence checks.

Conmed's stock has dropped -26.37% in the past year. It has overperformed other stocks in the medical device industry by 52 percentage points.

54.44% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 39.41% over the next year.

7.84% of medical device stocks have a Zen Rating of A (Strong Buy), 19.61% of medical device stocks are rated B (Buy), 48.04% are rated C (Hold), 18.63% are rated D (Sell), and 5.88% are rated F (Strong Sell).