Sectors & IndustriesHealthcareMedical Devices

Best Medical Device Stocks to Buy Now (2025)

Top medical device stocks in 2025 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:

Avanos Medical (NYSE:AVNS) is the #1 top medical device stock out of 140 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 Avanos Medical (NYSE:AVNS) is: Value: B, Growth: B, Momentum: F, Sentiment: A, Safety: C, Financials: B, and AI: C.

Avanos Medical (NYSE:AVNS) has a Due Diligence Score of 24, which is -3 points lower than the medical device industry average of 27. Although this number is below the industry average, our proven quant model rates AVNS as a "A".

AVNS passed 7 out of 33 due diligence checks and has weak fundamentals. Avanos Medical has seen its stock lose -48.21% over the past year, underperforming other medical device stocks by -25 percentage points.

Smith & Nephew (NYSE:SNN) is the #2 top medical device stock out of 140 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 Smith & Nephew (NYSE:SNN) is: Value: B, Growth: B, Momentum: C, Sentiment: C, Safety: A, Financials: B, and AI: C.

Smith & Nephew (NYSE:SNN) has a Due Diligence Score of 45, which is 18 points higher than the medical device industry average of 27.

SNN passed 16 out of 38 due diligence checks and has strong fundamentals. Smith & Nephew has seen its stock return 9.84% over the past year, overperforming other medical device stocks by 33 percentage points.

Smith & Nephew has an average 1 year price target of $27.50, a downside of -12.97% from Smith & Nephew's current stock price of $31.60.

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

Electromed (NYSEMKT:ELMD) is the #3 top medical device stock out of 140 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: D, Sentiment: B, Safety: A, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 50, which is 23 points higher than the medical device industry average of 27.

ELMD passed 16 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock return 21.81% over the past year, overperforming other medical device stocks by 45 percentage points.

Electromed has an average 1 year price target of $29.00, an upside of 54.09% from Electromed's current stock price of $18.82.

Electromed stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst 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.

Out of 8 medical device stocks that have issued dividends in the past year, the 3 medical device stocks with the highest dividend yields are:

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.37%, which is 1 percentage points higher than the medical device industry average of 1.13%. Smith & Nephew's dividend payout is not stable, having dropped more than 10% nine times in the last 10 years. Smith & Nephew's dividend has shown consistent growth over the last 10 years.

Smith & Nephew's dividend payout ratio of 79.4% indicates that its dividend yield is sustainable for the long-term.

Medtronic (NYSE:MDT) has an annual dividend yield of 1.51%, which is the same as the medical device industry average of 1.13%. 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 77.1% indicates that its dividend yield is sustainable for the long-term.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 1.35%, which is the same as the medical device industry average of 1.13%. 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 21.9% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were down -1.33% in the last day, and up 0.27% over the last week. Penumbra was the among the top losers in the medical devices industry, dropping -1.31% yesterday.

Penumbra shares are trading higher after several firms raised their respective price targets on the stock.

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 57 points higher than the medical device industry average of 14. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -20.54% in the past year. It has overperformed other stocks in the medical device industry by 2 percentage points.

Conmed (NYSE:CNMD) 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.

Conmed has a valuation score of 43, which is 29 points higher than the medical device industry average of 14. It passed 3 out of 7 valuation due diligence checks.

Conmed's stock has dropped -28.24% in the past year. It has underperformed other stocks in the medical device industry by -5 percentage points.

Tactile Systems Technology (NASDAQ:TCMD) is the third 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.

Tactile Systems Technology has a valuation score of 71, which is 57 points higher than the medical device industry average of 14. It passed 5 out of 7 valuation due diligence checks.

Tactile Systems Technology's stock has dropped -17.19% in the past year. It has overperformed other stocks in the medical device industry by 6 percentage points.

55.24% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 31.95% over the next year.

4.67% of medical device stocks have a Zen Rating of A (Strong Buy), 15.89% of medical device stocks are rated B (Buy), 50.47% are rated C (Hold), 26.17% are rated D (Sell), and 2.8% are rated F (Strong Sell).