Sectors & Industries HealthcareMedical Devices
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

Overview Zen Score Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

Ticker	Company	Price	Volume	Vol 1d %	SMA 10	SMA 20	SMA 50	SMA 100	SMA 200	RSI	Stochastic %K	Stochastic %D	StochRSI %K	StochRSI %D	MACD	MACD Signal	MACD Histogram	Beta
SMLR	SEMLER SCIENTIFIC INC	$26.61	43,399	43.36%	26.14	27.10	33.08	39.18	34.07	38.92	22.76	25.14	77.80	77.19	-1.70	-2.10	0.41	0.95
INMD	INMODE LTD	$17.23	912,351	-5.94%	17.31	18.24	20.23	21.51	26.58	31.05	11.79	10.76	35.67	28.97	-1.00	-1.02	0.02	1.60
TCMD	TACTILE SYSTEMS TECHNOLOGY INC	$14.13	148,959	-39.20%	14.40	14.79	15.30	14.82	15.31	40.21	26.77	34.78	41.85	54.78	-0.33	-0.29	-0.04	1.13
VMD	VIEMED HEALTHCARE INC	$8.22	136,450	141.79%	8.03	8.25	8.77	8.39	7.98	45.74	58.33	44.93	90.34	89.12	-0.22	-0.25	0.03	0.73
EW	EDWARDS LIFESCIENCES CORP	$85.95	2,926,384	-41.00%	87.34	89.62	90.08	83.39	78.62	37.66	23.16	29.77	28.93	37.95	-1.17	-0.71	-0.46	0.96
MDT	MEDTRONIC PLC	$80.86	6,029,608	21.11%	79.91	81.47	83.40	83.86	81.51	45.47	29.37	27.06	65.34	57.78	-1.12	-1.15	0.03	0.82
NSYS	NORTECH SYSTEMS INC	$17.91	18,416	62.14%	16.99	16.27	13.70	11.82	10.53	74.46	75.92	82.02	58.09	45.84	1.15	1.15	-0.00	0.46
DXCM	DEXCOM INC	$125.81	3,786,909	-55.70%	132.69	135.27	130.87	126.91	115.05	39.16	28.48	44.25	26.63	43.63	-0.82	0.58	-1.40	1.04
PODD	INSULET CORP	$170.26	602,109	10.27%	166.95	169.05	171.49	186.51	187.88	50.86	33.10	28.76	26.09	20.77	-1.51	-1.57	0.06	0.94
ABT	ABBOTT LABORATORIES	$107.27	3,305,053	-7.23%	107.09	108.95	113.53	112.19	106.69	39.77	36.62	35.07	61.63	55.49	-1.74	-1.81	0.07	0.80
GMED	GLOBUS MEDICAL INC	$50.61	579,957	6.51%	50.96	51.64	52.94	52.68	52.42	41.49	13.51	19.77	19.70	26.25	-0.60	-0.52	-0.07	0.88
IRMD	IRADIMED CORP	$40.90	55,432	104.90%	41.38	41.61	42.68	43.74	43.87	43.36	41.55	53.60	60.21	73.42	-0.41	-0.49	0.08	0.83
BRKR	BRUKER CORP	$81.26	982,737	125.83%	80.87	85.16	87.83	79.95	71.94	38.78	28.05	29.94	51.10	52.37	-2.34	-1.85	-0.49	1.10
ZBH	ZIMMER BIOMET HOLDINGS INC	$121.71	1,194,745	8.69%	120.64	123.98	125.77	123.71	120.60	43.63	16.03	16.21	31.78	26.60	-1.83	-1.49	-0.34	0.89
KIDS	ORTHOPEDIATRICS CORP	$29.23	120,953	19.82%	30.13	29.64	28.35	29.02	31.19	49.34	35.27	53.13	6.30	26.65	0.58	0.70	-0.11	1.08
PEN	PENUMBRA INC	$202.04	360,246	23.95%	205.01	211.51	227.67	239.01	241.63	33.66	18.54	22.09	27.80	34.09	-7.10	-7.22	0.12	1.01
STE	STERIS PLC	$205.42	375,940	18.17%	202.01	206.40	220.80	219.15	219.53	42.21	35.97	31.58	89.57	85.12	-5.13	-5.90	0.77	0.88
ALGN	ALIGN TECHNOLOGY INC	$304.82	508,813	-30.42%	305.64	311.69	312.92	289.38	291.97	44.70	33.05	39.62	37.17	44.71	-1.78	-1.08	-0.71	1.53
QTRX	QUANTERIX CORP	$15.58	640,247	147.49%	15.85	18.21	22.58	23.61	23.77	22.14	3.91	6.07	19.34	20.07	-2.14	-2.10	-0.04	1.55
BSX	BOSTON SCIENTIFIC CORP	$72.50	9,460,687	7.84%	69.97	69.10	67.90	63.75	58.08	69.65	81.38	83.35	91.97	95.87	1.29	0.79	0.50	0.90
RPID	RAPID MICRO BIOSYSTEMS INC	$0.96	50,208	913.28%	5.39	5.52	4.98	4.68	4.73	58.37	30.78	30.45	19.78	20.19	0.11	0.15	-0.03	1.14
CNMD	CONMED CORP	$67.22	584,736	-48.52%	70.28	73.92	77.80	89.86	98.41	36.59	20.04	11.61	30.18	15.76	-3.51	-2.69	-0.81	1.28
SWAV	SHOCKWAVE MEDICAL INC	$329.51	436,668	-17.76%	328.60	326.93	294.96	251.63	232.15	75.46	83.10	83.74	17.24	16.19	9.93	12.27	-2.34	1.30
AXNX	AXONICS INC	$66.93	656,211	106.08%	66.87	67.43	67.86	66.03	61.02	41.48	20.82	13.74	46.46	29.72	-0.38	-0.31	-0.08	1.16
SYK	STRYKER CORP	$338.87	1,507,424	44.59%	333.76	340.59	348.48	329.82	305.31	46.73	49.10	46.42	81.19	74.67	-3.92	-3.96	0.05	1.04
BWAY	BRAINSWAY LTD	$5.05	50,850	64.68%	4.91	5.12	5.66	6.00	4.84	45.42	24.30	25.31	61.58	62.15	-0.22	-0.24	0.01	0.88
VREX	VAREX IMAGING CORP	$16.91	187,823	29.67%	17.00	17.39	17.37	18.50	19.11	41.02	15.91	21.43	9.90	16.00	-0.20	-0.15	-0.05	0.92
LFWD	LIFEWARD LTD	$4.77	14,862	-46.49%	4.85	5.05	5.34	5.79	5.41	42.31	16.44	17.19	7.79	5.91	-0.16	-0.15	-0.01	0.70
ITGR	INTEGER HOLDINGS CORP	$114.57	538,124	-7.94%	116.54	116.38	113.07	106.47	95.02	48.97	22.37	37.19	10.62	28.89	0.33	1.16	-0.83	1.16
ELMD	ELECTROMED INC	$16.40	22,195	16.95%	15.42	15.25	15.77	13.14	11.78	58.57	77.24	83.30	75.84	83.61	0.16	-0.01	0.17	0.68
SNN	SMITH & NEPHEW PLC	$24.61	1,590,660	-9.61%	24.22	24.27	25.97	26.65	26.36	47.43	56.70	59.26	77.22	75.48	-0.42	-0.58	0.16	0.84
NSPR	INSPIREMD INC	$1.93	19,526	90.52%	2.03	2.15	2.36	2.53	2.86	36.64	21.61	16.16	42.48	30.46	-0.13	-0.11	-0.02	0.61
SGHT	SIGHT SCIENCES INC	$5.82	392,970	663.51%	10.10	9.94	9.48	7.90	4.99	66.12	70.23	53.65	55.41	38.62	0.35	0.27	0.08	1.89
SIBN	SI-BONE INC	$14.65	358,473	19.02%	15.07	15.32	16.56	18.30	19.42	38.22	15.10	14.13	24.50	23.43	-0.49	-0.49	-0.00	1.10
AXGN	AXOGEN INC	$6.66	261,360	-37.95%	6.75	7.20	8.24	8.28	7.08	35.38	17.99	21.74	52.29	48.44	-0.42	-0.42	0.00	1.27
HYPR	HYPERFINE INC	$0.82	55,048	110.06%	0.85	0.92	1.03	1.05	1.50	35.28	12.98	11.19	35.87	29.27	-0.06	-0.06	-0.01	1.01
INSP	INSPIRE MEDICAL SYSTEMS INC	$243.61	440,840	-27.04%	234.09	229.45	208.12	200.53	201.67	62.87	58.16	53.42	28.46	23.05	8.04	8.19	-0.15	1.35
OM	OUTSET MEDICAL INC	$2.63	794,832	97.29%	2.36	2.27	2.55	3.56	7.14	58.71	68.88	67.97	76.87	80.51	0.01	-0.06	0.07	1.51
NURO	NEUROMETRIX INC	$4.70	8,197	-74.47%	4.19	3.99	3.89	3.60	4.55	67.75	85.03	78.24	85.64	80.66	0.18	0.10	0.08	1.02
LUNG	PULMONX CORP	$7.50	329,623	192.67%	7.44	7.80	9.02	11.02	10.81	36.13	17.12	16.27	31.96	25.30	-0.52	-0.57	0.05	1.58
AEMD	AETHLON MEDICAL INC	$1.37	3,340	-83.10%	1.45	1.55	1.64	1.78	2.12	31.28	20.42	30.84	40.78	51.27	-0.07	-0.06	-0.01	0.47
CVRX	CVRX INC	$15.28	178,190	106.67%	12.13	12.55	12.54	11.68	11.64	43.86	42.18	39.76	60.26	54.52	-0.15	-0.12	-0.04	1.48
MASI	MASIMO CORP	$136.20	391,231	30.74%	136.03	138.69	135.56	128.08	113.76	47.40	34.32	32.81	22.82	20.84	-0.34	0.31	-0.65	0.82
RXST	RXSIGHT INC	$53.26	403,865	132.02%	3.83	3.97	4.20	4.56	4.15	30.95	15.55	13.75	4.03	4.36	-0.16	-0.13	-0.02	1.24
NNOX	NANO-X IMAGING LTD	$8.98	535,193	-22.12%	9.06	9.70	10.05	8.10	8.08	43.96	18.74	19.40	27.46	28.64	-0.27	-0.17	-0.10	1.76
PRCT	PROCEPT BIOROBOTICS CORP	$52.05	593,637	1.22%	51.86	50.62	49.38	47.03	39.80	55.75	59.07	67.41	28.52	42.27	0.98	0.92	0.06	1.39
RCEL	AVITA MEDICAL INC	$8.72	189,863	-33.61%	8.82	11.17	14.56	14.61	14.41	24.12	7.19	5.18	30.20	22.06	-1.92	-1.84	-0.09	1.51
TMDX	TRANSMEDICS GROUP INC	$97.25	1,257,030	97.96%	89.71	88.19	83.44	82.49	72.60	65.71	67.00	59.25	49.23	38.61	2.95	2.47	0.48	1.31
UFPT	UFP TECHNOLOGIES INC	$222.59	58,911	46.41%	216.46	229.33	220.30	195.92	180.93	50.07	23.66	18.15	34.34	20.86	-2.81	-0.23	-2.58	0.79
BFLY	BUTTERFLY NETWORK INC	$0.81	1,196,689	-29.74%	0.78	0.88	1.03	1.02	1.25	42.00	26.56	15.17	52.71	26.92	-0.08	-0.08	-0.01	1.83
NARI	INARI MEDICAL INC	$37.95	1,762,280	58.03%	38.27	40.37	44.66	52.68	57.11	33.74	20.80	19.35	47.16	40.46	-2.09	-2.14	0.05	1.31
SILK	SILK ROAD MEDICAL INC	$18.90	417,504	-7.04%	17.69	17.81	17.53	15.33	15.05	61.92	59.61	46.92	51.82	32.31	0.15	0.13	0.02	1.27
INVO	INVO BIOSCIENCE INC	$1.06	314,233	29.73%	1.22	1.04	1.06	1.10	1.38	49.32	10.95	13.10	35.43	39.24	0.03	0.03	-0.01	1.25
CTKB	CYTEK BIOSCIENCES INC	$6.03	841,196	202.80%	55.72	56.68	53.15	46.86	39.06	61.56	72.05	58.22	82.67	62.42	0.79	0.96	-0.17	1.48
MASS	908 DEVICES INC	$5.76	134,542	8.11%	5.63	6.03	6.61	7.32	6.94	40.34	17.84	12.70	30.27	15.57	-0.32	-0.32	0.00	2.03
LIVN	LIVANOVA PLC	$56.17	714,059	29.05%	54.19	54.18	54.13	51.95	51.99	58.83	82.25	83.52	87.87	87.77	0.44	0.20	0.24	1.08
PACB	PACIFIC BIOSCIENCES OF CALIFORNIA INC	$1.60	8,911,819	11.97%	1.47	2.39	3.62	5.77	7.69	27.27	9.95	7.49	33.52	22.30	-0.71	-0.70	-0.01	1.81
NPCE	NEUROPACE INC	$13.53	223,388	223.35%	13.73	13.80	14.26	13.22	9.99	47.22	14.71	17.60	23.36	16.82	-0.13	-0.09	-0.05	0.79
CODX	CO-DIAGNOSTICS INC	$1.17	113,500	401.46%	1.15	1.17	1.15	1.20	1.21	51.98	26.10	24.00	19.38	7.28	-0.00	0.00	-0.00	0.07
IART	INTEGRA LIFESCIENCES HOLDINGS CORP	$29.24	739,206	65.53%	29.78	31.71	35.21	38.79	39.54	31.19	19.97	19.29	28.63	23.36	-1.85	-1.69	-0.16	0.91
MXCT	MAXCYTE INC	$3.66	341,756	0.46%	1.02	1.06	1.12	1.24	1.16	40.02	35.31	40.42	52.10	62.61	-0.04	-0.04	-0.00	1.54
IRTC	IRHYTHM TECHNOLOGIES INC	$108.64	358,662	-16.11%	112.38	111.90	111.13	109.97	101.47	43.42	24.99	48.81	12.04	42.82	0.24	0.52	-0.28	1.21
TELA	TELA BIO INC	$4.52	118,831	105.25%	4.69	4.87	5.63	6.10	6.87	35.23	16.57	12.27	22.99	16.65	-0.32	-0.31	-0.01	0.95
NVNO	ENVVENO MEDICAL CORP	$5.22	22,184	-52.73%	5.02	5.05	5.55	4.97	4.88	50.65	62.14	65.99	72.68	76.02	-0.07	-0.13	0.06	0.90
PROF	PROFOUND MEDICAL CORP	$7.70	67,057	556.52%	7.84	8.00	8.28	8.45	9.13	40.68	53.55	55.46	66.59	70.96	-0.13	-0.13	0.01	1.15
ICAD	ICAD INC	$1.48	106,473	-22.95%	1.54	1.61	1.64	1.60	1.82	42.01	9.58	13.87	2.36	7.45	-0.04	-0.02	-0.02	1.05
CLPT	CLEARPOINT NEURO INC	$5.33	153,474	-9.09%	5.41	5.82	6.43	6.68	6.14	33.06	12.58	10.45	20.60	19.46	-0.36	-0.33	-0.02	1.12
SRTS	SENSUS HEALTHCARE INC	$3.39	33,734	-29.15%	3.32	3.36	3.79	3.35	3.03	47.18	53.72	46.78	92.76	86.49	-0.09	-0.12	0.03	0.86
ECOR	ELECTROCORE INC	$5.70	5,033	-70.40%	5.64	5.80	6.28	6.34	5.88	43.60	37.58	33.31	81.88	64.17	-0.18	-0.21	0.03	1.24
ICCM	ICECURE MEDICAL LTD	$1.20	69,980	15.56%	1.23	1.25	1.25	1.23	1.09	42.65	39.68	41.27	5.40	5.16	-0.01	-0.01	-0.01	0.84
QIPT	QUIPT HOME MEDICAL CORP	$3.62	60,601	-38.03%	3.66	3.84	4.10	4.43	4.78	35.46	34.82	42.47	72.09	81.63	-0.15	-0.15	0.00	0.50
LNSR	LENSAR INC	$3.00	154,118	101.95%	3.18	3.21	3.79	3.66	3.29	39.61	48.98	66.07	59.58	79.41	-0.14	-0.17	0.03	0.36
TNDM	TANDEM DIABETES CARE INC	$37.05	1,506,973	101.25%	33.57	33.63	30.99	28.26	25.85	64.95	86.55	88.73	93.64	90.80	1.13	0.91	0.23	1.12
MGRM	MONOGRAM ORTHOPAEDICS INC	$2.25	212,187	431.76%	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	1.30
HSDT	HELIUS MEDICAL TECHNOLOGIES INC	$4.09	44,284	764.25%	4.87	5.45	5.56	6.39	7.25	25.41	1.91	4.81	2.14	1.42	-0.38	-0.23	-0.15	0.69
AFIB	ACUTUS MEDICAL INC	$0.16	390,121	59.87%	0.17	0.17	0.19	0.19	0.37	42.64	14.29	19.05	32.60	43.83	-0.01	-0.01	0.00	1.18
TMCI	TREACE MEDICAL CONCEPTS INC	$10.65	351,944	-14.76%	10.92	11.54	12.50	12.50	13.28	35.97	8.97	6.16	13.15	5.37	-0.55	-0.46	-0.09	1.29
HSCS	HEART TEST LABORATORIES INC	$0.10	1,313,329	-18.58%	0.10	0.10	0.12	0.13	0.34	38.96	20.18	28.48	27.40	44.93	-0.01	-0.01	-0.00	-0.16
FNA	PARAGON 28 INC	$9.12	357,816	-35.38%	9.52	10.06	10.75	11.54	12.08	39.01	6.99	7.71	12.44	16.71	-0.46	-0.37	-0.08	1.44
INBS	INTELLIGENT BIO SOLUTIONS INC	$2.80	40,214	-0.38%	2.71	3.14	3.96	3.87	8.59	39.66	16.35	9.65	55.36	32.13	-0.39	-0.39	-0.01	1.32
ATEC	ALPHATEC HOLDINGS INC	$12.59	1,516,563	20.66%	12.63	13.15	13.61	14.32	13.89	41.50	13.50	14.97	25.22	25.88	-0.36	-0.32	-0.05	1.44
DCTH	DELCATH SYSTEMS INC	$5.21	170,723	3.46%	5.11	5.03	4.56	4.30	4.13	57.37	67.25	73.10	59.12	69.48	0.20	0.19	0.02	1.16
SRDX	SURMODICS INC	$25.85	23,946	5.62%	26.26	26.74	28.70	31.56	32.39	38.60	30.22	34.54	67.18	72.08	-0.75	-0.80	0.05	1.01
XTNT	XTANT MEDICAL HOLDINGS INC	$0.93	50,997	-15.28%	0.87	0.90	1.02	1.07	1.10	49.33	73.32	63.84	95.63	95.48	-0.03	-0.05	0.02	0.16
NAOV	NANOVIBRONIX INC	$0.75	13,740	-9.76%	0.76	0.80	0.89	0.95	1.46	39.78	18.47	23.11	77.94	76.83	-0.04	-0.04	0.00	0.51
MYO	MYOMO INC	$3.32	123,384	-22.17%	3.21	3.12	3.28	3.69	2.51	52.27	77.86	81.30	81.63	86.58	0.02	-0.04	0.06	0.99
NVCR	NOVOCURE LTD	$12.80	1,074,026	41.07%	12.25	13.17	14.37	14.18	17.54	44.86	24.09	18.75	49.38	36.81	-0.58	-0.60	0.02	1.18
ASXC	ASENSUS SURGICAL INC	$0.25	686,434	13.40%	0.25	0.26	0.27	0.28	0.29	44.80	24.24	16.28	24.25	11.89	-0.01	-0.01	-0.00	0.94
NMTC	NEUROONE MEDICAL TECHNOLOGIES CORP	$1.12	19,901	-66.34%	1.14	1.18	1.17	1.30	1.19	43.75	21.15	23.72	11.60	16.38	-0.02	-0.01	-0.01	0.58
CERS	CERUS CORP	$1.75	1,018,345	163.11%	1.68	1.74	1.95	1.97	1.89	47.10	30.93	24.08	77.36	55.08	-0.06	-0.08	0.01	1.39
TBIO	TELESIS BIO INC	$0.34	25,028	-4.56%	0.33	0.38	0.45	0.40	0.72	38.95	16.06	13.77	32.85	24.62	-0.04	-0.03	-0.00	1.48
ANIK	ANIKA THERAPEUTICS INC	$25.97	40,322	9.32%	25.72	25.71	25.46	24.20	22.12	55.61	57.53	53.32	65.50	66.40	0.12	0.12	-0.01	0.87
RSLS	RESHAPE LIFESCIENCES INC	$0.16	280,338	-11.80%	0.17	0.17	0.17	0.20	0.45	44.52	44.66	55.55	54.01	72.50	-0.00	-0.00	0.00	1.17
TLIS	TALIS BIOMEDICAL CORP	$9.07	12,620	183.66%	8.92	8.65	8.62	8.28	7.32	59.20	86.47	89.32	71.41	80.82	0.15	0.10	0.05	0.78
BMRA	BIOMERICA INC	$0.53	6,963,559	7,260.59%	0.70	0.76	0.95	0.99	1.03	16.19	5.63	9.04	0.00	1.27	-0.08	-0.07	-0.01	-0.34
AVNS	AVANOS MEDICAL INC	$18.62	212,107	59.86%	18.58	18.96	19.22	19.72	20.53	45.41	20.26	15.29	37.35	23.76	-0.28	-0.21	-0.07	1.12
RBOT	VICARIOUS SURGICAL INC	$0.28	528,626	59.17%	0.28	0.29	0.33	0.36	0.58	44.87	21.19	25.02	21.89	19.11	-0.02	-0.02	0.00	1.15
NVRO	NEVRO CORP	$11.42	346,542	21.95%	12.13	12.62	13.87	16.51	17.72	33.35	5.02	14.29	5.06	28.28	-0.66	-0.60	-0.06	1.23
SOLV	SOLVENTUM CORP	$65.91	2,163,466	39.77%	142.82	137.86	N/A	N/A	N/A	73.19	89.76	88.88	N/A	N/A	N/A	N/A	N/A	1.20
XAIR	BEYOND AIR INC	$1.07	416,539	26.98%	1.21	1.38	1.61	1.65	2.15	28.87	5.31	11.43	11.30	19.79	-0.14	-0.12	-0.02	0.68

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 -3.62% over the past year, overperforming other medical device stocks by 12 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 -54.16% over the past year, underperforming other medical device stocks by -38 percentage points.

Inmode has an average 1 year price target of $27.00, an upside of 56.7% from Inmode's current stock price of $17.23.

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 56, which is 29 points higher than the medical device industry average of 27. It passed 18 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock lose -23.91% over the past year, underperforming other medical device stocks by -8 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 3.41%, which is 2 percentage points higher than the medical device industry average of 1.57%. 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 3.05%, which is 1 percentage points higher than the medical device industry average of 1.57%. 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 1.57%. 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 0.93% in the last day, and up 1.45% over the last week. Sintx Technologies was the among the top gainers in the medical devices industry, gaining 35% yesterday.

SiNtx Technologies shares are trading higher after the company and Prodways Printers announced they have entered into a technical partnership and ceramic slurry supply agreement.

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 -54.16% in the past year. It has underperformed other stocks in the medical device industry by -38 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 -3.62% in the past year. It has overperformed other stocks in the medical device industry by 12 percentage points.

3. Nortech Systems (NASDAQ:NSYS)

Nortech Systems (NASDAQ:NSYS) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. Nortech Systems has a valuation score of 71, which is 56 points higher than the medical device industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Nortech Systems's stock has gained 80.18% in the past year. It has overperformed other stocks in the medical device industry by 96 percentage points.

Are medical device stocks a good buy now?

44% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 21.81% 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 27.9x.

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.