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Sectors & IndustriesHealthcareMedical 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
Ticker
Company
Price
1d %
1w %
1m %
3m %
6m %
1y %
3y %
5y %
10y %
52-week High
52-week Low
% off 52-week High
% off 52-week Low
Beta
Volume
Vol 1d %
SMLR
SEMLER SCIENTIFIC INC
$25.45-0.82%-8.49%-15.64%-42.39%-21.04%0.83%-76.86%-41.49%416.02%$53.38$22.8252.32%11.52%0.9547,906-14.46%
INMD
INMODE LTD
$17.34-0.63%-6.12%-16.47%-24.28%-16.39%-52.22%-59.70%N/AN/A$48.25$17.2964.06%0.29%1.601,358,19843.59%
TCMD
TACTILE SYSTEMS TECHNOLOGY INC
$14.14-0.14%-6.05%-10.70%2.24%28.31%-20.11%-73.80%-70.71%N/A$26.11$9.7045.84%45.85%1.13125,1451.55%
VMD
VIEMED HEALTHCARE INC
$7.80-0.26%-5.45%-18.41%2.36%18.54%-25.29%-17.29%N/AN/A$12.01$5.9035.05%32.20%0.73129,12357.77%
MDT
MEDTRONIC PLC
$79.190.14%-3.63%-5.34%-8.23%8.93%-3.01%-37.22%-5.97%34.36%$92.02$68.8413.94%15.03%0.826,063,26711.16%
EW
EDWARDS LIFESCIENCES CORP
$86.45-0.91%-5.43%-6.89%16.13%24.01%2.49%-2.38%46.31%555.57%$96.12$60.5710.06%42.73%0.963,121,9338.49%
NSYS
NORTECH SYSTEMS INC
$16.51-0.03%1.46%49.07%70.15%105.80%60.55%182.14%297.71%224.90%$17.72$7.456.86%121.54%0.464,057102.75%
IRMD
IRADIMED CORP
$40.36-0.27%-3.88%-9.08%-9.26%3.54%0.00%58.40%54.70%N/A$51.04$36.1220.92%11.74%0.8328,705-18.28%
BRKR
BRUKER CORP
$78.56-5.28%-12.98%-14.63%9.87%30.56%-3.83%17.31%105.82%273.38%$94.86$53.7917.18%46.05%1.102,217,725221.98%
DXCM
DEXCOM INC
$134.300.33%-3.81%-0.31%5.37%59.65%12.92%36.68%370.02%1,389.24%$142.00$74.755.42%79.67%1.052,115,900-33.97%
ALGN
ALIGN TECHNOLOGY INC
$301.340.40%-7.25%-4.68%13.92%10.62%-13.42%-50.09%7.05%476.73%$413.20$176.3427.07%70.89%1.53415,246-26.83%
PODD
INSULET CORP
$164.73-0.92%-8.31%-4.05%-19.21%13.71%-48.73%-41.48%100.57%282.56%$335.91$125.8250.96%30.93%0.95589,071-13.67%
ABT
ABBOTT LABORATORIES
$105.27-0.59%-5.55%-6.38%-7.67%10.16%1.08%-15.47%42.41%171.95%$121.64$89.6713.46%17.39%0.807,294,101-39.14%
ZBH
ZIMMER BIOMET HOLDINGS INC
$119.33-1.62%-6.42%-5.26%-3.63%12.37%-11.16%-30.84%-0.56%29.83%$149.25$102.0020.05%16.99%0.891,442,136-5.14%
GMED
GLOBUS MEDICAL INC
$50.75-0.88%-3.28%-1.74%-8.90%-5.81%-12.12%-26.66%15.29%116.33%$62.88$43.3919.29%16.98%0.88948,851-18.24%
STE
STERIS PLC
$200.810.28%-2.65%-12.69%-8.92%-9.52%9.27%-3.75%63.49%N/A$254.00$180.5420.94%11.23%0.88658,458-40.92%
PEN
PENUMBRA INC
$201.84-3.28%-9.27%-13.88%-21.10%-2.41%-25.67%-27.81%56.50%N/A$348.67$180.9342.11%11.56%1.01330,440-4.64%
KIDS
ORTHOPEDIATRICS CORP
$29.46-1.47%-6.65%17.84%3.92%15.67%-38.99%-43.60%-19.07%N/A$53.50$23.1044.93%27.53%1.0881,159-70.98%
QTRX
QUANTERIX CORP
$15.790.25%-20.85%-40.59%-28.62%-20.05%29.64%-73.31%-27.97%N/A$29.70$11.3946.84%38.63%1.56363,272-24.49%
RPID
RAPID MICRO BIOSYSTEMS INC
$0.86-8.51%-12.96%-12.24%-11.34%-13.13%-18.87%N/AN/AN/A$1.19$0.7427.73%16.22%1.14140,149635.50%
AXNX
AXONICS INC
$67.05-0.22%-0.99%-1.76%-1.87%24.19%16.85%14.28%253.08%N/A$69.68$47.593.77%40.89%1.16507,604-13.14%
SYK
STRYKER CORP
$327.45-2.55%-5.44%-7.52%4.04%21.20%12.56%27.54%81.65%311.99%$361.41$249.989.40%30.99%1.052,088,45997.75%
BWAY
BRAINSWAY LTD
$4.79-5.15%-9.62%-20.96%-23.24%36.47%183.43%-46.30%-57.42%N/A$7.62$1.3837.10%247.10%0.8879,897380.44%
SWAV
SHOCKWAVE MEDICAL INC
$327.520.01%-0.20%18.19%48.19%58.45%23.38%133.29%987.38%N/A$331.58$157.001.22%108.61%1.301,155,58512.78%
AXGN
AXOGEN INC
$6.55-5.62%-10.76%-15.05%-19.53%54.12%-33.50%-63.20%-68.57%133.93%$10.83$3.4539.53%89.86%1.27237,55541.03%
VREX
VAREX IMAGING CORP
$16.920.06%-5.53%-1.11%-13.76%-5.95%-4.73%-25.30%-47.24%N/A$23.90$16.6229.19%1.81%0.92198,508-54.00%
LFWD
LIFEWARD LTD
$4.98-0.40%-2.73%20.29%-24.32%3.08%6.16%-60.03%-79.56%N/A$9.10$3.9045.27%27.69%0.7037,70742.43%
SNN
SMITH & NEPHEW PLC
$24.010.38%-2.08%-9.97%-14.43%6.47%-19.10%-39.15%-36.80%-18.36%$33.09$21.5327.43%11.54%0.841,358,15127.42%
BSX
BOSTON SCIENTIFIC CORP
$67.42-0.79%-2.06%0.27%10.43%32.95%30.63%64.92%92.03%391.40%$69.21$48.352.59%39.44%0.905,946,431-3.70%
ELMD
ELECTROMED INC
$13.94-1.34%-5.49%-19.33%32.13%31.51%37.34%38.98%146.29%881.69%$17.85$8.8021.90%58.41%0.6826,45079.47%
NSPR
INSPIREMD INC
$2.14-3.12%-8.50%-5.68%-28.87%-35.32%107.86%-68.79%-96.82%-100.00%$3.85$0.9644.39%122.79%0.6113,91774.44%
SGHT
SIGHT SCIENCES INC
$5.24-2.60%-14.10%11.25%0.58%38.99%-39.35%N/AN/AN/A$11.20$1.0453.21%403.85%1.88160,99777.61%
INSP
INSPIRE MEDICAL SYSTEMS INC
$241.15-0.97%3.82%21.04%24.75%53.55%-8.13%8.28%412.32%N/A$330.00$123.2726.92%95.63%1.35880,104-54.62%
HYPR
HYPERFINE INC
$0.81-10.99%-19.00%-31.93%-15.63%-57.14%-41.30%-91.88%N/AN/A$3.28$0.8075.30%1.89%1.02189,926138.18%
CVRX
CVRX INC
$15.26-2.86%-15.64%-26.10%-42.83%12.37%68.06%N/AN/AN/A$33.14$9.0853.95%68.15%1.4889,673-4.56%
CNMD
CONMED CORP
$71.08-2.31%-6.56%-6.98%-31.39%-25.02%-36.02%-45.29%-10.50%50.75%$138.47$70.5748.67%0.72%1.28620,019-32.90%
OM
OUTSET MEDICAL INC
$2.254.17%-1.10%12.50%-35.53%-46.43%-87.13%-95.82%N/AN/A$24.13$1.9290.68%17.19%1.51846,08113.28%
ITGR
INTEGER HOLDINGS CORP
$117.83-0.58%0.74%3.83%14.23%58.10%47.29%26.64%66.22%150.17%$121.53$69.403.04%69.78%1.16435,564-24.84%
NURO
NEUROMETRIX INC
$3.652.24%-5.19%-5.44%15.51%-31.90%-68.10%-85.56%-95.25%-99.93%$11.82$2.7069.13%35.19%1.0310,039-6.05%
LUNG
PULMONX CORP
$7.500.94%-10.18%-15.06%-41.54%-11.35%-37.08%-82.85%N/AN/A$14.84$7.2149.44%4.02%1.58542,14951.71%
RXST
RXSIGHT INC
$51.75-2.04%-6.44%10.67%11.63%105.60%197.58%N/AN/AN/A$58.21$17.0011.10%204.41%1.24372,387125.58%
MASI
MASIMO CORP
$135.92-0.51%-4.78%1.86%11.04%71.53%-29.25%-44.06%10.98%402.85%$198.00$75.2231.35%80.70%0.82238,4927.78%
LIVN
LIVANOVA PLC
$52.761.72%-2.42%3.94%5.58%5.56%10.40%-34.66%-21.24%N/A$59.86$42.7511.86%23.42%1.08537,32210.80%
AEMD
AETHLON MEDICAL INC
$1.42-0.35%-9.29%-15.27%-28.17%-0.35%-64.29%-92.35%-98.67%N/A$7.20$1.3580.35%4.81%0.472,296-85.07%
SIBN
SI-BONE INC
$15.300.46%-2.49%-4.08%-18.83%-12.17%-24.96%-55.90%1.12%N/A$29.51$14.8448.15%3.10%1.10299,3778.16%
UFPT
UFP TECHNOLOGIES INC
$217.74-3.50%-4.44%12.31%35.49%43.16%59.09%336.27%491.52%749.88%$257.29$127.2915.37%71.06%0.7939,388-43.55%
TMDX
TRANSMEDICS GROUP INC
$87.24-0.71%-7.14%17.64%8.68%106.78%22.55%235.41%N/AN/A$99.63$36.4212.44%139.54%1.31692,257-30.61%
NNOX
NANO-X IMAGING LTD
$9.07-2.99%-13.70%-20.30%57.74%55.04%47.00%-72.03%N/AN/A$22.69$4.8960.03%85.48%1.75813,248-13.66%
PRCT
PROCEPT BIOROBOTICS CORP
$51.08-1.37%-4.20%4.89%13.23%81.33%37.98%N/AN/AN/A$54.50$24.836.28%105.72%1.38635,905-12.40%
RCEL
AVITA MEDICAL INC
$8.87-5.44%-14.30%-43.97%-36.23%-11.48%-40.79%-55.91%N/AN/A$21.70$8.7859.13%1.03%1.51350,02154.11%
NARI
INARI MEDICAL INC
$38.64-0.16%-6.94%-7.18%-33.40%-31.97%-39.57%-62.54%N/AN/A$71.85$37.9246.22%1.90%1.31766,92618.61%
BFLY
BUTTERFLY NETWORK INC
$0.820.12%-13.32%-24.07%-22.64%0.74%-68.46%-94.09%N/AN/A$2.71$0.7669.74%7.89%1.831,424,014-0.61%
CTKB
CYTEK BIOSCIENCES INC
$5.960.68%-5.40%-12.35%-28.28%23.14%-39.37%N/AN/AN/A$12.31$3.8051.58%56.84%1.49674,717-4.90%
SILK
SILK ROAD MEDICAL INC
$17.42-0.23%-8.89%2.53%32.17%137.98%-60.59%-66.36%-48.75%N/A$46.57$6.0862.59%186.51%1.27301,578-19.31%
CODX
CO-DIAGNOSTICS INC
$1.161.75%-6.45%9.43%-7.94%6.42%-24.68%-86.82%12.62%N/A$1.89$0.9838.62%18.97%0.07216,550551.69%
NPCE
NEUROPACE INC
$14.001.82%-3.48%9.03%5.66%127.64%203.03%-43.91%N/AN/A$18.15$3.8022.87%268.91%0.7965,350102.75%
PACB
PACIFIC BIOSCIENCES OF CALIFORNIA INC
$1.464.29%-56.80%-60.22%-77.04%-80.92%-86.59%-95.07%-80.24%-68.05%$14.55$1.2589.97%16.80%1.8218,711,981-46.82%
MASS
908 DEVICES INC
$5.600.18%-12.91%-16.29%-26.70%-0.88%-33.09%-89.05%N/AN/A$12.51$4.8555.24%15.46%2.04163,042-2.74%
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
$31.63-0.97%-4.59%-7.62%-25.38%-18.52%-45.25%-56.56%-38.15%39.40%$59.10$31.4746.48%0.51%0.90508,410-21.29%
MXCT
MAXCYTE INC
$3.88-1.52%-6.05%-6.95%-25.67%21.63%-24.81%N/AN/AN/A$5.55$2.4530.03%58.37%1.55529,592-35.81%
PROF
PROFOUND MEDICAL CORP
$7.840.58%-5.54%-3.57%-4.16%-16.06%-31.05%-60.92%N/AN/A$15.49$7.1149.39%10.27%1.1543,439465.69%
ICAD
ICAD INC
$1.591.92%-6.47%6.71%6.00%-5.92%11.19%-90.97%-65.21%-81.47%$3.97$1.0559.95%51.43%1.04143,05364.88%
IRTC
IRHYTHM TECHNOLOGIES INC
$112.120.57%-2.37%9.61%1.37%33.73%-14.99%25.16%62.68%N/A$140.23$70.2420.05%59.62%1.21261,5000.40%
TELA
TELA BIO INC
$5.15-0.39%4.15%-2.83%-25.90%-12.12%-51.55%-62.08%N/AN/A$11.26$4.2454.26%21.61%0.9595,186-10.89%
NVNO
ENVVENO MEDICAL CORP
$4.78-0.42%-5.72%-18.98%21.32%-9.47%0.10%-19.93%-91.97%N/A$6.97$2.5131.42%90.44%0.8935,906-49.04%
SRTS
SENSUS HEALTHCARE INC
$3.250.00%3.50%-9.72%19.93%32.65%-37.74%-4.41%-47.24%N/A$5.38$1.7939.59%81.56%0.8635,443-68.27%
CLPT
CLEARPOINT NEURO INC
$5.39-2.53%-13.06%-23.76%-29.54%8.67%-49.05%-68.72%89.79%-89.22%$10.80$4.0550.09%33.09%1.1386,697-36.79%
ICCM
ICECURE MEDICAL LTD
$1.23-4.65%-1.60%0.82%-7.52%33.70%-3.98%N/AN/AN/A$1.57$0.5221.66%136.54%0.83105,707-92.72%
ECOR
ELECTROCORE INC
$5.640.98%-5.84%-19.43%-14.42%-0.70%-14.42%-79.68%-94.13%N/A$8.08$3.8730.20%45.74%1.245,742-58.84%
INVO
INVO BIOSCIENCE INC
$1.52-16.48%61.70%49.02%39.45%130.30%-83.16%-98.06%N/AN/A$10.50$0.5085.52%204.00%1.245,020,947-97.78%
QIPT
QUIPT HOME MEDICAL CORP
$3.48-3.60%-11.90%-16.35%-24.18%-26.43%-43.14%N/AN/AN/A$6.63$3.4747.51%0.29%0.49308,88225.61%
NVCR
NOVOCURE LTD
$12.050.00%-14.66%-12.81%-16.90%-20.98%-81.07%-93.69%-71.46%N/A$83.60$10.8785.59%10.86%1.181,391,6242.34%
SRDX
SURMODICS INC
$26.39-0.49%-4.66%-3.93%-22.63%-11.02%14.29%-53.99%-34.86%16.20%$39.41$16.7933.04%57.18%1.01140,406-68.31%
LNSR
LENSAR INC
$3.142.61%-1.88%-22.85%-19.28%16.30%20.77%-55.08%N/AN/A$5.30$1.8040.75%74.44%0.3738,851582.79%
AFIB
ACUTUS MEDICAL INC
$0.176.10%-1.69%-33.59%2.35%-71.00%-75.53%-98.66%N/AN/A$1.09$0.1684.04%8.75%1.18725,1981,057.89%
MGRM
MONOGRAM ORTHOPAEDICS INC
$2.26-3.83%-44.47%14.14%-30.46%-20.70%N/AN/AN/AN/A$48.99$1.5395.39%47.71%1.32127,204-7.65%
INGN
INOGEN INC
$7.092.01%-2.61%3.65%33.15%51.50%-44.17%-88.71%-90.99%-51.83%$14.10$4.1349.72%71.67%0.96346,206-25.40%
TNDM
TANDEM DIABETES CARE INC
$30.93-2.58%-8.68%-0.61%24.17%61.51%-22.15%-66.01%-43.15%-81.73%$40.92$13.8224.41%123.81%1.121,091,3483.64%
FNA
PARAGON 28 INC
$9.65-0.82%-7.83%8.79%-13.61%8.18%-44.73%N/AN/AN/A$19.72$7.9551.06%21.38%1.44344,670-3.42%
TMCI
TREACE MEDICAL CONCEPTS INC
$11.27-1.14%-10.70%-6.08%-11.26%13.95%-55.54%-55.86%N/AN/A$27.70$5.2759.31%113.85%1.29316,865-0.78%
HSCS
HEART TEST LABORATORIES INC
$0.116.93%0.93%-11.48%-3.57%-71.28%-90.18%N/AN/AN/A$1.32$0.0991.82%20.00%-0.18643,20931.87%
INBS
INTELLIGENT BIO SOLUTIONS INC
$2.804.48%-16.42%-33.33%-21.46%-13.61%-92.14%-99.72%N/AN/A$49.20$2.2894.31%22.81%1.30162,36089.10%
ATEC
ALPHATEC HOLDINGS INC
$12.34-1.36%-10.45%-8.66%-19.24%4.49%-21.35%-23.97%357.04%-30.05%$19.14$8.6635.53%42.49%1.442,314,864103.84%
DCTH
DELCATH SYSTEMS INC
$4.704.92%-6.10%12.32%22.27%23.55%-17.34%-61.42%-95.37%N/A$7.99$2.2541.24%108.67%1.16335,14167.92%
XTNT
XTANT MEDICAL HOLDINGS INC
$0.846.76%-4.89%-23.91%-23.21%-23.21%33.71%-56.18%-72.10%-99.00%$1.45$0.6042.28%39.73%0.1574,084-59.72%
MYO
MYOMO INC
$2.823.68%-9.62%-23.16%-29.85%112.03%302.86%-71.86%-92.23%N/A$5.58$0.3749.46%660.11%0.99200,32732.13%
NMTC
NEUROONE MEDICAL TECHNOLOGIES CORP
$1.14-2.48%-5.79%-1.30%-15.56%18.75%-26.45%-83.71%-90.67%N/A$2.00$0.8543.00%34.12%0.5832,836-29.39%
CERS
CERUS CORP
$1.640.00%-3.24%-11.83%-2.96%27.13%-39.71%-72.30%-71.48%-64.19%$3.08$1.2146.75%36.10%1.39764,1842.45%
ASXC
ASENSUS SURGICAL INC
$0.25-2.69%-8.99%-11.23%-13.36%-0.39%-68.77%-85.46%-99.06%-99.52%$0.77$0.2067.14%24.02%0.94958,476-30.77%
NAOV
NANOVIBRONIX INC
$0.750.00%-5.06%-16.67%-8.54%-29.25%-77.61%-95.59%-99.02%N/A$4.34$0.7082.72%7.14%0.523,476-85.69%
TBIO
TELESIS BIO INC
$0.33-12.89%-24.08%-38.70%5.75%-64.79%-88.89%N/AN/AN/A$3.01$0.3089.00%10.33%1.47253,036920.47%
ZIMV
ZIMVIE INC
$15.682.28%-7.44%-5.14%-8.52%90.75%91.92%N/AN/AN/A$20.91$6.5225.01%140.49%1.42254,313-30.03%
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
$5.11-1.35%-14.83%-12.05%-29.03%-28.63%-51.56%-99.41%-99.90%N/A$14.44$4.2964.61%19.11%0.696,613-59.68%
BMRA
BIOMERICA INC
$0.761.20%-6.40%-29.30%-16.48%-1.30%-53.94%-83.80%-68.85%N/A$2.13$0.7064.32%7.95%-0.3454,96553.17%
TLIS
TALIS BIOMEDICAL CORP
$9.006.51%6.38%-2.70%10.29%69.52%29.07%-95.37%N/AN/A$9.32$4.353.43%106.90%0.787,693-68.39%
RSLS
RESHAPE LIFESCIENCES INC
$0.174.27%4.27%4.27%-27.85%-41.84%-94.48%-99.95%-99.98%N/A$2.99$0.1494.28%21.28%1.16430,86477.18%
ANIK
ANIKA THERAPEUTICS INC
$25.43-1.01%-0.70%0.63%13.27%32.10%-8.59%-36.36%-19.63%-36.50%$28.13$16.549.58%53.75%0.8783,32257.13%
RBOT
VICARIOUS SURGICAL INC
$0.280.72%-14.68%-24.80%-33.09%-32.28%-87.14%-97.20%N/AN/A$2.46$0.2088.64%39.50%1.15208,576-33.22%
XLYO
XYLO TECHNOLOGIES LTD
$2.453.81%2.08%-9.89%-22.96%-27.51%-50.20%-91.27%-94.17%N/A$7.17$2.1165.83%16.11%0.4718,582-26.88%
SOLV
SOLVENTUM CORP
$64.033.69%1.36%N/AN/AN/AN/AN/AN/AN/A$72.40$61.3811.56%4.32%0.292,069,62019.79%

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 return 0.83% over the past year, overperforming other medical device stocks by 17 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 -52.22% 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 55.71% from Inmode's current stock price of $17.34.

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 -20.11% over the past year, underperforming other medical device stocks by -4 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 3.49%, which is 2 percentage points higher than the medical device industry average of 1.59%. 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 3.12%, which is 2 percentage points higher than the medical device industry average of 1.59%. 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 2.01%, which is the same as the medical device industry average of 1.59%. 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 down?

Medical device stocks were down -1.04% in the last day, and down -5.04% over the last week.

We couldn't find a catalyst for why medical device stocks are down.

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 -52.22% 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 gained 0.83% in the past year. It has overperformed other stocks in the medical device industry by 17 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 -20.11% in the past year. It has underperformed other stocks in the medical device industry by -4 percentage points.

Are medical device stocks a good buy now?

43.43% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 22.46% 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 28.61x.
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.