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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
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 %
SENS
SENSEONICS HOLDINGS INC
$0.46-4.93%6.93%-11.47%-17.32%-5.51%-23.60%-77.19%-80.46%N/A$1.05$0.3855.90%20.57%1.491,266,585-71.13%
AFIB
ACUTUS MEDICAL INC
$0.152.00%-8.38%-15.00%-19.90%-70.58%-83.72%-98.81%N/AN/A$1.09$0.1585.96%2.00%1.19154,526-77.22%
APYX
APYX MEDICAL CORP
$1.40-2.10%-6.67%2.19%-46.36%-40.17%-62.16%-86.15%-74.64%-66.02%$7.97$1.2182.43%15.70%1.2320,131-72.10%
BIO
BIO-RAD LABORATORIES INC
$274.061.60%-1.49%-19.15%-16.69%-1.24%-39.62%-55.07%-7.75%121.03%$473.50$261.5942.12%4.77%0.85377,85423.08%
THMO
THERMOGENESIS HOLDINGS INC
$0.702.62%8.31%-1.54%33.59%-26.67%-69.12%-99.41%-99.42%-100.00%$2.36$0.3670.17%95.01%1.0719,618292.52%
BBLG
BONE BIOLOGICS CORP
$1.687.55%10.16%-21.13%-49.70%-60.37%-97.12%-99.25%-99.44%N/A$72.00$1.4697.67%15.07%0.4019,229380.85%
BJDX
BLUEJAY DIAGNOSTICS INC
$0.549.39%-2.55%-30.48%-33.00%-84.55%-91.07%N/AN/AN/A$13.98$0.3996.17%37.44%0.9381,749-8.80%
XYLO
XYLO TECHNOLOGIES LTD
$1.642.50%-21.15%-40.36%-47.27%-43.45%-66.19%-94.15%-96.15%N/A$7.17$1.5477.13%6.49%0.462,565-82.55%
PXDT
PIXIE DUST TECHNOLOGIES INC
$2.602.77%0.39%-21.45%-67.30%-68.97%N/AN/AN/AN/A$10.51$2.3075.26%13.04%0.9015,549160.28%
INGN
INOGEN INC
$7.053.68%0.00%-6.50%-3.03%43.58%-48.20%-89.67%-91.79%-51.75%$14.10$4.1350.00%70.70%0.97148,793-16.61%
TIVC
TIVIC HEALTH SYSTEMS INC
$1.072.88%-3.60%-12.30%-17.69%-17.05%-91.88%N/AN/AN/A$23.79$0.9895.50%9.18%0.6735,29192.03%
ZIMV
ZIMVIE INC
$15.501.97%-1.96%-16.08%-13.12%130.31%90.18%N/AN/AN/A$20.91$6.5225.87%137.73%1.42259,824-17.94%
ESTA
ESTABLISHMENT LABS HOLDINGS INC
$50.611.20%3.39%3.71%33.11%60.41%-29.00%-27.04%102.44%N/A$73.00$16.9630.67%198.41%1.23225,9551.62%
OFIX
ORTHOFIX MEDICAL INC
$13.030.19%-3.95%-7.36%-8.72%18.09%-31.81%-70.93%-76.03%-56.60%$21.60$9.5839.70%36.03%0.94228,191-37.62%
SINT
SINTX TECHNOLOGIES INC
$0.054.44%20.51%20.51%-68.67%-89.56%-96.91%-99.97%-99.99%-100.00%$1.82$0.0297.42%123.81%0.6819,883,814-31.95%
PHG
KONINKLIJKE PHILIPS NV
$26.760.79%27.61%34.95%25.40%37.58%28.47%-53.35%-36.80%-16.30%$29.44$17.759.10%50.76%0.881,513,485-60.45%
QDEL
QUIDELORTHO CORP
$39.68-2.15%-2.79%-15.57%-42.87%-34.41%-56.86%-63.45%-38.07%87.17%$95.02$37.7858.24%5.03%0.61844,842-10.35%
CTSO
CYTOSORBENTS CORP
$0.843.83%2.31%-7.48%-16.73%-42.79%-66.09%-90.86%-88.37%-85.18%$4.29$0.7880.40%7.54%0.76105,212-23.14%
TNON
TENON MEDICAL INC
$0.783.18%1.83%-16.24%-36.67%-8.46%-95.86%N/AN/AN/A$20.40$0.7196.18%9.72%1.0514,7422.57%
AORT
ARTIVION INC
$20.333.62%-2.82%-4.06%19.45%57.84%44.80%-28.21%-34.08%125.89%$21.90$12.167.17%67.22%1.09171,573-28.61%
LUCD
LUCID DIAGNOSTICS INC
$0.88-2.44%28.70%-2.12%-38.96%-32.38%-36.30%N/AN/AN/A$1.85$0.6352.49%39.52%0.86109,485-83.34%
RSLS
RESHAPE LIFESCIENCES INC
$0.170.60%-0.60%2.45%-19.71%-35.02%-93.79%-99.96%-99.97%N/A$2.80$0.1494.03%18.44%1.16198,319130.54%
DYNT
DYNATRONICS CORP
$0.51-1.17%-14.41%20.24%-0.98%-2.88%-64.18%-91.51%-94.09%-96.54%$1.44$0.3764.93%36.49%0.1621,757-70.42%
BSGM
BIOSIG TECHNOLOGIES INC
$1.9919.88%50.76%184.29%28.39%-56.66%-83.95%-93.99%-96.98%N/A$16.50$0.2687.94%659.54%1.06483,38127.31%
AIMD
AINOS INC
$1.041.96%-0.95%-8.77%6.12%-64.75%-74.31%59.51%N/AN/A$6.10$0.7982.95%31.65%84.2225,21532.31%
VVOS
VIVOS THERAPEUTICS INC
$2.530.16%-1.40%-24.81%-58.73%-25.03%-70.76%-98.58%N/AN/A$48.79$2.3794.81%6.92%0.9124,925-52.23%
BVS
BIOVENTUS INC
$3.990.76%-3.86%-23.56%-13.26%10.53%291.18%-71.60%N/AN/A$6.08$0.8634.38%363.95%1.3087,364-22.78%
ELUT
ELUTIA INC
$2.852.89%-1.38%-8.06%-22.55%115.91%33.18%-70.50%N/AN/A$4.19$1.1031.96%159.09%0.101,402-96.99%
NUWE
NUWELLIS INC
$0.13-13.64%-47.22%-64.81%-71.70%-82.03%-97.23%-99.97%-100.00%-100.00%$4.78$0.1397.22%6.40%0.422,807,93231.42%
DHAI
DIH HOLDING US INC
$1.55-1.90%16.54%35.96%-69.12%-85.84%-85.25%N/AN/AN/A$13.90$0.7288.85%115.88%0.0442,864-88.53%
IRIX
IRIDEX CORP
$2.82-1.05%-4.08%-5.69%3.30%31.78%24.78%-67.44%-40.25%-65.10%$3.65$1.3122.74%115.27%0.875,367-66.47%
TLSI
TRISALUS LIFE SCIENCES INC
$9.310.00%-9.08%-9.17%4.84%113.04%-8.64%-4.02%N/AN/A$16.24$3.3242.67%180.42%0.0927,289106.16%
NRXS
NEURAXIS INC
$3.303.13%10.00%1.54%36.36%61.76%N/AN/AN/AN/A$6.93$1.8052.38%83.33%1.5613,57042.51%
SSKN
STRATA SKIN SCIENCES INC
$0.410.00%-26.79%2.50%-19.61%-15.46%-59.00%-75.15%-84.59%-98.45%$1.14$0.2664.04%56.49%0.552,015-74.37%
PAVM
PAVMED INC
$2.3115.50%24.86%13.24%3.59%-39.32%-66.11%-96.96%-88.06%N/A$9.00$1.6074.33%44.38%1.02153,99847.82%
NXL
NEXALIN TECHNOLOGY INC
$1.6910.46%19.01%-11.05%335.57%428.13%94.25%N/AN/AN/A$3.40$0.2550.29%567.98%0.68103,806-69.75%
CATX
PERSPECTIVE THERAPEUTICS INC
$1.701.19%0.59%32.81%109.10%546.39%176.87%88.89%304.76%-19.81%$1.77$0.213.95%729.27%0.613,910,738-7.29%
BTCY
BIOTRICITY INC
$1.372.24%-1.44%-4.20%48.91%37.00%-59.26%-90.16%-72.32%N/A$4.37$0.7068.65%95.44%0.6169,2763.76%
ARAY
ACCURAY INC
$2.171.88%-1.36%-9.96%-15.23%-15.56%-37.28%-53.43%-46.42%-72.07%$4.30$2.1049.52%3.33%1.12599,59231.53%
COCH
ENVOY MEDICAL INC
$4.434.24%-11.04%0.68%269.17%254.40%-55.92%-54.46%N/AN/A$11.72$0.7562.20%493.04%-0.0621,457-64.68%
IINN
INSPIRA TECHNOLOGIES OXY BHN LTD
$1.953.72%1.04%2.63%119.10%76.47%56.00%N/AN/AN/A$2.49$0.7621.69%156.24%1.2459,12240.98%
BIOL
BIOLASE INC
$0.15-2.03%0.69%-24.87%-80.69%-91.37%-99.44%-99.99%-100.00%-100.00%$32.09$0.1399.55%16.00%1.17487,460-13.92%
CUTR
CUTERA INC
$2.451.24%25.00%77.54%-10.58%-17.51%-89.01%-91.99%-86.54%-76.12%$21.93$1.2888.83%91.41%1.29632,6089.21%
MODD
MODULAR MEDICAL INC
$1.55-0.96%-1.90%-14.36%-12.43%28.10%-17.99%N/AN/AN/A$2.22$0.8430.18%84.52%0.2422,438-39.72%
VERO
VENUS CONCEPT INC
$0.671.21%-7.49%-6.06%-44.88%-64.52%-73.84%-97.62%-99.50%N/A$4.70$0.6085.81%10.80%1.198,343-31.06%
VTAK
CATHETER PRECISION INC
$0.53-4.19%-8.52%5.62%12.15%20.64%-59.85%-99.72%-99.99%N/A$1.33$0.3460.45%54.71%0.738,004-74.58%
AXDX
ACCELERATE DIAGNOSTICS INC
$0.946.01%0.43%5.17%-23.98%-84.52%-89.09%-98.72%-99.52%-99.48%$11.90$0.7392.14%28.08%1.1715,18325.40%
ALUR
ALLURION TECHNOLOGIES INC
$2.3516.92%28.42%38.24%-20.61%-45.48%-77.40%-76.29%N/AN/A$10.94$1.5678.52%50.64%0.02146,566356.08%
MOVE
MOVANO INC
$0.499.44%-2.40%10.68%-22.70%-51.30%-51.30%-90.96%N/AN/A$1.50$0.3767.53%31.62%0.7714,958-63.87%
OPGN
OPGEN INC
$0.411.49%-27.35%-31.49%20.29%-36.59%-47.43%-99.13%-99.79%N/A$3.84$0.1789.35%147.88%-0.12531,915-53.27%
OWLT
OWLET INC
$4.38-0.45%10.05%3.79%-11.34%4.24%-0.90%-96.86%N/AN/A$7.50$2.5241.60%73.74%1.003,802-9.69%
MDAI
SPECTRAL AI INC
$1.72-3.37%-7.03%-26.18%-21.46%-43.23%-83.33%-82.43%N/AN/A$19.50$1.6891.18%2.38%0.06261,737-1.74%
AMIX
AUTONOMIX MEDICAL INC
$3.353.72%7.48%11.67%-41.74%N/AN/AN/AN/AN/A$7.60$2.5055.92%34.00%0.2317,171-73.05%
QTI
QT IMAGING HOLDINGS INC
$0.811.90%-7.89%-28.76%-92.55%-92.57%-92.40%N/AN/AN/A$14.40$0.6794.41%20.15%0.0894,374925.47%

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in May 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 42 points higher than the medical device industry average of 26. It passed 21 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock lose -5.36% over the past year, overperforming other medical device stocks by 10 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second best medical device stock with a Zen Score of 65, which is 39 points higher than the medical device industry average of 26. It passed 20 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -54.14% over the past year, underperforming other medical device stocks by -39 percentage points.

Inmode has an average 1 year price target of $27.00, an upside of 56.61% from Inmode's current stock price of $17.24.

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 30 points higher than the medical device industry average of 26. It passed 18 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock lose -22.78% 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 3.11%, which is 2 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% 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 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 1.99%, 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 2.2% in the last day, and up 0.21% over the last week. Surmodics was the among the top gainers in the medical devices industry, gaining 29.74% yesterday.

Surmodics shares are trading higher following a Q2 earnings beat.

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. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the most undervalued medical device stock based on WallStreetZen's Valuation Score. Semler Scientific has a valuation score of 100, which is 87 points higher than the medical device industry average of 13. It passed 7 out of 7 valuation due diligence checks.

Semler Scientific's stock has dropped -5.36% in the past year. It has overperformed other stocks in the medical device industry by 10 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second most undervalued medical device stock based on WallStreetZen's Valuation Score. Inmode has a valuation score of 100, which is 87 points higher than the medical device industry average of 13. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -54.14% in the past year. It has underperformed other stocks in the medical device industry by -39 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 58 points higher than the medical device industry average of 13. It passed 5 out of 7 valuation due diligence checks.

Nortech Systems's stock has gained 66.9% in the past year. It has overperformed other stocks in the medical device industry by 82 percentage points.

Are medical device stocks a good buy now?

45% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 21.3% 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 30.19x.
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.