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Best Medical Device Stocks to Buy Now (2022)
Top medical device stocks in 2022 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
Forecast Score
Market Cap
Price
Price Target
Upside/Downside
Consensus
Analysts
Fore. Revenue Growth
Fore. Earnings Growth
Forecast ROE
Forecast ROA
SWAV
SHOCKWAVE MEDICAL INC
$9.03B$249.89$253.831.58%Buy621.35%21.51%55.34%41.40%
INMD
INMODE LTD
$3.09B$37.54$46.6724.31%Strong Buy3N/AN/AN/AN/A
SRTS
SENSUS HEALTHCARE INC
$111.13M$6.69$16.25142.90%Strong Buy2-1.59%-52.17%33.49%28.82%
SMLR
SEMLER SCIENTIFIC INC
$216.07M$31.59$45.0042.45%Hold18.32%-15.51%31.62%27.17%
QIPT
QUIPT HOME MEDICAL CORP
$149.39M$4.44$9.71118.78%Strong Buy545.16%167.82%55.12%28.61%
VREX
VAREX IMAGING CORP
$835.68M$20.84$24.0015.16%Hold12.04%31.55%N/AN/A
ABMD
ABIOMED INC
$17.01B$377.20$350.50-7.08%Hold711.68%4.78%20.09%18.23%
VMD
VIEMED HEALTHCARE INC
$281.35M$7.40$10.0035.14%Strong Buy16.52%24.25%17.00%13.37%
ZYXI
ZYNEX INC
$516.86M$13.80$15.5012.32%Buy214.12%16.89%55.16%31.15%
ALGN
ALIGN TECHNOLOGY INC
$15.50B$198.41$334.6368.65%Strong Buy810.53%23.54%34.82%21.76%
AHCO
ADAPTHEALTH CORP
$3.08B$22.86$28.7525.77%Strong Buy48.14%43.35%13.88%5.71%
AVNS
AVANOS MEDICAL INC
$1.26B$27.12$28.675.70%Hold34.59%42.62%7.91%5.63%
EW
EDWARDS LIFESCIENCES CORP
$47.33B$76.55$104.2536.19%Strong Buy187.93%9.07%33.01%23.76%
ABT
ABBOTT LABORATORIES
$188.46B$108.09$120.9211.87%Strong Buy13-1.96%2.89%27.36%13.48%
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
$8.18M$0.29$5.001,624.14%Strong Buy181.42%N/A36.99%25.42%
BRKR
BRUKER CORP
$9.84B$66.92$79.0018.05%Strong Buy33.81%18.57%45.84%12.87%
PODD
INSULET CORP
$21.39B$308.06$286.50-7.00%Buy1212.59%107.88%55.33%10.93%
IRMD
IRADIMED CORP
$374.73M$29.82$42.0040.85%Strong Buy15.14%-14.42%19.99%17.54%
NVCN
NEOVASC INC
$24.25M$8.83$18.00103.85%Strong Buy251.95%N/A20.36%12.82%
KIDS
ORTHOPEDIATRICS CORP
$921.61M$40.26$54.6035.62%Strong Buy517.32%N/A-6.39%-5.70%
PROF
PROFOUND MEDICAL CORP
$110.10M$5.28$14.00165.15%Strong Buy2117.47%N/A14.73%13.82%
ICCM
ICECURE MEDICAL LTD
$39.39M$1.07$4.33304.21%Strong Buy229.03%N/A-44.86%-35.56%
SNN
SMITH & NEPHEW PLC
$12.03B$27.18$34.5026.93%Buy32.66%21.03%45.29%24.18%
FONR
FONAR CORP
$127.89M$18.48N/AN/AN/AN/AN/AN/AN/AN/A
RWLK
REWALK ROBOTICS LTD
$56.81M$0.92$3.00227.51%Buy155.09%N/A-13.13%-12.29%
BJDX
BLUEJAY DIAGNOSTICS INC
$13.10M$0.65$10.001,438.46%Strong Buy1386.09%N/A160.51%141.14%
ITGR
INTEGER HOLDINGS CORP
$2.43B$73.22$84.0014.72%Strong Buy15.40%51.13%13.99%6.92%
CVRX
CVRX INC
$297.24M$14.44$14.500.42%Strong Buy246.16%N/A-75.90%-70.90%
LUNG
PULMONX CORP
$243.53M$6.51$18.60185.71%Buy525.01%N/A-13.96%-11.29%
SYK
STRYKER CORP
$92.00B$243.11$254.444.66%Buy195.08%19.69%28.64%13.10%
GMED
GLOBUS MEDICAL INC
$7.48B$74.95$72.44-3.34%Strong Buy97.08%19.55%15.00%13.39%
MDT
MEDTRONIC PLC
$105.91B$79.62$99.6525.15%Buy213.90%24.22%15.90%8.84%
CTSO
CYTOSORBENTS CORP
$61.96M$1.42$5.75304.93%Strong Buy232.97%N/A83.61%52.56%
RPID
RAPID MICRO BIOSYSTEMS INC
$77.27M$1.84N/AN/AHold141.51%N/A-13.61%-12.06%
APYX
APYX MEDICAL CORP
$62.97M$1.82$14.50696.70%Strong Buy213.84%N/A-28.01%-21.28%
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
$4.72B$56.46$60.867.79%Hold72.99%22.23%20.29%9.19%
MASS
908 DEVICES INC
$328.85M$10.37$25.00141.08%Buy114.36%N/A-12.91%-10.18%
AEMD
AETHLON MEDICAL INC
$9.73M$0.42N/AN/AHold11,199.95%N/A6.93%5.97%
ISO
ISOPLEXIS CORP
$53.43M$1.35$3.75177.78%Hold234.85%N/A-62.99%-34.34%
SONX
SONENDO INC
$116.43M$2.34$4.78104.40%Strong Buy329.70%N/A-8.81%-5.57%
OM
OUTSET MEDICAL INC
$1.07B$22.12$30.1736.38%Buy627.92%N/A-24.75%-18.89%
QTRX
QUANTERIX CORP
$495.79M$13.38$23.6076.38%Hold5-0.50%N/A-10.54%-8.79%
LNSR
LENSAR INC
$37.15M$3.37$15.00345.10%Strong Buy114.78%N/A-40.90%-31.78%
TLIS
TALIS BIOMEDICAL CORP
$31.44M$0.56$1.25125.23%Strong Sell222.08%N/A-80.66%-63.33%
THMO
THERMOGENESIS HOLDINGS INC
$5.47M$0.12$1.00740.34%Buy136.09%N/A63.15%16.02%
AXNX
AXONICS INC
$3.48B$70.34$81.1115.31%Strong Buy1015.03%N/A-7.57%-6.58%
CLPT
CLEARPOINT NEURO INC
$239.41M$9.75$15.0053.85%Strong Buy165.30%N/A28.32%19.56%
TELA
TELA BIO INC
$160.55M$8.38$17.50108.83%Strong Buy226.90%N/A-86.34%-25.28%
TMDX
TRANSMEDICS GROUP INC
$2.05B$64.29$46.20-28.14%Buy522.84%N/A-12.07%-8.25%
NSPR
INSPIREMD INC
$10.84M$1.30$10.49707.23%Strong Buy1N/AN/AN/AN/A
HYPR
HYPERFINE INC
$54.70M$0.78$4.30454.84%Buy3N/AN/AN/AN/A
ASXC
ASENSUS SURGICAL INC
$96.39M$0.41$2.25452.83%Strong Buy276.17%N/A-37.73%-33.14%
POCI
PRECISION OPTICS CORPORATION INC
$33.60M$5.96N/AN/AN/AN/AN/AN/AN/AN/A
ZBH
ZIMMER BIOMET HOLDINGS INC
$25.81B$122.97$122.60-0.30%Hold170.85%78.34%14.22%8.16%
MDGS
MEDIGUS LTD
$9.87M$5.99N/AN/AN/AN/A-92.68%N/A-1.09%-0.52%
INVO
INVO BIOSCIENCE INC
$9.82M$0.81$4.50457.62%Buy267.77%N/A283.54%78.02%
SGHT
SIGHT SCIENCES INC
$574.45M$11.93$17.7548.78%Buy622.43%N/A-34.53%-26.51%
VRAY
VIEWRAY INC
$867.17M$4.78$6.8042.26%Strong Buy525.16%N/A-36.54%-14.64%
MDXG
MIMEDX GROUP INC
$386.47M$3.40$7.50120.59%Strong Buy211.58%N/A-244.57%27.63%
CSII
CARDIOVASCULAR SYSTEMS INC
$583.42M$13.93$20.0043.58%Buy19.04%N/A-7.26%-5.64%
INSP
INSPIRE MEDICAL SYSTEMS INC
$6.92B$239.49$267.0011.49%Strong Buy419.85%N/A3.63%3.23%
DNAY
TELESIS BIO INC
$40.74M$1.38$5.00262.32%Strong Buy146.79%N/AN/AN/A
NARI
INARI MEDICAL INC
$3.88B$72.39$91.7526.74%Strong Buy812.57%N/A2.97%2.53%
EDAP
EDAP TMS SA
$379.86M$11.35$11.501.32%Strong Buy211.72%-4.78%12.94%9.17%
RMED
RA MEDICAL SYSTEMS INC
$10.01M$4.63$6.5541.47%Strong Buy21,385.63%N/A36.11%25.86%
RCEL
AVITA MEDICAL INC
$172.46M$6.89$16.03132.70%Strong Buy32.56%N/A-62.02%-54.60%
RBOT
VICARIOUS SURGICAL INC
$402.60M$3.29$10.75226.75%Buy4N/AN/A-56.16%-40.61%
PRCT
PROCEPT BIOROBOTICS CORP
$2.09B$46.78$45.17-3.45%Strong Buy743.20%N/A-4.25%-2.90%
SILK
SILK ROAD MEDICAL INC
$2.08B$54.52$42.50-22.05%Hold414.54%N/A-79.31%-27.91%
SSKN
STRATA SKIN SCIENCES INC
$29.83M$0.86$4.30400.58%Strong Buy210.16%N/A-6.37%-2.61%
BBLG
BONE BIOLOGICS CORP
$4.28M$0.28$2.25703.57%Strong Buy1N/AN/A-542.34%-458.97%
NNOX
NANO-X IMAGING LTD
$558.04M$10.67$35.50232.71%Buy3235.75%N/A135.27%109.67%
SPNE
SEASPINE HOLDINGS CORP
$291.67M$7.84$13.2569.01%Strong Buy39.30%N/A-7.73%-5.67%
APEN
APOLLO ENDOSURGERY INC
$419.67M$10.08$10.504.17%Strong Buy410.41%N/A-60.02%-21.89%
CTKB
CYTEK BIOSCIENCES INC
$1.76B$13.07$16.0022.42%Strong Buy319.60%N/A7.12%5.94%
AXGN
AXOGEN INC
$468.96M$11.09$14.6732.25%Strong Buy315.70%N/A-17.51%-9.08%
ELMD
ELECTROMED INC
$84.51M$9.96$16.7568.17%Strong Buy2N/AN/AN/AN/A
VVOS
VIVOS THERAPEUTICS INC
$11.05M$0.48$4.00733.33%Strong Buy121.94%N/A-10.94%-7.79%
NVNO
ENVVENO MEDICAL CORP
$56.16M$5.93$23.00287.92%Strong Buy1N/AN/A-48.83%-45.84%
OFIX
ORTHOFIX MEDICAL INC
$400.56M$20.02$45.00124.78%Strong Buy1-1.33%N/A2.76%2.05%
INGN
INOGEN INC
$527.18M$23.00$29.3327.53%Hold35.60%N/A-1.24%-0.93%
TIVC
TIVIC HEALTH SYSTEMS INC
$11.61M$1.20N/AN/AN/AN/A53.16%N/A-137.49%-96.68%
TNDM
TANDEM DIABETES CARE INC
$2.75B$42.75$79.6386.26%Strong Buy812.46%N/A33.84%13.63%
NUWE
NUWELLIS INC
$4.54M$0.14$3.502,330.56%Strong Buy2N/AN/A-92.24%-70.12%
RXST
RXSIGHT INC
$393.65M$14.20$18.0026.76%Buy232.99%N/A-64.71%-39.88%
IRIX
IRIDEX CORP
$37.58M$2.35$3.0027.66%Hold10.19%N/A-27.42%-11.03%
LUCD
LUCID DIAGNOSTICS INC
$78.22M$2.00$8.65332.50%Strong Buy4N/AN/A-214.48%-153.88%
NAOV
NANOVIBRONIX INC
$10.89M$0.39N/AN/AN/AN/AN/AN/AN/AN/A
BTCY
BIOTRICITY INC
$53.72M$1.06$3.50230.19%Buy3129.59%N/A-81.10%106.99%
CFMS
CONFORMIS INC
$25.26M$3.36$8.00138.10%Buy10.77%N/A-3.07%-1.80%
AVGR
AVINGER INC
$9.29M$1.25$6.00380.00%Strong Buy118.16%N/A-542.71%-96.03%
KNW
KNOW LABS INC
N/A$1.69$7.00314.20%Strong Buy1326.65%N/A619.04%316.30%
VANI
VIVANI MEDICAL INC
$70.02M$1.38N/AN/AStrong Buy1N/AN/AN/AN/A
XAIR
BEYOND AIR INC
$186.95M$6.25$21.50244.00%Strong Buy2N/AN/A15.77%11.30%
TMCI
TREACE MEDICAL CONCEPTS INC
$1.33B$23.99$27.6715.33%Strong Buy319.34%N/AN/AN/A
AFIB
ACUTUS MEDICAL INC
$26.75M$0.94$2.00112.77%Buy317.76%N/AN/AN/A
CUTR
CUTERA INC
$1.01B$51.30$66.5029.63%Strong Buy213.74%N/AN/AN/A
NPCE
NEUROPACE INC
$39.35M$1.58$8.63445.89%Hold415.27%N/A-98.10%-35.35%
BSX
BOSTON SCIENTIFIC CORP
$66.75B$46.60$48.253.54%Strong Buy135.12%75.15%19.49%10.76%
NUVA
NUVASIVE INC
$2.08B$39.97$52.4631.24%Buy115.22%N/A20.67%7.91%

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in Dec 2022?

According to Zen Score, the 3 best medical equipment stocks to buy right now are:

1. Shockwave Medical (NASDAQ:SWAV)


Shockwave Medical (NASDAQ:SWAV) is the top medical device stock with a Zen Score of 62, which is 30 points higher than the medical device industry average of 32. It passed 21 out of 33 due diligence checks and has strong fundamentals. Shockwave Medical has seen its stock return 44.84% over the past year, overperforming other medical device stocks by 71 percentage points.

Shockwave Medical has an average 1 year price target of $253.83, an upside of 1.58% from Shockwave Medical's current stock price of $249.89.

Shockwave Medical stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Shockwave Medical, 33.33% have issued a Strong Buy rating, 33.33% have issued a Buy, 16.67% have issued a hold, while 16.67% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second best medical device stock with a Zen Score of 58, which is 26 points higher than the medical device industry average of 32. It passed 19 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -47.86% over the past year, underperforming other medical device stocks by -22 percentage points.

Inmode has an average 1 year price target of $46.67, an upside of 24.31% from Inmode's current stock price of $37.54.

Inmode stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Inmode, 66.67% have issued a Strong Buy rating, 33.33% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Sensus Healthcare (NASDAQ:SRTS)


Sensus Healthcare (NASDAQ:SRTS) is the third best medical device stock with a Zen Score of 57, which is 25 points higher than the medical device industry average of 32. It passed 18 out of 33 due diligence checks and has strong fundamentals. Sensus Healthcare has seen its stock lose -9.59% over the past year, overperforming other medical device stocks by 16 percentage points.

Sensus Healthcare has an average 1 year price target of $16.25, an upside of 142.9% from Sensus Healthcare's current stock price of $6.69.

Sensus Healthcare stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Sensus Healthcare, 50% have issued a Strong Buy rating, 50% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

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. Iradimed (NASDAQ:IRMD)


Iradimed (NASDAQ:IRMD) has an annual dividend yield of 3.35%, which is 2 percentage points higher than the medical device industry average of 1.66%.

Iradimed's dividend payout ratio of 96.2% indicates that its dividend yield might not be sustainable for the long-term.

2. Medtronic (NYSE:MDT)


Medtronic (NYSE:MDT) has an annual dividend yield of 3.29%, which is 2 percentage points higher than the medical device industry average of 1.66%. 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 81.1% indicates that its dividend yield is sustainable for the long-term.

3. Smith & Nephew (NYSE:SNN)


Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.76%, which is 1 percentage points higher than the medical device industry average of 1.66%. 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 66.3% indicates that its dividend yield is sustainable for the long-term.

Why are medical device stocks up?

Medical device stocks were up 0.01% in the last day, and up 2.99% over the last week.

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

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 71, which is 42 points higher than the medical device industry average of 29. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -47.86% in the past year. It has underperformed other stocks in the medical device industry by -22 percentage points.

2. Isoplexis (NASDAQ:ISO)


Isoplexis (NASDAQ:ISO) is the second most undervalued medical device stock based on WallStreetZen's Valuation Score. Isoplexis has a valuation score of 71, which is 42 points higher than the medical device industry average of 29. It passed 5 out of 7 valuation due diligence checks.

Isoplexis's stock has dropped -87.44% in the past year. It has underperformed other stocks in the medical device industry by -61 percentage points.

3. Fonar (NASDAQ:FONR)


Fonar (NASDAQ:FONR) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. Fonar has a valuation score of 71, which is 42 points higher than the medical device industry average of 29. It passed 5 out of 7 valuation due diligence checks.

Fonar's stock has gained 11.12% in the past year. It has overperformed other stocks in the medical device industry by 37 percentage points.

Are medical device stocks a good buy now?

62.32% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 29.05% 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 63.81x.
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.