Sectors & IndustriesHealthcareMedical Devices

Best Medical Device Stocks to Buy Now (2026)

Top medical device stocks in 2026 ranked by overall Zen Rating. "A" Rated stocks have returned an average of +28.50% 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:

Anika Therapeutics (NASDAQ:ANIK) is the #1 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Anika Therapeutics (NASDAQ:ANIK) is: Value: C, Growth: B, Momentum: B, Sentiment: C, Safety: C, Financials: C, and AI: C.

Anika Therapeutics (NASDAQ:ANIK) has a Due Diligence Score of 34, which is 4 points higher than the medical device industry average of 30.

ANIK passed 10 out of 33 due diligence checks and has average fundamentals. Anika Therapeutics has seen its stock return 44.69% over the past year, overperforming other medical device stocks by 135 percentage points.

Anika Therapeutics has an average 1 year price target of $22.00, an upside of 51% from Anika Therapeutics's current stock price of $14.57.

Anika Therapeutics stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Anika Therapeutics, 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.

Axogen (NASDAQ:AXGN) is the #2 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Axogen (NASDAQ:AXGN) is: Value: C, Growth: A, Momentum: C, Sentiment: A, Safety: C, Financials: C, and AI: B.

Axogen (NASDAQ:AXGN) has a Due Diligence Score of 36, which is 6 points higher than the medical device industry average of 30.

AXGN passed 12 out of 33 due diligence checks and has average fundamentals. Axogen has seen its stock return 111% over the past year, overperforming other medical device stocks by 201 percentage points.

Axogen has an average 1 year price target of $56.44, an upside of 11.46% from Axogen's current stock price of $50.64.

Axogen stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 9 analysts covering Axogen, 55.56% have issued a Strong Buy rating, 44.44% have issued a Buy, 0% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Glaukos (NYSE:GKOS) is the #3 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Glaukos (NYSE:GKOS) is: Value: C, Growth: A, Momentum: B, Sentiment: A, Safety: D, Financials: B, and AI: C.

Glaukos (NYSE:GKOS) has a Due Diligence Score of 39, which is 9 points higher than the medical device industry average of 30.

GKOS passed 13 out of 33 due diligence checks and has average fundamentals. Glaukos has seen its stock return 170.22% over the past year, overperforming other medical device stocks by 261 percentage points.

Glaukos has an average 1 year price target of $224.83, a downside of -5.83% from Glaukos's current stock price of $238.74.

Glaukos stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 12 analysts covering Glaukos, 66.67% have issued a Strong Buy rating, 16.67% have issued a Buy, 16.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

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:

Koninklijke Philips Nv (NYSE:PHG) has an annual dividend yield of 3.29%, which is 2 percentage points higher than the medical device industry average of 1.63%. Koninklijke Philips Nv's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Koninklijke Philips Nv's dividend has shown consistent growth over the last 10 years.

Koninklijke Philips Nv's dividend payout ratio of -109.6% indicates that its dividend yield might not be sustainable for the long-term.

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.52%, which is 1 percentage points higher than the medical device industry average of 1.63%. 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 51.9% indicates that its dividend yield is sustainable for the long-term.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 2.28%, which is 1 percentage points higher than the medical device industry average of 1.63%. 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 93.7% indicates that its dividend yield might not be sustainable for the long-term.

Medical device stocks were up 2.83% in the last day, and up 4.79% over the last week. Modular Medical was the among the top gainers in the medical devices industry, gaining 39.1% yesterday.

Modular Medical shares are trading higher after the company announced the completion of an extensive market research study conducted in partnership with Thrivable.

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 54 points higher than the medical device industry average of 17. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -7.47% in the past year. It has overperformed other stocks in the medical device industry by 83 percentage points.

Integra Lifesciences Holdings (NASDAQ:IART) 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.

Integra Lifesciences Holdings has a valuation score of 57, which is 40 points higher than the medical device industry average of 17. It passed 4 out of 7 valuation due diligence checks.

Integra Lifesciences Holdings's stock has gained 17.98% in the past year. It has overperformed other stocks in the medical device industry by 108 percentage points.

Sanuwave Health (NASDAQ:SNWV) 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.

Sanuwave Health has a valuation score of 29, which is 12 points higher than the medical device industry average of 17. It passed 2 out of 7 valuation due diligence checks.

Sanuwave Health's stock has dropped -94.6% in the past year. It has underperformed other stocks in the medical device industry by -4 percentage points.

55.79% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 18.8% over the next year.

3.06% of medical device stocks have a Zen Rating of A (Strong Buy), 23.47% of medical device stocks are rated B (Buy), 58.16% are rated C (Hold), 12.24% are rated D (Sell), and 3.06% are rated F (Strong Sell).