Sectors & IndustriesHealthcareMedical Devices

Best Medical Device Stocks to Buy Now (2025)

Top medical device stocks in 2025 ranked by overall Zen Rating. "A" Rated stocks have returned an average of +32.52% 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:

Livanova (NASDAQ:LIVN) is the #1 top medical device stock out of 140 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

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

Livanova (NASDAQ:LIVN) has a Due Diligence Score of 17, which is -10 points lower than the medical device industry average of 27. Although this number is below the industry average, our proven quant model rates LIVN as a "A".

LIVN passed 5 out of 33 due diligence checks and has weak fundamentals. Livanova has seen its stock return 21.36% over the past year, overperforming other medical device stocks by 54 percentage points.

Livanova has an average 1 year price target of $59.60, an upside of 5.32% from Livanova's current stock price of $56.59.

Livanova stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Livanova, 20% have issued a Strong Buy rating, 60% have issued a Buy, 20% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Steris (NYSE:STE) is the #2 top medical device stock out of 140 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

The Component Grade breakdown for Steris (NYSE:STE) is: Value: C, Growth: B, Momentum: C, Sentiment: C, Safety: B, Financials: B, and AI: B.

Steris (NYSE:STE) has a Due Diligence Score of 32, which is 5 points higher than the medical device industry average of 27.

STE passed 13 out of 38 due diligence checks and has average fundamentals. Steris has seen its stock return 5.75% over the past year, overperforming other medical device stocks by 38 percentage points.

Steris has an average 1 year price target of $275.20, an upside of 10.71% from Steris's current stock price of $248.58.

Steris stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Steris, 60% have issued a Strong Buy rating, 20% have issued a Buy, 20% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Electromed (NYSEMKT:ELMD) is the #3 top medical device stock out of 140 with a Zen Rating of A. Stocks with a rating of A have had an average return of +32.52% per year. Learn more.

The Component Grade breakdown for Electromed (NYSEMKT:ELMD) is: Value: B, Growth: C, Momentum: D, Sentiment: B, Safety: A, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 47, which is 20 points higher than the medical device industry average of 27.

ELMD passed 15 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock return 37.64% over the past year, overperforming other medical device stocks by 70 percentage points.

Electromed has an average 1 year price target of $29.00, an upside of 40.37% from Electromed's current stock price of $20.66.

Electromed stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 1 analyst covering Electromed, 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.

Out of 7 medical device stocks that have issued dividends in the past year, the 3 medical device stocks with the highest dividend yields are:

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.01%, which is 1 percentage points higher than the medical device industry average of 1.05%. 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 66.7% indicates that its dividend yield is sustainable for the long-term.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 1.31%, which is the same as the medical device industry average of 1.05%. 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 29% indicates that its dividend yield is sustainable for the long-term.

Conmed (NYSE:CNMD) has an annual dividend yield of 1.1%, which is the same as the medical device industry average of 1.05%. Conmed's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Conmed's dividend has not shown consistent growth over the last 10 years.

Conmed's dividend payout ratio of 22.5% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were up 0.45% in the last day, and up 1.87% over the last week. Autonomix Medical was the among the top gainers in the medical devices industry, gaining 13.73% yesterday.

Autonomix Medical shares are trading higher after the company announced it entered into a $15 million purchase agreement.

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 56 points higher than the medical device industry average of 15. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -7.52% in the past year. It has overperformed other stocks in the medical device industry by 25 percentage points.

Conmed (NYSE:CNMD) 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.

Conmed has a valuation score of 43, which is 28 points higher than the medical device industry average of 15. It passed 3 out of 7 valuation due diligence checks.

Conmed's stock has dropped -24.36% in the past year. It has overperformed other stocks in the medical device industry by 8 percentage points.

Tactile Systems Technology (NASDAQ:TCMD) 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.

Tactile Systems Technology 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.

Tactile Systems Technology's stock has dropped -1.89% in the past year. It has overperformed other stocks in the medical device industry by 30 percentage points.

51.4% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 27.97% over the next year.

5.5% of medical device stocks have a Zen Rating of A (Strong Buy), 18.35% of medical device stocks are rated B (Buy), 42.2% are rated C (Hold), 25.69% are rated D (Sell), and 8.26% are rated F (Strong Sell).