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 +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:

Tactile Systems Technology (NASDAQ:TCMD) is the #1 top medical device stock out of 139 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 Tactile Systems Technology (NASDAQ:TCMD) is: Value: B, Growth: B, Momentum: B, Sentiment: A, Safety: C, Financials: A, and AI: C.

Tactile Systems Technology (NASDAQ:TCMD) has a Due Diligence Score of 50, which is 24 points higher than the medical device industry average of 26.

TCMD passed 16 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock return 74.13% over the past year, overperforming other medical device stocks by 165 percentage points.

Tactile Systems Technology has an average 1 year price target of $27.00, a downside of -9.85% from Tactile Systems Technology's current stock price of $29.95.

Tactile Systems Technology stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Tactile Systems Technology, 75% have issued a Strong Buy rating, 0% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Varex Imaging (NASDAQ:VREX) is the #2 top medical device stock out of 139 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 Varex Imaging (NASDAQ:VREX) is: Value: B, Growth: A, Momentum: C, Sentiment: A, Safety: B, Financials: C, and AI: C.

Varex Imaging (NASDAQ:VREX) has a Due Diligence Score of 20, which is -6 points lower than the medical device industry average of 26. Although this number is below the industry average, our proven quant model rates VREX as a "A".

VREX passed 6 out of 33 due diligence checks and has weak fundamentals. Varex Imaging has seen its stock return 0.6% over the past year, overperforming other medical device stocks by 91 percentage points.

Varex Imaging has an average 1 year price target of $16.67, an upside of 23.83% from Varex Imaging's current stock price of $13.46.

Varex Imaging stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Varex Imaging, 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.

Bioventus (NASDAQ:BVS) is the #3 top medical device stock out of 139 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 Bioventus (NASDAQ:BVS) is: Value: A, Growth: B, Momentum: C, Sentiment: B, Safety: B, Financials: B, and AI: C.

Bioventus (NASDAQ:BVS) has a Due Diligence Score of 34, which is 8 points higher than the medical device industry average of 26.

BVS passed 11 out of 33 due diligence checks and has average fundamentals. Bioventus has seen its stock lose -15.94% over the past year, overperforming other medical device stocks by 75 percentage points.

Out of 8 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 2.39%, which is 1 percentage points higher than the medical device industry average of 1.12%. 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 66.7% indicates that its dividend yield is sustainable for the long-term.

Conmed (NYSE:CNMD) has an annual dividend yield of 1.5%, which is the same as the medical device industry average of 1.12%. 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 38.8% indicates that its dividend yield is sustainable for the long-term.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 1.42%, which is the same as the medical device industry average of 1.12%. 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 29.5% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were down -1.72% in the last day, and down -2.8% over the last week. Co Diagnostics was the among the top losers in the medical devices industry, dropping -60.54% yesterday.

Co-Diagnostics shares are trading lower after the company announced it will be delisted from the Nasdaq.

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 57 points higher than the medical device industry average of 14. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -12.15% in the past year. It has overperformed other stocks in the medical device industry by 79 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 71, which is 57 points higher than the medical device industry average of 14. It passed 5 out of 7 valuation due diligence checks.

Conmed's stock has dropped -42.4% in the past year. It has overperformed other stocks in the medical device industry by 48 percentage points.

Bioventus (NASDAQ:BVS) 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.

Bioventus has a valuation score of 43, which is 29 points higher than the medical device industry average of 14. It passed 3 out of 7 valuation due diligence checks.

Bioventus's stock has dropped -15.94% in the past year. It has overperformed other stocks in the medical device industry by 75 percentage points.

56.7% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 38.62% over the next year.

11.76% of medical device stocks have a Zen Rating of A (Strong Buy), 19.61% of medical device stocks are rated B (Buy), 46.08% are rated C (Hold), 17.65% are rated D (Sell), and 4.9% are rated F (Strong Sell).