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:

Bioventus (NASDAQ:BVS) is the #1 top medical device stock out of 144 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: B, Growth: A, Momentum: C, Sentiment: B, Safety: B, Financials: B, and AI: C.

Bioventus (NASDAQ:BVS) has a Due Diligence Score of 15, which is -12 points lower than the medical device industry average of 27. Although this number is below the industry average, our proven quant model rates BVS as a "A".

BVS passed 5 out of 33 due diligence checks and has weak fundamentals. Bioventus has seen its stock return 85.16% over the past year, overperforming other medical device stocks by 102 percentage points.

Bioventus has an average 1 year price target of $15.00, an upside of 56.09% from Bioventus's current stock price of $9.61.

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

Electromed (NYSEMKT:ELMD) is the #2 top medical device stock out of 144 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: C, Growth: C, Momentum: C, Sentiment: B, Safety: B, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 49, which is 22 points higher than the medical device industry average of 27.

ELMD passed 16 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock return 49.03% over the past year, overperforming other medical device stocks by 66 percentage points.

Electromed has an average 1 year price target of $38.00, an upside of 54.35% from Electromed's current stock price of $24.62.

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.

Axogen (NASDAQ:AXGN) is the #3 top medical device stock out of 144 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 Axogen (NASDAQ:AXGN) is: Value: C, Growth: A, Momentum: C, Sentiment: C, Safety: B, Financials: B, and AI: A.

Axogen (NASDAQ:AXGN) has a Due Diligence Score of 24, which is -3 points lower than the medical device industry average of 27. Although this number is below the industry average, our proven quant model rates AXGN as a "A".

AXGN passed 8 out of 33 due diligence checks and has weak fundamentals. Axogen has seen its stock return 122.29% over the past year, overperforming other medical device stocks by 139 percentage points.

Axogen has an average 1 year price target of $25.50, an upside of 47.83% from Axogen's current stock price of $17.25.

Axogen stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Axogen, 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.

Out of 4 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 2.63%, which is 2 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 79.4% indicates that its dividend yield is sustainable for the long-term.

Iradimed (NASDAQ:IRMD) has an annual dividend yield of 0.86%, which is the same as the medical device industry average of 1.12%.

Iradimed's dividend payout ratio of 29.6% indicates that its dividend yield is sustainable for the long-term.

Steris (NYSE:STE) has an annual dividend yield of 0.73%, which is the same as the medical device industry average of 1.12%. Steris's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Steris's dividend has shown consistent growth over the last 10 years.

Steris's dividend payout ratio of 46% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were up 2.22% in the last day, and down -3.23% over the last week. Penumbra was the among the top gainers in the medical devices industry, gaining 4.6% yesterday.

Penumbra shares are trading higher after B of A Securities initiated coverage on the stock with a Buy rating and announced a price target of $320.

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 -14.16% in the past year. It has overperformed other stocks in the medical device industry by 3 percentage points.

Livanova (NASDAQ:LIVN) 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.

Livanova 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.

Livanova's stock has dropped -23.24% in the past year. It has underperformed other stocks in the medical device industry by -6 percentage points.

Adapthealth (NASDAQ:AHCO) 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.

Adapthealth 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.

Adapthealth's stock has dropped -5.42% in the past year. It has overperformed other stocks in the medical device industry by 12 percentage points.

61.86% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 37.85% over the next year.

4.72% of medical device stocks have a Zen Rating of A (Strong Buy), 21.7% of medical device stocks are rated B (Buy), 53.77% are rated C (Hold), 16.04% are rated D (Sell), and 3.77% are rated F (Strong Sell).