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Best Medical Device Stocks to Buy Now (2023)
Top medical device stocks in 2023 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
Performance Score
Market Cap
Revenue
EBITDA
Earnings
EPS
Revenue Growth Y/Y
Revenue Growth 5Y
Earnings Growth Y/Y
Earnings Growth 5Y
Earnings Date
SRTS
SENSUS HEALTHCARE INC
$87.88M$44.45M$29.29M$26.73M$1.61132.60%18.54%N/AN/A2023-05-03
SMLR
SEMLER SCIENTIFIC INC
$149.86M$54.43M$16.06M$12.62M$1.871.63%38.83%-40.82%N/A2023-05-01
INMD
INMODE LTD
$2.61B$454.27M$202.15M$161.52M$1.9627.05%53.41%-3.45%68.34%2023-05-01
QIPT
QUIPT HOME MEDICAL CORP
$232.50M$113.65M$24.55M$5.48M$0.1629.42%N/AN/AN/A2023-05-15
CTKB
CYTEK BIOSCIENCES INC
$1.27B$164.04M$9.58M$2.58M$0.0228.20%N/AN/AN/A2023-05-10
SWAV
SHOCKWAVE MEDICAL INC
$7.85B$489.73M$130.61M$216.00M$6.02106.51%209.70%N/AN/A2023-05-08
VREX
VAREX IMAGING CORP
$727.01M$866.20M$119.80M$32.00M$0.813.14%3.86%24.62%-9.98%2023-05-01
BRKR
BRUKER CORP
$10.85B$2.53B$501.80M$296.60M$2.004.67%7.46%9.29%31.95%2023-05-02
ALGN
ALIGN TECHNOLOGY INC
$25.10B$3.73B$755.37M$361.57M$4.62-5.51%20.44%-52.76%9.84%2023-04-26
IRMD
IRADIMED CORP
$483.58M$53.30M$16.85M$12.83M$1.0227.48%18.22%34.21%82.78%2023-04-27
KIDS
ORTHOPEDIATRICS CORP
$990.79M$122.29M$11.83M$1.26M$0.0624.72%21.80%N/AN/A2023-05-02
AHCO
ADAPTHEALTH CORP
$1.95B$2.97B$586.94M$69.32M$0.4721.02%72.84%-58.04%N/A2023-05-08
AVNS
AVANOS MEDICAL INC
$1.37B$820.00M$122.90M$50.50M$1.0810.13%6.04%730.77%-8.57%2023-05-02
NVCN
NEOVASC INC
$80.64M$3.11M-$31.51M-$33.52M-$12.2935.14%-14.78%N/AN/A2023-05-10
EW
EDWARDS LIFESCIENCES CORP
$49.72B$5.38B$1.95B$1.52B$2.462.86%9.40%2.07%21.66%2023-04-24
AEMD
AETHLON MEDICAL INC
$8.84M$13.12k-$13.12M-$13.35M-$0.74-95.84%-29.41%N/AN/A
VMD
VIEMED HEALTHCARE INC
$375.59M$138.83M$24.82M$6.22M$0.1618.60%24.23%-30.43%-6.17%2023-05-01
GMED
GLOBUS MEDICAL INC
$5.33B$1.02B$297.04M$190.17M$1.896.76%9.97%27.70%11.03%2023-05-08
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
$4.47B$1.56B$384.60M$180.55M$2.180.99%5.56%9.00%21.01%2023-04-25
MASS
908 DEVICES INC
$222.73M$46.85M-$31.82M-$33.56M-$1.0711.01%N/AN/AN/A2023-05-08
RWLK
REWALK ROBOTICS LTD
$38.96M$5.51M-$18.90M-$19.57M-$0.31-7.63%-6.60%N/AN/A2023-05-11
ABT
ABBOTT LABORATORIES
$170.89B$43.65B$12.13B$6.93B$3.941.34%9.77%-0.76%70.93%2023-04-18
LUNG
PULMONX CORP
$472.11M$53.66M-$53.49M-$58.92M-$1.5910.84%N/AN/AN/A2023-05-01
MDT
MEDTRONIC PLC
$108.07B$30.77B$8.69B$4.06B$3.05-3.19%0.69%-16.44%8.16%
EDAP
EDAP TMS SA
$375.84M$53.90M$4.61M$3.60M$0.09-0.21%N/A650.00%N/A2023-03-30
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
$6.63M$787.00k-$12.93M-$14.07M-$1.0450.77%N/AN/AN/A2023-05-10
POCI
PRECISION OPTICS CORPORATION INC
$34.39M$20.42M$1.13M$716.31k$0.1479.65%41.93%N/AN/A2023-05-15
PODD
INSULET CORP
$22.67B$1.31B$99.70M$4.60M$0.0718.79%22.99%-72.00%N/A2023-05-03
NUVA
NUVASIVE INC
$1.97B$1.20B$216.78M$40.41M$0.785.53%3.20%N/A-13.38%2023-05-02
ZYXI
ZYNEX INC
$407.01M$158.17M$26.57M$17.05M$0.4421.39%46.51%-2.22%16.05%2023-04-26
AXGN
AXOGEN INC
$379.58M$138.58M-$23.47M-$28.95M-$0.698.81%18.06%N/AN/A2023-05-02
RCEL
AVITA MEDICAL INC
$341.24M$37.64M-$25.35M-$26.67M-$1.078.73%N/AN/AN/A2023-05-11
SGHT
SIGHT SCIENCES INC
$455.14M$71.33M-$80.48M-$86.24M-$1.8045.70%N/AN/AN/A2023-05-09
CVRX
CVRX INC
$195.94M$22.47M-$40.74M-$41.43M-$2.0272.36%N/AN/AN/A2023-04-24
INSP
INSPIRE MEDICAL SYSTEMS INC
$7.22B$407.86M-$39.69M-$44.88M-$1.6074.75%70.19%N/AN/A2023-05-01
QTRX
QUANTERIX CORP
$439.53M$105.52M-$95.70M-$96.70M-$2.61-4.55%35.77%N/AN/A2023-05-08
NSPR
INSPIREMD INC
$10.34M$5.53M-$17.53M-$17.74M-$2.2768.81%19.69%N/AN/A2023-03-30
SYK
STRYKER CORP
$105.36B$18.45B$3.05B$2.36B$6.237.84%8.19%17.77%17.94%2023-04-26
AXNX
AXONICS INC
$3.03B$273.70M-$48.16M-$59.70M-$1.2851.81%363.46%N/AN/A2023-05-03
VRAY
VIEWRAY INC
$636.32M$102.21M-$97.35M-$107.33M-$0.5945.76%24.59%N/AN/A2023-05-03
NPCE
NEUROPACE INC
$89.35M$45.52M-$36.57M-$47.08M-$1.910.75%N/AN/AN/A2023-05-11
NNOX
NANO-X IMAGING LTD
$362.56M$8.58M-$98.20M-$105.24M-$2.01557.82%N/AN/AN/A2023-05-17
HYPR
HYPERFINE INC
$109.39M$5.83M-$85.10M-$86.19M-$11.02359.83%N/AN/AN/A2023-05-10
TELA
TELA BIO INC
$200.98M$38.17M-$38.02M-$42.94M-$2.8642.66%N/AN/AN/A2023-05-08
ELMD
ELECTROMED INC
$85.74M$43.80M$3.25M$2.09M$0.2513.74%9.99%8.70%0.00%2023-05-08
FONR
FONAR CORP
$110.94M$96.83M$23.70M$8.28M$1.250.87%3.79%-30.17%-15.84%2023-05-15
MDGS
MEDIGUS LTD
$6.87M$69.70M-$6.53M-$8.63M-$2.402,182.84%182.84%N/AN/A
APYX
APYX MEDICAL CORP
$90.65M$44.51M-$21.91M-$23.18M-$0.67-8.26%34.18%N/AN/A2023-05-10
OFIX
ORTHOFIX MEDICAL INC
$616.83M$460.71M$12.60M-$19.75M-$0.98-0.81%1.21%N/AN/A2023-05-04
SIBN
SI-BONE INC
$690.27M$106.41M-$54.99M-$61.26M-$1.7918.03%17.27%N/AN/A2023-05-08
INVO
INVO BIOSCIENCE INC
$7.71M$3.59M-$7.76M-$8.27M-$0.64174.55%76.40%N/AN/A2023-03-29
RPID
RAPID MICRO BIOSYSTEMS INC
$54.42M$17.13M-$59.18M-$60.81M-$1.43-26.25%N/AN/AN/A2023-05-09
SNN
SMITH & NEPHEW PLC
$12.58B$5.22B$932.00M$223.00M$0.510.06%1.82%-57.36%-21.91%2023-04-26
NARI
INARI MEDICAL INC
$3.53B$383.47M-$18.77M-$29.27M-$0.5538.45%N/AN/AN/A2023-05-02
ZBH
ZIMMER BIOMET HOLDINGS INC
$26.71B$6.94B$1.43B$231.40M$1.101.65%-2.32%-43.01%-34.29%2023-05-01
NUWE
NUWELLIS INC
$6.03M$8.54M-$4.90M-$14.53M-$83.557.85%19.18%N/AN/A2023-05-08
SONX
SONENDO INC
$101.17M$41.66M-$51.00M-$57.05M-$1.2725.48%N/AN/AN/A2023-05-09
OM
OUTSET MEDICAL INC
$1.07B$115.38M-$152.81M-$162.96M-$3.3812.45%N/AN/AN/A2023-05-02
TNDM
TANDEM DIABETES CARE INC
$2.82B$801.22M-$72.31M-$94.59M-$1.4714.00%49.41%N/AN/A2023-05-02
ASXC
ASENSUS SURGICAL INC
$165.10M$7.09M-$63.76M-$75.56M-$0.32-13.91%-0.07%N/AN/A2023-05-02
ITGR
INTEGER HOLDINGS CORP
$2.47B$1.38B$218.52M$66.38M$2.0012.70%3.91%-31.74%-1.16%2023-04-26
CUTR
CUTERA INC
$532.76M$250.68M-$70.76M-$78.49M-$4.2116.28%12.08%N/AN/A2023-05-08
PROF
PROFOUND MEDICAL CORP
$210.26M$4.95M-$10.88M-$12.28M-$1.02-9.18%4.83%N/AN/A2023-05-08
VANI
VIVANI MEDICAL INC
$47.18M$0.00-$4.84M-$5.15M-$0.44N/A-100.00%N/AN/A2023-03-24
NVNO
ENVVENO MEDICAL CORP
$47.45M$0.00-$24.14M-$24.67M-$2.20N/A-100.00%N/AN/A2023-03-27
NAOV
NANOVIBRONIX INC
$5.31M$1.63M-$5.83M-$5.86M-$4.4061.29%49.52%N/AN/A
CSII
CARDIOVASCULAR SYSTEMS INC
$828.27M$239.84M-$31.13M-$37.87M-$0.96-4.74%2.95%N/AN/A2023-05-02
THMO
THERMOGENESIS HOLDINGS INC
$4.08M$10.23M-$4.57M-$10.49M-$30.6015.89%-5.86%N/AN/A2023-03-27
CTSO
CYTOSORBENTS CORP
$144.96M$34.69M-$32.91M-$32.81M-$0.75-19.64%18.02%N/AN/A2023-05-01
CLPT
CLEARPOINT NEURO INC
$193.18M$20.55M-$15.58M-$16.44M-$0.6826.09%22.73%N/AN/A2023-05-09
ICCM
ICECURE MEDICAL LTD
$39.78M$3.53M-$15.72M-$16.19M-$0.46-6.52%N/AN/AN/A2023-05-17
RXST
RXSIGHT INC
$531.97M$49.01M-$57.78M-$66.76M-$2.41116.90%N/AN/AN/A2023-05-04
PRCT
PROCEPT BIOROBOTICS CORP
$1.46B$75.01M-$77.65M-$87.15M-$1.96117.60%N/AN/AN/A2023-05-04
NMRD
NEMAURA MEDICAL INC
$20.52M$397.32k-$7.39M-$13.08M-$0.54116.37%N/AN/AN/A
SILK
SILK ROAD MEDICAL INC
$1.62B$138.64M-$46.91M-$55.18M-$1.5436.62%57.60%N/AN/A2023-05-02
BFLY
BUTTERFLY NETWORK INC
$407.15M$73.39M-$145.38M-$150.24M-$0.7623.91%N/AN/AN/A2023-05-03
BJDX
BLUEJAY DIAGNOSTICS INC
$9.21M$249.04k-$8.99M-$9.30M-$0.46N/AN/AN/AN/A2023-04-20
NMTC
NEUROONE MEDICAL TECHNOLOGIES CORP
$25.69M$3.65M-$8.69M-$8.92M-$0.561,827.66%N/AN/AN/A2023-05-10
XAIR
BEYOND AIR INC
$204.92M$0.00-$54.08M-$55.65M-$1.93-100.00%N/AN/AN/A
TLIS
TALIS BIOMEDICAL CORP
$29.80M$5.41M-$106.55M-$114.74M-$3.31-28.48%N/AN/AN/A2023-05-08
BSX
BOSTON SCIENTIFIC CORP
$70.07B$12.68B$2.75B$642.00M$0.456.68%6.99%-34.78%41.26%2023-04-25
INGN
INOGEN INC
$306.64M$377.24M-$59.75M-$83.77M-$3.675.37%8.63%N/AN/A2023-05-03
RMED
RA MEDICAL SYSTEMS INC
$3.65M$19.00k-$26.28M-$26.99M-$91.865.56%N/AN/AN/A2023-05-15
VVOS
VIVOS THERAPEUTICS INC
$7.76M$16.47M-$24.09M-$25.15M-$1.184.25%N/AN/AN/A2023-03-29
INBS
INTELLIGENT BIO SOLUTIONS INC
$2.86M$1.20M-$4.56M-$5.04M-$6.66-34.23%N/AN/AN/A2023-05-09
AFIB
ACUTUS MEDICAL INC
$24.27M$15.76M-$73.60M-$85.99M-$3.101.86%N/AN/AN/A2023-05-10
SIEN
SIENTRA INC
$14.95M$88.13M-$52.52M-$67.39M-$11.0016.08%22.49%N/AN/A2023-03-30
TMDX
TRANSMEDICS GROUP INC
$2.43B$93.46M-$28.24M-$36.23M-$1.23208.83%64.81%N/AN/A2023-05-01
SSKN
STRATA SKIN SCIENCES INC
$32.95M$34.62M$11.00k-$6.24M-$0.1925.25%2.61%N/AN/A2023-03-28
TIVC
TIVIC HEALTH SYSTEMS INC
$1.79M$1.80M-$11.27M-$11.57M-$1.2945.20%N/AN/AN/A2023-04-18
TMCI
TREACE MEDICAL CONCEPTS INC
$1.47B$141.84M-$33.76M-$42.82M-$0.7750.22%N/AN/AN/A2023-05-03
TBIO
TELESIS BIO INC
$65.24M$21.04M-$49.01M-$52.83M-$1.68112.52%N/AN/AN/A2023-05-09
MDXG
MIMEDX GROUP INC
$407.28M$267.84M-$27.51M-$36.78M-$0.333.57%-3.56%N/AN/A2023-05-01
SDC
SMILEDIRECTCLUB INC
$164.99M$470.74M$5.31M-$86.40M-$0.71-26.17%26.39%N/AN/A2023-05-08
LNSR
LENSAR INC
$25.87M$35.36M-$15.99M-$19.91M-$1.962.61%N/AN/AN/A2023-05-08
APEN
APOLLO ENDOSURGERY INC
$413.43M$71.71M-$29.48M-$40.69M-$1.0520.17%2.46%N/AN/A2023-05-01
PETV
PETVIVO HOLDINGS INC
$32.92M$847.02k-$8.06M-$8.17M-$0.831,195.12%252.56%N/AN/A
BBLG
BONE BIOLOGICS CORP
$3.60M$0.00-$2.51M-$2.56M-$0.10N/AN/AN/AN/A
STRR
STAR EQUITY HOLDINGS INC
$13.01M$112.15M$650.00k-$7.17M-$0.365.25%1.40%N/AN/A2023-05-22
AVGR
AVINGER INC
$7.06M$8.27M-$15.76M-$27.24M-$4.36-18.33%-3.59%N/AN/A2023-05-08

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in Mar 2023?

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

1. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the top medical device stock with a Zen Score of 63, which is 33 points higher than the medical device industry average of 30. It passed 20 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock lose -58.31% over the past year, underperforming other medical device stocks by -39 percentage points.

Semler Scientific has an average 1 year price target of $45.00, an upside of 105.39% from Semler Scientific's current stock price of $21.91.

Semler Scientific stock has a consensus Hold recommendation according to Wall Street analysts. Of the 1 analyst covering Semler Scientific, 0% have issued a Strong Buy rating, 0% have issued a Buy, 100% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Sensus Healthcare (NASDAQ:SRTS)


Sensus Healthcare (NASDAQ:SRTS) is the second best medical device stock with a Zen Score of 63, which is 33 points higher than the medical device industry average of 30. It passed 20 out of 33 due diligence checks and has strong fundamentals. Sensus Healthcare has seen its stock lose -52.13% over the past year, underperforming other medical device stocks by -33 percentage points.

Sensus Healthcare has an average 1 year price target of $15.25, an upside of 188.28% from Sensus Healthcare's current stock price of $5.29.

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.

3. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the third best medical device stock with a Zen Score of 57, which is 27 points higher than the medical device industry average of 30. It passed 18 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -20.8% over the past year, underperforming other medical device stocks by -2 percentage points.

Inmode has an average 1 year price target of $46.25, an upside of 46.36% from Inmode's current stock price of $31.60.

Inmode stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Inmode, 75% have issued a Strong Buy rating, 25% 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. Medigus (NASDAQ:MDGS)


Medigus (NASDAQ:MDGS) has an annual dividend yield of 20.39%, which is 17 percentage points higher than the medical device industry average of 3.76%.

Medigus's dividend payout ratio of 0% indicates that its high 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 the same as the medical device industry average of 3.76%. 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 87.5% indicates that its dividend yield is sustainable for the long-term.

3. Iradimed (NASDAQ:IRMD)


Iradimed (NASDAQ:IRMD) has an annual dividend yield of 2.73%, which is -1 percentage points lower than the medical device industry average of 3.76%.

Iradimed's dividend payout ratio of 102.9% indicates that its dividend yield might not be sustainable for the long-term.

Why are medical device stocks up?

Medical device stocks were up 1.97% in the last day, and up 1.54% 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. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the most undervalued medical device stock based on WallStreetZen's Valuation Score. Semler Scientific has a valuation score of 86, which is 61 points higher than the medical device industry average of 25. It passed 6 out of 7 valuation due diligence checks.

Semler Scientific's stock has dropped -58.31% in the past year. It has underperformed other stocks in the medical device industry by -39 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second most undervalued medical device stock based on WallStreetZen's Valuation Score. Inmode has a valuation score of 71, which is 46 points higher than the medical device industry average of 25. It passed 5 out of 7 valuation due diligence checks.

Inmode's stock has dropped -20.8% in the past year. It has underperformed other stocks in the medical device industry by -2 percentage points.

3. Sensus Healthcare (NASDAQ:SRTS)


Sensus Healthcare (NASDAQ:SRTS) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. Sensus Healthcare has a valuation score of 71, which is 46 points higher than the medical device industry average of 25. It passed 5 out of 7 valuation due diligence checks.

Sensus Healthcare's stock has dropped -52.13% in the past year. It has underperformed other stocks in the medical device industry by -33 percentage points.

Are medical device stocks a good buy now?

62.22% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 25.42% 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 103.87x.
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.