WallStreetZenWallStreetZen

Sectors & IndustriesHealthcareMedical Devices
Best Medical Device Stocks to Buy Now (2024)
Top medical device stocks in 2024 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
Dividends Score
Market Cap
Dividend Yield
Payout Ratio
Last Dividend
Annual Dividend
Dividend Percentile
Dividend Dropped Count (L10Y)
Ex-dividend Date
Div. Payment Date
SMLR
SEMLER SCIENTIFIC INC
$325.38MN/A0.00%N/AN/AN/AN/A
INMD
INMODE LTD
$1.79BN/A0.00%N/AN/AN/AN/A
BRKR
BRUKER CORP
$11.72B0.24%9.20%$0.0500$0.202%02024-02-292024-03-15
TCMD
TACTILE SYSTEMS TECHNOLOGY INC
$373.83MN/A0.00%N/AN/AN/AN/A
MDT
MEDTRONIC PLC
$113.91B3.21%89.00%$0.6900$2.7557%0
EW
EDWARDS LIFESCIENCES CORP
$52.73BN/A0.00%N/AN/AN/AN/A
DXCM
DEXCOM INC
$44.82BN/A0.00%N/AN/AN/AN/A
PODD
INSULET CORP
$12.88BN/A0.00%N/AN/AN/AN/A
SWAV
SHOCKWAVE MEDICAL INC
$9.62BN/A0.00%N/AN/AN/AN/A
GMED
GLOBUS MEDICAL INC
$7.62BN/A0.00%N/AN/AN/AN/A
ALGN
ALIGN TECHNOLOGY INC
$24.27BN/A0.00%N/AN/AN/AN/A
ZBH
ZIMMER BIOMET HOLDINGS INC
$26.49B0.74%19.60%$0.2400$0.9613%02024-03-272024-04-30
IRMD
IRADIMED CORP
$534.35M1.49%81.40%$0.6300$0.6329%1
KIDS
ORTHOPEDIATRICS CORP
$660.90MN/A0.00%N/AN/AN/AN/A
ABT
ABBOTT LABORATORIES
$207.29B1.74%63.40%$0.5500$2.0835%02024-04-122024-05-15
MASI
MASIMO CORP
$6.99BN/A0.00%N/AN/AN/AN/A
PEN
PENUMBRA INC
$9.23BN/A0.00%N/AN/AN/AN/A
QTRX
QUANTERIX CORP
$940.83MN/A0.00%N/AN/AN/AN/A
ELMD
ELECTROMED INC
$128.91MN/A0.00%N/AN/AN/AN/A
AXNX
AXONICS INC
$3.46BN/A0.00%N/AN/AN/AN/A
VREX
VAREX IMAGING CORP
$688.40MN/A0.00%N/AN/AN/AN/A
SIBN
SI-BONE INC
$820.96MN/A0.00%N/AN/AN/AN/A
VMD
VIEMED HEALTHCARE INC
$330.62MN/A0.00%N/AN/AN/AN/A
STE
STERIS PLC
$23.31B0.86%34.70%$0.5200$2.0315%02024-03-22
BSX
BOSTON SCIENTIFIC CORP
$98.30BN/A0.00%N/AN/AN/AN/A
SYK
STRYKER CORP
$135.01B0.86%36.60%$0.8000$3.0515%02024-03-272024-04-30
ITGR
INTEGER HOLDINGS CORP
$3.41BN/A0.00%N/AN/AN/AN/A
INSP
INSPIRE MEDICAL SYSTEMS INC
$5.47BN/A0.00%N/AN/AN/AN/A
RPID
RAPID MICRO BIOSYSTEMS INC
$42.40MN/A0.00%N/AN/AN/AN/A
NARI
INARI MEDICAL INC
$3.29BN/A0.00%N/AN/AN/AN/A
HYPR
HYPERFINE INC
$73.75MN/A0.00%N/AN/AN/AN/A
CNMD
CONMED CORP
$2.48B0.99%41.20%$0.2000$0.8018%0
TMDX
TRANSMEDICS GROUP INC
$2.71BN/A0.00%N/AN/AN/AN/A
NSPR
INSPIREMD INC
$56.68MN/A0.00%N/AN/AN/AN/A
LUNG
PULMONX CORP
$414.11MN/A0.00%N/AN/AN/AN/A
LFWD
LIFEWARD LTD
$52.94MN/A0.00%N/AN/AN/AN/A
BWAY
BRAINSWAY LTD
$99.66MN/A0.00%N/AN/AN/AN/A
UFPT
UFP TECHNOLOGIES INC
$1.61BN/A0.00%N/AN/AN/AN/A
NURO
NEUROMETRIX INC
$3.34MN/A0.00%N/AN/AN/AN/A
CVRX
CVRX INC
$464.80MN/A0.00%N/AN/AN/AN/A
PRCT
PROCEPT BIOROBOTICS CORP
$2.47BN/A0.00%N/AN/AN/AN/A
RXST
RXSIGHT INC
$1.96BN/A0.00%N/AN/AN/AN/A
AXGN
AXOGEN INC
$446.36MN/A0.00%N/AN/AN/AN/A
LIVN
LIVANOVA PLC
$3.08BN/A0.00%N/AN/AN/AN/A
TBIO
TELESIS BIO INC
$23.39MN/A0.00%N/AN/AN/AN/A
AEMD
AETHLON MEDICAL INC
$4.45MN/A0.00%N/AN/AN/AN/A
NSYS
NORTECH SYSTEMS INC
$31.85MN/A0.00%N/AN/AN/AN/A
RCEL
AVITA MEDICAL INC
$439.58MN/A0.00%N/AN/AN/AN/A
PACB
PACIFIC BIOSCIENCES OF CALIFORNIA INC
$1.37BN/A0.00%N/AN/AN/AN/A
OM
OUTSET MEDICAL INC
$187.88MN/A0.00%N/AN/AN/AN/A
CTKB
CYTEK BIOSCIENCES INC
$1.18BN/A0.00%N/AN/AN/AN/A
AFIB
ACUTUS MEDICAL INC
$6.42MN/A0.00%N/AN/AN/AN/A
ANIK
ANIKA THERAPEUTICS INC
$379.05MN/A0.00%N/AN/AN/AN/A
APYX
APYX MEDICAL CORP
$69.63MN/A0.00%N/AN/AN/AN/A
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
$4.07MN/A0.00%N/AN/AN/AN/A
CODX
CO-DIAGNOSTICS INC
$34.56MN/A0.00%N/AN/AN/AN/A
TMCI
TREACE MEDICAL CONCEPTS INC
$878.88MN/A0.00%N/AN/AN/AN/A
ECOR
ELECTROCORE INC
$41.30MN/A0.00%N/AN/AN/AN/A
NPCE
NEUROPACE INC
$447.35MN/A0.00%N/AN/AN/AN/A
MASS
908 DEVICES INC
$227.63MN/A0.00%N/AN/AN/AN/A
NNOX
NANO-X IMAGING LTD
$497.52MN/A0.00%N/AN/AN/AN/A
SNN
SMITH & NEPHEW PLC
$12.67B2.60%150.00%$0.2880$0.7549%10
SGHT
SIGHT SCIENCES INC
$215.96MN/A0.00%N/AN/AN/AN/A
SRTS
SENSUS HEALTHCARE INC
$79.62MN/A0.00%N/AN/AN/AN/A
CLPT
CLEARPOINT NEURO INC
$178.99MN/A0.00%N/AN/AN/AN/A
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
$3.50BN/A0.00%N/AN/AN/AN/A
QIPT
QUIPT HOME MEDICAL CORP
$186.93MN/A0.00%N/AN/AN/AN/A
SILK
SILK ROAD MEDICAL INC
$662.07MN/A0.00%N/AN/AN/AN/A
IRTC
IRHYTHM TECHNOLOGIES INC
$3.25BN/A0.00%N/AN/AN/AN/A
SRDX
SURMODICS INC
$466.80MN/A0.00%N/AN/AN/AN/A
DCTH
DELCATH SYSTEMS INC
$95.24MN/A0.00%N/AN/AN/AN/A
CERS
CERUS CORP
$400.45MN/A0.00%N/AN/AN/AN/A
INGN
INOGEN INC
$214.20MN/A0.00%N/AN/AN/AN/A
LNSR
LENSAR INC
$52.76MN/A0.00%N/AN/AN/AN/A
BFLY
BUTTERFLY NETWORK INC
$211.27MN/A0.00%N/AN/AN/AN/A
TELA
TELA BIO INC
$173.14MN/A0.00%N/AN/AN/AN/A
MOTS
MOTUS GI HOLDINGS INC
$474.96kN/A0.00%N/AN/AN/AN/A
NVNO
ENVVENO MEDICAL CORP
$77.90MN/A0.00%N/AN/AN/AN/A
ICAD
ICAD INC
$37.16MN/A0.00%N/AN/AN/AN/A
XTNT
XTANT MEDICAL HOLDINGS INC
$135.31MN/A0.00%N/AN/AN/AN/A
PROF
PROFOUND MEDICAL CORP
$175.20MN/A0.00%N/AN/AN/AN/A
INBS
INTELLIGENT BIO SOLUTIONS INC
$9.15MN/A0.00%N/AN/AN/AN/A
NVCR
NOVOCURE LTD
$1.63BN/A0.00%N/AN/AN/AN/A
NUWE
NUWELLIS INC
$1.99MN/A0.00%N/AN/AN/AN/A
SENS
SENSEONICS HOLDINGS INC
$385.65MN/A0.00%N/AN/AN/AN/A
MYO
MYOMO INC
$75.84MN/A0.00%N/AN/AN/AN/A
INVO
INVO BIOSCIENCE INC
$2.50MN/A0.00%N/AN/AN/AN/A
OFIX
ORTHOFIX MEDICAL INC
$501.73MN/A0.00%N/AN/AN/AN/A
THMO
THERMOGENESIS HOLDINGS INC
$3.29MN/A0.00%N/AN/AN/AN/A
TNDM
TANDEM DIABETES CARE INC
$1.91BN/A0.00%N/AN/AN/AN/A
NMTC
NEUROONE MEDICAL TECHNOLOGIES CORP
$27.75MN/A0.00%N/AN/AN/AN/A
SINT
SINTX TECHNOLOGIES INC
$600.63kN/A0.00%N/AN/AN/AN/A
ASXC
ASENSUS SURGICAL INC
$80.62MN/A0.00%N/AN/AN/AN/A
NAOV
NANOVIBRONIX INC
$2.05MN/A0.00%N/AN/AN/AN/A
BMRA
BIOMERICA INC
$21.70MN/A0.00%N/AN/AN/AN/A
NXL
NEXALIN TECHNOLOGY INC
$2.32MN/A0.00%N/AN/AN/AN/A
RBOT
VICARIOUS SURGICAL INC
$61.21MN/A0.00%N/AN/AN/AN/A
MXCT
MAXCYTE INC
$475.42MN/A0.00%N/AN/AN/AN/A
TLIS
TALIS BIOMEDICAL CORP
$32.48MN/A0.00%N/AN/AN/AN/A
MDGS
MEDIGUS LTD
$4.76MN/A-9.80%$0.8500N/AN/A0

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in Feb 2024?

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 60, which is 34 points higher than the medical device industry average of 26. It passed 19 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock return 112% over the past year, overperforming other medical device stocks by 122 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second best medical device stock with a Zen Score of 58, which is 32 points higher than the medical device industry average of 26. It passed 18 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -40.64% over the past year, underperforming other medical device stocks by -30 percentage points.

Inmode has an average 1 year price target of $26.00, an upside of 21.78% from Inmode's current stock price of $21.35.

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

3. Bruker (NASDAQ:BRKR)


Bruker (NASDAQ:BRKR) is the third best medical device stock with a Zen Score of 54, which is 28 points higher than the medical device industry average of 26. It passed 21 out of 38 due diligence checks and has strong fundamentals. Bruker has seen its stock return 17.71% over the past year, overperforming other medical device stocks by 28 percentage points.

Bruker has an average 1 year price target of $86.40, an upside of 2.04% from Bruker's current stock price of $84.67.

Bruker stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Bruker, 60% have issued a Strong Buy rating, 0% have issued a Buy, 40% 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. Medtronic (NYSE:MDT)


Medtronic (NYSE:MDT) has an annual dividend yield of 3.21%, which is 2 percentage points higher than the medical device industry average of 1.41%. 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 89% indicates that its dividend yield is sustainable for the long-term.

2. Smith & Nephew (NYSE:SNN)


Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.6%, which is 1 percentage points higher than the medical device industry average of 1.41%. 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 150% indicates that its dividend yield might not be sustainable for the long-term.

3. Abbott Laboratories (NYSE:ABT)


Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 1.74%, which is the same as the medical device industry average of 1.41%. 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 63.4% indicates that its dividend yield is sustainable for the long-term.

Why are medical device stocks down?

Medical device stocks were down -0.96% in the last day, and down -0.49% over the last week. Venus Concept was the among the top losers in the medical devices industry, dropping -30.11% yesterday.

Venus Concept shares are trading lower after the company announced a $1.2 million registered direct offering at $1.465 per share.

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. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the most undervalued medical device stock based on WallStreetZen's Valuation Score. 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 -40.64% in the past year. It has underperformed other stocks in the medical device industry by -30 percentage points.

2. Tactile Systems Technology (NASDAQ:TCMD)


Tactile Systems Technology (NASDAQ:TCMD) is the second most undervalued medical device stock based on WallStreetZen's Valuation Score. Tactile Systems Technology 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.

Tactile Systems Technology's stock has gained 10.61% in the past year. It has overperformed other stocks in the medical device industry by 21 percentage points.

3. Semler Scientific (NASDAQ:SMLR)


Semler Scientific (NASDAQ:SMLR) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. Semler Scientific 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.

Semler Scientific's stock has gained 112% in the past year. It has overperformed other stocks in the medical device industry by 122 percentage points.

Are medical device stocks a good buy now?

45.45% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 15.21% 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 33.74x.
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.