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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
$200.74MN/A0.00%N/AN/AN/AN/A
INMD
INMODE LTD
$1.78BN/A0.00%N/AN/AN/AN/A
TCMD
TACTILE SYSTEMS TECHNOLOGY INC
$374.31MN/A0.00%N/AN/AN/AN/A
MDT
MEDTRONIC PLC
$115.41B3.18%87.30%$0.6900$2.7658%02024-04-12
EW
EDWARDS LIFESCIENCES CORP
$57.19BN/A0.00%N/AN/AN/AN/A
NSYS
NORTECH SYSTEMS INC
$36.20MN/A0.00%N/AN/AN/AN/A
VMD
VIEMED HEALTHCARE INC
$363.54MN/A0.00%N/AN/AN/AN/A
IRMD
IRADIMED CORP
$549.19M1.45%46.30%$0.6300$0.6329%1
ALGN
ALIGN TECHNOLOGY INC
$24.63BN/A0.00%N/AN/AN/AN/A
DXCM
DEXCOM INC
$53.77BN/A0.00%N/AN/AN/AN/A
PODD
INSULET CORP
$11.83BN/A0.00%N/AN/AN/AN/A
BRKR
BRUKER CORP
$12.92B0.21%6.80%$0.0500$0.202%0
ZBH
ZIMMER BIOMET HOLDINGS INC
$27.20B0.72%19.60%$0.2400$0.9613%02024-04-30
GMED
GLOBUS MEDICAL INC
$7.18BN/A0.00%N/AN/AN/AN/A
ABT
ABBOTT LABORATORIES
$196.91B1.83%63.40%$0.5500$2.0838%02024-04-122024-05-15
PEN
PENUMBRA INC
$8.76BN/A0.00%N/AN/AN/AN/A
KIDS
ORTHOPEDIATRICS CORP
$682.23MN/A0.00%N/AN/AN/AN/A
QTRX
QUANTERIX CORP
$872.80MN/A0.00%N/AN/AN/AN/A
STE
STERIS PLC
$22.28B0.90%34.70%$0.5200$2.0317%0
ITGR
INTEGER HOLDINGS CORP
$3.84BN/A0.00%N/AN/AN/AN/A
RPID
RAPID MICRO BIOSYSTEMS INC
$42.07MN/A0.00%N/AN/AN/AN/A
SWAV
SHOCKWAVE MEDICAL INC
$12.06BN/A0.00%N/AN/AN/AN/A
SYK
STRYKER CORP
$136.40B1.07%36.60%$0.8000$3.8521%02024-04-30
BWAY
BRAINSWAY LTD
$86.76MN/A0.00%N/AN/AN/AN/A
LFWD
LIFEWARD LTD
$44.02MN/A0.00%N/AN/AN/AN/A
VREX
VAREX IMAGING CORP
$705.20MN/A0.00%N/AN/AN/AN/A
SNN
SMITH & NEPHEW PLC
$11.56B2.85%124.20%$0.2880$0.7554%102024-04-012024-05-22
ELMD
ELECTROMED INC
$141.21MN/A0.00%N/AN/AN/AN/A
BSX
BOSTON SCIENTIFIC CORP
$100.67BN/A0.00%N/AN/AN/AN/A
SIBN
SI-BONE INC
$649.64MN/A0.00%N/AN/AN/AN/A
NSPR
INSPIREMD INC
$53.53MN/A0.00%N/AN/AN/AN/A
AXNX
AXONICS INC
$3.51BN/A0.00%N/AN/AN/AN/A
AXGN
AXOGEN INC
$335.71MN/A0.00%N/AN/AN/AN/A
INSP
INSPIRE MEDICAL SYSTEMS INC
$6.32BN/A0.00%N/AN/AN/AN/A
CNMD
CONMED CORP
$2.47B1.00%38.10%$0.2000$0.8019%02024-04-05
OM
OUTSET MEDICAL INC
$111.11MN/A0.00%N/AN/AN/AN/A
LUNG
PULMONX CORP
$351.08MN/A0.00%N/AN/AN/AN/A
NURO
NEUROMETRIX INC
$8.26MN/A0.00%N/AN/AN/AN/A
SGHT
SIGHT SCIENCES INC
$256.69MN/A0.00%N/AN/AN/AN/A
TBIO
TELESIS BIO INC
$13.49MN/A0.00%N/AN/AN/AN/A
AEMD
AETHLON MEDICAL INC
$4.48MN/A0.00%N/AN/AN/AN/A
MASI
MASIMO CORP
$7.64BN/A0.00%N/AN/AN/AN/A
RXST
RXSIGHT INC
$1.87BN/A0.00%N/AN/AN/AN/A
LIVN
LIVANOVA PLC
$3.01BN/A0.00%N/AN/AN/AN/A
CVRX
CVRX INC
$376.49MN/A0.00%N/AN/AN/AN/A
RCEL
AVITA MEDICAL INC
$424.16MN/A0.00%N/AN/AN/AN/A
UFPT
UFP TECHNOLOGIES INC
$1.93BN/A0.00%N/AN/AN/AN/A
PRCT
PROCEPT BIOROBOTICS CORP
$2.49BN/A0.00%N/AN/AN/AN/A
TMDX
TRANSMEDICS GROUP INC
$2.42BN/A0.00%N/AN/AN/AN/A
NARI
INARI MEDICAL INC
$2.75BN/A0.00%N/AN/AN/AN/A
HYPR
HYPERFINE INC
$71.95MN/A0.00%N/AN/AN/AN/A
BFLY
BUTTERFLY NETWORK INC
$220.62MN/A0.00%N/AN/AN/AN/A
CTKB
CYTEK BIOSCIENCES INC
$867.36MN/A0.00%N/AN/AN/AN/A
AFIB
ACUTUS MEDICAL INC
$5.80MN/A0.00%N/AN/AN/AN/A
HSDT
HELIUS MEDICAL TECHNOLOGIES INC
$3.97MN/A0.00%N/AN/AN/AN/A
SILK
SILK ROAD MEDICAL INC
$732.96MN/A0.00%N/AN/AN/AN/A
NPCE
NEUROPACE INC
$386.34MN/A0.00%N/AN/AN/AN/A
MASS
908 DEVICES INC
$228.72MN/A0.00%N/AN/AN/AN/A
SRTS
SENSUS HEALTHCARE INC
$64.27MN/A0.00%N/AN/AN/AN/A
PACB
PACIFIC BIOSCIENCES OF CALIFORNIA INC
$996.78MN/A0.00%N/AN/AN/AN/A
CODX
CO-DIAGNOSTICS INC
$34.70MN/A0.00%N/AN/AN/AN/A
IART
INTEGRA LIFESCIENCES HOLDINGS CORP
$2.72BN/A0.00%N/AN/AN/AN/A
NNOX
NANO-X IMAGING LTD
$570.25MN/A0.00%N/AN/AN/AN/A
MXCT
MAXCYTE INC
$449.84MN/A0.00%N/AN/AN/AN/A
NVNO
ENVVENO MEDICAL CORP
$70.31MN/A0.00%N/AN/AN/AN/A
MOTS
MOTUS GI HOLDINGS INC
$2.09MN/A0.00%N/AN/AN/AN/A
IRTC
IRHYTHM TECHNOLOGIES INC
$3.59BN/A0.00%N/AN/AN/AN/A
TELA
TELA BIO INC
$138.28MN/A0.00%N/AN/AN/AN/A
CLPT
CLEARPOINT NEURO INC
$181.28MN/A0.00%N/AN/AN/AN/A
PROF
PROFOUND MEDICAL CORP
$176.95MN/A0.00%N/AN/AN/AN/A
QIPT
QUIPT HOME MEDICAL CORP
$182.72MN/A0.00%N/AN/AN/AN/A
ECOR
ELECTROCORE INC
$35.24MN/A0.00%N/AN/AN/AN/A
NVCR
NOVOCURE LTD
$1.57BN/A0.00%N/AN/AN/AN/A
LNSR
LENSAR INC
$42.85MN/A0.00%N/AN/AN/AN/A
SRDX
SURMODICS INC
$410.00MN/A0.00%N/AN/AN/AN/A
TNDM
TANDEM DIABETES CARE INC
$2.32BN/A0.00%N/AN/AN/AN/A
INGN
INOGEN INC
$185.80MN/A0.00%N/AN/AN/AN/A
MGRM
MONOGRAM ORTHOPAEDICS INC
$73.07MN/A0.00%N/AN/AN/AN/A
FNA
PARAGON 28 INC
$986.59MN/A0.00%N/AN/AN/AN/A
TMCI
TREACE MEDICAL CONCEPTS INC
$763.29MN/A0.00%N/AN/AN/AN/A
ICAD
ICAD INC
$42.16MN/A0.00%N/AN/AN/AN/A
HSCS
HEART TEST LABORATORIES INC
$7.67MN/A0.00%N/AN/AN/AN/A
DCTH
DELCATH SYSTEMS INC
$125.02MN/A0.00%N/AN/AN/AN/A
INBS
INTELLIGENT BIO SOLUTIONS INC
$9.56MN/A0.00%N/AN/AN/AN/A
ATEC
ALPHATEC HOLDINGS INC
$1.90BN/A0.00%N/AN/AN/AN/A
XTNT
XTANT MEDICAL HOLDINGS INC
$144.42MN/A0.00%N/AN/AN/AN/A
ICCM
ICECURE MEDICAL LTD
$54.31MN/A0.00%N/AN/AN/AN/A
CERS
CERUS CORP
$324.50MN/A0.00%N/AN/AN/AN/A
NAOV
NANOVIBRONIX INC
$1.91MN/A0.00%N/AN/AN/AN/A
NMTC
NEUROONE MEDICAL TECHNOLOGIES CORP
$31.25MN/A0.00%N/AN/AN/AN/A
THMO
THERMOGENESIS HOLDINGS INC
$2.20MN/A0.00%N/AN/AN/AN/A
MYO
MYOMO INC
$99.71MN/A0.00%N/AN/AN/AN/A
ZIMV
ZIMVIE INC
$441.74MN/A0.00%N/AN/AN/AN/A
ASXC
ASENSUS SURGICAL INC
$63.64MN/A0.00%N/AN/AN/AN/A
INVO
INVO BIOSCIENCE INC
$2.72MN/A0.00%N/AN/AN/AN/A
TLIS
TALIS BIOMEDICAL CORP
$33.83MN/A0.00%N/AN/AN/AN/A
NXL
NEXALIN TECHNOLOGY INC
$5.80MN/A0.00%N/AN/AN/AN/A
BMRA
BIOMERICA INC
$14.97MN/A0.00%N/AN/AN/AN/A
ANIK
ANIKA THERAPEUTICS INC
$379.27MN/A0.00%N/AN/AN/AN/A
MDGS
MEDIGUS LTD
$4.69MN/A-9.80%$0.8500N/AN/A0

Medical Device Stocks FAQ

What are the best medical device stocks to buy right now in Mar 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 68, which is 41 points higher than the medical device industry average of 27. It passed 21 out of 33 due diligence checks and has strong fundamentals. Semler Scientific has seen its stock return 8.76% over the past year, overperforming other medical device stocks by 14 percentage points.

2. Inmode (NASDAQ:INMD)


Inmode (NASDAQ:INMD) is the second best medical device stock with a Zen Score of 65, which is 38 points higher than the medical device industry average of 27. It passed 20 out of 33 due diligence checks and has strong fundamentals. Inmode has seen its stock lose -30.31% over the past year, underperforming other medical device stocks by -25 percentage points.

Inmode has an average 1 year price target of $26.00, an upside of 22.64% from Inmode's current stock price of $21.20.

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. Tactile Systems Technology (NASDAQ:TCMD)


Tactile Systems Technology (NASDAQ:TCMD) is the third best medical device stock with a Zen Score of 56, which is 29 points higher than the medical device industry average of 27. It passed 18 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock lose -5.03% over the past year, overperforming other medical device stocks by 1 percentage points.

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 3.18%, which is 2 percentage points higher than the medical device industry average of 1.47%. 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 87.3% 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 2.85%, which is 1 percentage points higher than the medical device industry average of 1.47%. 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 124.2% 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 1.83%, which is the same as the medical device industry average of 1.47%. 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 up?

Medical device stocks were up 2.48% in the last day, and up 2.79% over the last week. Iridex was the among the top gainers in the medical devices industry, gaining 17.53% yesterday.

IRIDEX shares are trading higher. The company reported Q4 financial results.

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 100, which is 85 points higher than the medical device industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Semler Scientific's stock has gained 8.76% in the past year. It has overperformed other stocks in the medical device industry by 14 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 100, which is 85 points higher than the medical device industry average of 15. It passed 7 out of 7 valuation due diligence checks.

Inmode's stock has dropped -30.31% in the past year. It has underperformed other stocks in the medical device industry by -25 percentage points.

3. Tactile Systems Technology (NASDAQ:TCMD)


Tactile Systems Technology (NASDAQ:TCMD) is the third most undervalued medical device stock based on WallStreetZen's Valuation Score. 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 -5.03% in the past year. It has overperformed other stocks in the medical device industry by 1 percentage points.

Are medical device stocks a good buy now?

46.46% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 11.83% 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 30.11x.
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.