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 +28.50% 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:

Delcath Systems (NASDAQ:DCTH) is the #1 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Delcath Systems (NASDAQ:DCTH) is: Value: B, Growth: A, Momentum: A, Sentiment: A, Safety: D, Financials: B, and AI: C.

Delcath Systems (NASDAQ:DCTH) has a Due Diligence Score of 46, which is 15 points higher than the medical device industry average of 31.

DCTH passed 15 out of 33 due diligence checks and has strong fundamentals. Delcath Systems has seen its stock return 138.68% over the past year, overperforming other medical device stocks by 230 percentage points.

Delcath Systems has an average 1 year price target of $30.50, an upside of 48.42% from Delcath Systems's current stock price of $20.55.

Delcath Systems stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Delcath Systems, 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.

Anika Therapeutics (NASDAQ:ANIK) is the #2 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Anika Therapeutics (NASDAQ:ANIK) is: Value: C, Growth: B, Momentum: C, Sentiment: C, Safety: C, Financials: C, and AI: C.

Anika Therapeutics (NASDAQ:ANIK) has a Due Diligence Score of 34, which is 3 points higher than the medical device industry average of 31.

ANIK passed 10 out of 33 due diligence checks and has average fundamentals. Anika Therapeutics has seen its stock return 32.67% over the past year, overperforming other medical device stocks by 124 percentage points.

Anika Therapeutics has an average 1 year price target of $22.00, an upside of 64.18% from Anika Therapeutics's current stock price of $13.40.

Anika Therapeutics stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Anika Therapeutics, 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.

Steris (NYSE:STE) is the #3 top medical device stock out of 132 with a Zen Rating of A. Stocks with a rating of A have had an average return of +28.5% per year. Learn more.

The Component Grade breakdown for Steris (NYSE:STE) is: Value: B, Growth: C, Momentum: C, Sentiment: B, Safety: A, Financials: B, and AI: C.

Steris (NYSE:STE) has a Due Diligence Score of 46, which is 15 points higher than the medical device industry average of 31.

STE passed 17 out of 38 due diligence checks and has strong fundamentals. Steris has seen its stock return 1.49% over the past year, overperforming other medical device stocks by 93 percentage points.

Steris has an average 1 year price target of $283.50, an upside of 7.26% from Steris's current stock price of $264.32.

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

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:

Koninklijke Philips Nv (NYSE:PHG) has an annual dividend yield of 3.34%, which is 2 percentage points higher than the medical device industry average of 1.66%. Koninklijke Philips Nv's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Koninklijke Philips Nv's dividend has shown consistent growth over the last 10 years.

Koninklijke Philips Nv's dividend payout ratio of -109.6% indicates that its dividend yield might not be sustainable for the long-term.

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.5%, which is 1 percentage points higher than the medical device industry average of 1.66%. 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 51.9% indicates that its dividend yield is sustainable for the long-term.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 2.32%, which is 1 percentage points higher than the medical device industry average of 1.66%. 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 93.7% indicates that its dividend yield might not be sustainable for the long-term.

Medical device stocks were up 0.1% in the last day, and up 0.78% over the last week. Pavmed was the among the top gainers in the medical devices industry, gaining 21.73% yesterday.

PAVmed shares are trading higher after the company reported better-than-expected Q3 financial results.

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 -7.2% in the past year. It has overperformed other stocks in the medical device industry by 84 percentage points.

Integra Lifesciences Holdings (NASDAQ:IART) 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.

Integra Lifesciences Holdings 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.

Integra Lifesciences Holdings's stock has gained 19.6% in the past year. It has overperformed other stocks in the medical device industry by 111 percentage points.

Conmed (NYSE:CNMD) 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.

Conmed 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.

Conmed's stock has gained 16.92% in the past year. It has overperformed other stocks in the medical device industry by 109 percentage points.

55.32% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 20.7% over the next year.

5.26% of medical device stocks have a Zen Rating of A (Strong Buy), 22.11% of medical device stocks are rated B (Buy), 52.63% are rated C (Hold), 16.84% are rated D (Sell), and 3.16% are rated F (Strong Sell).