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 +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 139 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: A, Growth: A, Momentum: C, Sentiment: A, Safety: B, Financials: B, and AI: C.

Bioventus (NASDAQ:BVS) has a Due Diligence Score of 51, which is 21 points higher than the medical device industry average of 30.

BVS passed 16 out of 33 due diligence checks and has strong fundamentals. Bioventus has seen its stock return 33.23% over the past year, overperforming other medical device stocks by 106 percentage points.

Bioventus has an average 1 year price target of $15.00, an upside of 72.41% from Bioventus's current stock price of $8.70.

Bioventus stock has a consensus Buy recommendation according to Wall Street analysts. Of the 2 analysts covering Bioventus, 0% have issued a Strong Buy rating, 100% have issued a Buy, 0% 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 139 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: A, Safety: B, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 44, which is 14 points higher than the medical device industry average of 30.

ELMD passed 15 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock return 82.23% over the past year, overperforming other medical device stocks by 155 percentage points.

Electromed has an average 1 year price target of $38.00, an upside of 3.49% from Electromed's current stock price of $36.72.

Electromed stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 2 analysts 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.

Tactile Systems Technology (NASDAQ:TCMD) is the #3 top medical device stock out of 139 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 Tactile Systems Technology (NASDAQ:TCMD) is: Value: B, Growth: C, Momentum: C, Sentiment: B, Safety: B, Financials: B, and AI: C.

Tactile Systems Technology (NASDAQ:TCMD) has a Due Diligence Score of 61, which is 31 points higher than the medical device industry average of 30.

TCMD passed 20 out of 33 due diligence checks and has strong fundamentals. Tactile Systems Technology has seen its stock return 148.22% over the past year, overperforming other medical device stocks by 221 percentage points.

Tactile Systems Technology has an average 1 year price target of $39.33, an upside of 56.27% from Tactile Systems Technology's current stock price of $25.17.

Tactile Systems Technology stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Tactile Systems Technology, 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 3.9%, which is 2 percentage points higher than the medical device industry average of 1.56%. 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.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 2.69%, which is 1 percentage points higher than the medical device industry average of 1.56%. 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 68% indicates that its dividend yield is 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 1.56%. Smith & Nephew's dividend payout is not stable, having dropped more than 10% nine times in the last 10 years. Smith & Nephew's dividend has shown consistent growth over the last 10 years.

Smith & Nephew's dividend payout ratio of 52.8% indicates that its dividend yield is sustainable for the long-term.

Medical device stocks were up 2.48% in the last day, and up 0.18% over the last week. Medtronic was the among the top gainers in the medical devices industry, gaining 5.11% yesterday.

Medtronic shares are trading higher after BTIG upgraded its rating on the stock from Neutral to Buy and announced a $90 price target. Also, RBC Capital maintained its Outperform rating on the stock and reiterated its $118 price target.

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 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 -7.54% in the past year. It has overperformed other stocks in the medical device industry by 65 percentage points.

Conmed (NYSE:CNMD) 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.

Conmed 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.

Conmed's stock has dropped -37.9% in the past year. It has overperformed other stocks in the medical device industry by 35 percentage points.

Bioventus (NASDAQ:BVS) 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.

Bioventus 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.

Bioventus's stock has gained 33.23% in the past year. It has overperformed other stocks in the medical device industry by 106 percentage points.

64.36% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 32.22% over the next year.

9.38% of medical device stocks have a Zen Rating of A (Strong Buy), 13.54% of medical device stocks are rated B (Buy), 54.17% are rated C (Hold), 19.79% are rated D (Sell), and 3.13% are rated F (Strong Sell).