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:

Bioventus (NASDAQ:BVS) is the #1 top medical device stock out of 135 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 Bioventus (NASDAQ:BVS) is: Value: B, Growth: A, Momentum: C, Sentiment: A, Safety: B, Financials: B, and AI: C.

Bioventus (NASDAQ:BVS) has a Due Diligence Score of 44, which is 15 points higher than the medical device industry average of 29.

BVS passed 14 out of 33 due diligence checks and has strong fundamentals. Bioventus has seen its stock return 85.82% over the past year, overperforming other medical device stocks by 185 percentage points.

Bioventus has an average 1 year price target of $15.00, an upside of 24.38% from Bioventus's current stock price of $12.06.

Bioventus stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Bioventus, 33.33% have issued a Strong Buy rating, 66.67% 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 135 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 Electromed (NYSEMKT:ELMD) is: Value: C, Growth: C, Momentum: B, Sentiment: A, Safety: B, Financials: A, and AI: C.

Electromed (NYSEMKT:ELMD) has a Due Diligence Score of 47, which is 18 points higher than the medical device industry average of 29.

ELMD passed 16 out of 33 due diligence checks and has strong fundamentals. Electromed has seen its stock return 125.74% over the past year, overperforming other medical device stocks by 225 percentage points.

Electromed has an average 1 year price target of $38.00, a downside of -9.74% from Electromed's current stock price of $42.10.

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.

Smith & Nephew (NYSE:SNN) is the #3 top medical device stock out of 135 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 Smith & Nephew (NYSE:SNN) is: Value: B, Growth: C, Momentum: C, Sentiment: B, Safety: B, Financials: B, and AI: C.

Smith & Nephew (NYSE:SNN) has a Due Diligence Score of 41, which is 12 points higher than the medical device industry average of 29.

SNN passed 14 out of 38 due diligence checks and has strong fundamentals. Smith & Nephew has seen its stock return 2.38% over the past year, overperforming other medical device stocks by 102 percentage points.

Smith & Nephew has an average 1 year price target of $30.00, a downside of -1.93% from Smith & Nephew's current stock price of $30.59.

Smith & Nephew stock has a consensus Hold recommendation according to Wall Street analysts. Of the 1 analyst covering Smith & Nephew, 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.

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 3.76%, 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.

Smith & Nephew (NYSE:SNN) has an annual dividend yield of 2.52%, 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.

Abbott Laboratories (NYSE:ABT) has an annual dividend yield of 2.46%, 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.

Medical device stocks were down -1.53% in the last day, and down -0.56% over the last week. Globus Medical was the among the top losers in the medical devices industry, dropping -4.83% yesterday.

Shares of medical device companies are trading lower amid sympathy with Intuitive Surgical after the company reported Q2 financial results and noted that the China market remains a challenge. Also, multiple analysts lowered their respective price targets on ISRG.

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 57, which is 45 points higher than the medical device industry average of 12. It passed 4 out of 7 valuation due diligence checks.

Inmode's stock has gained 9.72% in the past year. It has overperformed other stocks in the medical device industry by 109 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 43, which is 31 points higher than the medical device industry average of 12. It passed 3 out of 7 valuation due diligence checks.

Conmed's stock has dropped -12.28% in the past year. It has overperformed other stocks in the medical device industry by 87 percentage points.

Sanuwave Health (NASDAQ:SNWV) 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.

Sanuwave Health has a valuation score of 29, which is 17 points higher than the medical device industry average of 12. It passed 2 out of 7 valuation due diligence checks.

Sanuwave Health's stock has dropped -82.92% in the past year. It has overperformed other stocks in the medical device industry by 17 percentage points.

60.61% of medical device stocks rated by analysts are a strong buy right now. On average, analysts expect medical device stocks to rise by 31.54% over the next year.

8.51% of medical device stocks have a Zen Rating of A (Strong Buy), 18.09% of medical device stocks are rated B (Buy), 54.26% are rated C (Hold), 17.02% are rated D (Sell), and 2.13% are rated F (Strong Sell).