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Best Medical Stocks to Buy Now (2024)
Top medical stocks in 2024 ranked by overall Zen Score. See the best medical stocks to buy now, according to analyst forecasts for the medical instruments & supplies industry.

Industry: Medical Instruments & Sup...
OverviewZen Score
PriceValuationFinancialsForecastEarnings & RevenueDividendsOwnershipTechnicals
Ticker
Company
Zen Score
Valuation Score
Financials Score
Forecast Score
Performance Score
Dividends Score
WST
WEST PHARMACEUTICAL SERVICES INC
54
14
100
33
60
60
UTMD
UTAH MEDICAL PRODUCTS INC
52
71
100
0
30
60
OSUR
ORASURE TECHNOLOGIES INC
52
71
86
0
50
–
LMAT
LEMAITRE VASCULAR INC
52
14
100
33
50
60
STAA
STAAR SURGICAL CO
49
14
86
67
30
–

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Use Zen Score to quickly analyze stock fundamentals, even if you don't have a finance background. We run time-tested due diligence checks inspired by legendary investors like Warren Buffett, and score each company based on how many they pass/fail.

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Medical Stocks FAQ

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

According to Zen Score, the 3 best medical stocks to buy right now are:

1. West Pharmaceutical Services (NYSE:WST)


West Pharmaceutical Services (NYSE:WST) is the top medical stock with a Zen Score of 54, which is 25 points higher than the medical industry average of 29. It passed 20 out of 38 due diligence checks and has strong fundamentals. West Pharmaceutical Services has seen its stock return 0.35% over the past year, overperforming other medical stocks by 10 percentage points.

West Pharmaceutical Services has an average 1 year price target of $460.33, an upside of 24.97% from West Pharmaceutical Services's current stock price of $368.35.

West Pharmaceutical Services stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering West Pharmaceutical Services, 66.67% have issued a Strong Buy rating, 0% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

2. Orasure Technologies (NASDAQ:OSUR)


Orasure Technologies (NASDAQ:OSUR) is the second best medical stock with a Zen Score of 52, which is 23 points higher than the medical industry average of 29. It passed 16 out of 33 due diligence checks and has strong fundamentals. Orasure Technologies has seen its stock lose -20.74% over the past year, underperforming other medical stocks by -11 percentage points.

Orasure Technologies has an average 1 year price target of $6.83, an upside of 23.34% from Orasure Technologies's current stock price of $5.54.

Orasure Technologies stock has a consensus Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Orasure Technologies, 33.33% have issued a Strong Buy rating, 0% have issued a Buy, 66.67% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

3. Lemaitre Vascular (NASDAQ:LMAT)


Lemaitre Vascular (NASDAQ:LMAT) is the third best medical stock with a Zen Score of 52, which is 23 points higher than the medical industry average of 29. It passed 19 out of 38 due diligence checks and has strong fundamentals. Lemaitre Vascular has seen its stock return 13.95% over the past year, overperforming other medical stocks by 24 percentage points.

Lemaitre Vascular has an average 1 year price target of $77.00, an upside of 1.45% from Lemaitre Vascular's current stock price of $75.90.

Lemaitre Vascular stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 3 analysts covering Lemaitre Vascular, 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.

What are the medical stocks with highest dividends?

Out of 11 medical stocks that have issued dividends in the past year, the 3 medical stocks with the highest dividend yields are:

1. Baxter International (NYSE:BAX)


Baxter International (NYSE:BAX) has an annual dividend yield of 3.21%, which is 2 percentage points higher than the medical industry average of 1.31%. Baxter International's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Baxter International's dividend has not shown consistent growth over the last 10 years.

Baxter International's dividend payout ratio of 22.2% indicates that its dividend yield is sustainable for the long-term.

2. Atrion (NASDAQ:ATRI)


Atrion (NASDAQ:ATRI) has an annual dividend yield of 2.1%, which is 1 percentage points higher than the medical industry average of 1.31%. Atrion's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Atrion's dividend has shown consistent growth over the last 10 years.

Atrion's dividend payout ratio of 78.9% indicates that its dividend yield is sustainable for the long-term.

3. Dentsply Sirona (NASDAQ:XRAY)


Dentsply Sirona (NASDAQ:XRAY) has an annual dividend yield of 2.05%, which is 1 percentage points higher than the medical industry average of 1.31%. Dentsply Sirona's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Dentsply Sirona's dividend has shown consistent growth over the last 10 years.

Dentsply Sirona's dividend payout ratio of -134.9% indicates that its dividend yield might not be sustainable for the long-term.

Why are medical stocks down?

Medical stocks were down -0.09% in the last day, and up 2% over the last week.

We couldn't find a catalyst for why medical stocks are down.

What are the most undervalued medical stocks?

Based on WallStreetZen's Valuation Score, the 3 most undervalued medical stocks right now are:

1. Utah Medical Products (NASDAQ:UTMD)


Utah Medical Products (NASDAQ:UTMD) is the most undervalued medical stock based on WallStreetZen's Valuation Score. Utah Medical Products has a valuation score of 71, which is 52 points higher than the medical industry average of 19. It passed 5 out of 7 valuation due diligence checks.

Utah Medical Products's stock has dropped -25.78% in the past year. It has underperformed other stocks in the medical industry by -16 percentage points.

2. Orasure Technologies (NASDAQ:OSUR)


Orasure Technologies (NASDAQ:OSUR) is the second most undervalued medical stock based on WallStreetZen's Valuation Score. Orasure Technologies has a valuation score of 71, which is 52 points higher than the medical industry average of 19. It passed 5 out of 7 valuation due diligence checks.

Orasure Technologies's stock has dropped -20.74% in the past year. It has underperformed other stocks in the medical industry by -11 percentage points.

3. Teleflex (NYSE:TFX)


Teleflex (NYSE:TFX) is the third most undervalued medical stock based on WallStreetZen's Valuation Score. Teleflex has a valuation score of 57, which is 38 points higher than the medical industry average of 19. It passed 4 out of 7 valuation due diligence checks.

Teleflex's stock has dropped -22.25% in the past year. It has underperformed other stocks in the medical industry by -12 percentage points.

Are medical stocks a good buy now?

45% of medical stocks rated by analysts are a strong buy right now. On average, analysts expect medical stocks to rise by 18.56% over the next year.

What is the average p/e ratio of the medical instruments & supplies industry?

The average P/E ratio of the medical instruments & supplies industry is 57.86x.
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