Sectors & Industries HealthcareMedical Instruments & Supplies
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...

Price Valuation Financials Forecast Earnings & Revenue Dividends Ownership Technicals

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	50	71	100	0	20	60
STAA	STAAR SURGICAL CO	49	14	86	67	30	–
LMAT	LEMAITRE VASCULAR INC	47	14	100	11	50	60
ISRG	INTUITIVE SURGICAL INC	46	0	100	22	60	–
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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 26 points higher than the medical industry average of 28. It passed 20 out of 38 due diligence checks and has strong fundamentals. West Pharmaceutical Services has seen its stock return 0.41% over the past year, overperforming other medical stocks by 9 percentage points.

West Pharmaceutical Services has an average 1 year price target of $460.33, an upside of 26.4% from West Pharmaceutical Services's current stock price of $364.19.

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. Utah Medical Products (NASDAQ:UTMD)

Utah Medical Products (NASDAQ:UTMD) is the second best medical stock with a Zen Score of 50, which is 22 points higher than the medical industry average of 28. It passed 17 out of 38 due diligence checks and has strong fundamentals. Utah Medical Products has seen its stock lose -28.06% over the past year, underperforming other medical stocks by -19 percentage points.

3. Staar Surgical Co (NASDAQ:STAA)

Staar Surgical Co (NASDAQ:STAA) is the third best medical stock with a Zen Score of 49, which is 21 points higher than the medical industry average of 28. It passed 16 out of 33 due diligence checks and has strong fundamentals. Staar Surgical Co has seen its stock lose -37.37% over the past year, underperforming other medical stocks by -29 percentage points.

Staar Surgical Co has an average 1 year price target of $44.60, an upside of 5.31% from Staar Surgical Co's current stock price of $42.35.

Staar Surgical Co stock has a consensus Buy recommendation according to Wall Street analysts. Of the 5 analysts covering Staar Surgical Co, 40% have issued a Strong Buy rating, 0% have issued a Buy, 60% 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 3.25%, which is 2 percentage points higher than the medical industry average of 1.28%. 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. Dentsply Sirona (NASDAQ:XRAY)

Dentsply Sirona (NASDAQ:XRAY) has an annual dividend yield of 2.08%, which is 1 percentage points higher than the medical industry average of 1.28%. 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.

3. Atrion (NASDAQ:ATRI)

Atrion (NASDAQ:ATRI) has an annual dividend yield of 1.96%, which is 1 percentage points higher than the medical industry average of 1.28%. 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 82.3% indicates that its dividend yield is sustainable for the long-term.

Why are medical stocks up?

Medical stocks were up 0.54% in the last day, and up 1.52% over the last week.

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

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 53 points higher than the medical industry average of 18. It passed 5 out of 7 valuation due diligence checks.

Utah Medical Products's stock has dropped -28.06% in the past year. It has underperformed other stocks in the medical industry by -19 percentage points.

2. Embecta (NASDAQ:EMBC)

Embecta (NASDAQ:EMBC) is the second most undervalued medical stock based on WallStreetZen's Valuation Score. Embecta has a valuation score of 57, which is 39 points higher than the medical industry average of 18. It passed 4 out of 7 valuation due diligence checks.

Embecta's stock has dropped -51.86% in the past year. It has underperformed other stocks in the medical industry by -43 percentage points.

3. Hologic (NASDAQ:HOLX)

Hologic (NASDAQ:HOLX) is the third most undervalued medical stock based on WallStreetZen's Valuation Score. Hologic has a valuation score of 57, which is 39 points higher than the medical industry average of 18. It passed 4 out of 7 valuation due diligence checks.

Hologic's stock has dropped -8.44% in the past year. It has performed in line with other stocks in the medical industry.

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 19.62% 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 58.36x.

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.