In this article, we will look at the 10 Best Medical Device Stocks to Invest In Right Now.
On April 27, Tom Lee, Fundstrat Capital Chief Investment Officer and Bitmine Immersion Technologies Chairman, appeared on CNBC’s ‘Power Lunch’ to discuss the outlook for equity markets. He was of the view that the market at the start of this year had three risks that it had to get comfortable with, with the first being Iran and a potential escalation of the war, the second being private credit, and the third being a new Fed chair. We have seen that we have come out of the other side of the Iran war with the economy showing remarkable strength, with earnings estimates going up.
READ ALSO: 8 Best Low Volatility Stocks to Invest In Right Now AND 10 Cheap Stocks to Buy Under $20.
The underwriting for the private credit looks better than expected, which is why IGV, the software ETF, is rebounding: it fell all the way down to 72 and is back to 85. A lot of private credit loans were tied to software, and according to him, that is less of a structural problem. Lee further believes that for stocks, the upside case is strengthening for the year, with the S&P above 7,700 being very probable.
With these broader market trends in view, let’s narrow down and look at the best medical device stocks to invest in right now.
Our Methodology
We used the Finviz stock screener to make a list of the best medical device stocks and picked the top 10 with the highest number of hedge fund holders, as of Q4 2025. We sourced the hedge fund sentiment data from Insider Monkey’s database.
Note: All data was recorded on April 28.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10 Best Medical Device Stocks to Invest In Right Now
10. Smith & Nephew plc (NYSE:SNN)
Smith & Nephew plc (NYSE:SNN) is one of the best medical device stocks to invest in right now. Canaccord cut the price target on Smith & Nephew plc (NYSE:SNN) to $32 from $35 on April 24 and reaffirmed a Hold rating on the shares. The firm updated its model ahead of the fiscal Q1 results.
In a separate development, Smith & Nephew plc (NYSE:SNN) announced on April 21 compelling evidence from a multicenter, randomized controlled trial highlighting the clinical superiority of its CARTIHEAL AGILI-C Cartilage Repair Implant. Recently published in the American Journal of Sports Medicine, the CARTIHEAL AGILI-C Cartilage Repair Implant resulted in higher overall Knee injury and Osteoarthritis Outcome Scores compared to surgical standard of care for all time points out to 60 months.
Smith & Nephew plc (NYSE:SNN) reported that patients treated with the CARTIHEAL AGILI-C Implant reported considerably better knee pain relief, along with improvements in quality of life over a 5-year period. In addition, patients “treated with the CARTIHEAL Implant reported superior improvements in performing activities related to daily living, sport, and recreation at 2, 4, and 5-years”.
Smith & Nephew plc (NYSE:SNN) develops, manufactures, markets, and sells medical devices. Its operations are divided into the following segments: Orthopaedics, Sports Medicine and ENT, and Advanced Wound Management.
9. iRhythm Technologies, Inc. (NASDAQ:IRTC)
iRhythm Technologies, Inc. (NASDAQ:IRTC) is one of the best medical device stocks to invest in right now. Truist cut the price target on iRhythm Technologies, Inc. (NASDAQ:IRTC) to $170 from $200 on April 15, reaffirming a Buy rating on the shares. The rating update came as part of a broader research note previewing fiscal Q1 results in MedTech, with the firm telling investors in the research note that it anticipates fiscal Q1 performances to be in line or better than what feels like an anxious investor sentiment around Q1 volumes. It further stated that the stock should trade at least in line with, if not higher than, its peer group average, given the upward bias to consensus revenue growth forecasts into the out- years as well as the company’s re-accelerating revenue growth potential in 2027, which could materialize upon MCT, Mobile Cardiac Telemetry service, approval.
iRhythm Technologies, Inc. (NASDAQ:IRTC) also received a rating update from BTIG on April 13. The firm cut the price target on the stock to $185 from $215 and maintained a Buy rating on the shares. The rating update came as part of a broader research name on Medical Technology.
iRhythm Technologies, Inc. (NASDAQ:IRTC) is a digital healthcare company that provides design, development, and commercialization of device-based technology. It provides ambulatory cardiac monitoring services, along with solutions to detect, predict, and prevent disease.
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