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.
8. GE HealthCare Technologies Inc. (NASDAQ:GEHC)
GE HealthCare Technologies Inc. (NASDAQ:GEHC) is one of the best medical device stocks to invest in right now. Piper Sandler cut the price target on GE HealthCare Technologies Inc. (NASDAQ:GEHC) to $88 from $96 on April 17, reaffirming an Overweight rating on the shares. The firm stated that it is adding the recent acquisition of Intelerad into its model, and that this is inclusive of an additional $270M in annual revenue, a $75M increase in annual adjusted EBIT, and EPS that is slightly dilutive in 2026 and accretive in 2027 and 2028.
In a separate development, GE HealthCare Technologies Inc. (NASDAQ:GEHC) announced on April 23 that the first patient had been dosed in the international, multi-center Phase 2/3 LUMINA clinical trial of its manganese-based magnetic resonance imaging contrast agent, mangaciclanol, at Mayo Clinic in Rochester, Minnesota. If approved, Mangaciclanol could offer an alternative to, or even potentially replace, gadolinium-based MRI contrast agents, which are the current standard of care.
GE HealthCare Technologies Inc. (NASDAQ:GEHC) further reported that the investigational agent has been granted Fast Track designation by the U.S. Food and Drug Administration for use in adults and pediatric patients aged 2 years and older with MRI to detect and visualize lesions with abnormal vascularity in the central nervous system and the body.
GE HealthCare Technologies Inc. (NASDAQ:GEHC) develops and manufactures medical technology, pharmaceutical diagnostics, and digital solutions. The company’s operations are divided into the following segments: Imaging, Advanced Visualization Solutions (AVS), Patient Care Solutions (PCS), and Pharmaceutical Diagnostics (PDx).
7. Insulet Corporation (NASDAQ:PODD)
Insulet Corporation (NASDAQ:PODD) is one of the best medical device stocks to invest in right now. On April 24, Insulet Corporation (NASDAQ:PODD) was downgraded to Neutral from Buy by Rothschild & Co Redburn, with the firm bringing the price target on the stock down to $220 from $380. It told investors in a research note that the company’s distribution and product moats are “eroding”, and it believes that the company’s “elevated expectations” leave the stock’s risk/reward skewed to the downside. The firm contended that Insulet Corporation’s (NASDAQ:PODD) slowing growth profile challenges its ability to sustain its premium multiple relative to the sector.
Insulet Corporation (NASDAQ:PODD) also received a rating update from Truist on April 15. The firm cut the price target on the stock to $315 from $360 and reaffirmed a Buy rating on the shares. The rating update came as part of a broader research note previewing fiscal Q1 results in the MedTech sector. Truist told investors in the research note that the firm anticipates fiscal Q1 performances to be in line or better than what feels like an anxious investor sentiment around the fiscal Q1 volumes.
Insulet Corporation (NASDAQ:PODD) is a medical device company that develops, markets, and manufactures an insulin infusion system for people with insulin-dependent diabetes. The company specializes in diabetes supplies, along with other diabetes related products and supplies, including pump supplies, traditional insulin pumps, blood glucose testing supplies, and pharmaceuticals.
6. Medtronic plc (NYSE:MDT)
Medtronic plc (NYSE:MDT) is one of the best medical device stocks to invest in right now. Medtronic plc (NYSE:MDT) announced on April 28 that it received the CE mark for the Stealth AXiS™ surgical system, indicated for spine and cranial procedures. Management stated that the system is a next-generation platform that amalgamates navigation, planning, and robotics into a single intelligent system and is scalable across multiple surgical specialties for the company.
In a separate development, Medtronic plc (NYSE:MDT) announced on April 25 continued momentum for the Affera™ family of technologies for cardiac arrhythmia treatment. This includes promising data presented at the Heart Rhythm Society (HRS) Annual Meeting as well as the start of a new trial evaluating a broader population of atrial fibrillation (AFib) patients.
The company further stated that with global commercial expansion and ongoing positive physician feedback, Medtronic plc (NYSE:MDT) is continually investing in clinical research to study the Affera mapping and ablation system for potential new indications. It added that results from the ongoing early feasibility study evaluating the Affera mapping and ablation system and the Sphere-9™ catheter for treatment of recurrent sustained monomorphic ventricular tachycardia after a heart attack showed that 65.5% of patients remained free from VT recurrence at six months.
Medtronic plc (NYSE:MDT) is a medical technology company that manufactures, distributes, and sells device-based medical services and therapies. It operates under four primary segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit.
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