10 Best Medical Stocks to Buy Under $30

8. Tandem Diabetes Care, Inc. (NASDAQ:TNDM)

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is one of the best medical stocks to buy under $30. On April 20, TD Cowen lifted its price target on Tandem Diabetes Care, Inc. (NASDAQ:TNDM) from $25 to $28 and kept its Buy rating on the stock.

The firm updated its financial model after Tandem Diabetes Care, Inc. (NASDAQ:TNDM) announced a pay-as-you-go program in the fourth quarter of 2025. TD Cowen noted that this move to a prescription-based distribution model and the Mobi Tubeless product could help the company achieve a mid-to-high-teens compound annual revenue growth rate.

TD Cowen expects the company to face revenue headwinds of about $85 million to $95 million globally in 2026 as it changes its distribution model. This transition is expected to take Tandem Diabetes Care, Inc. (NASDAQ:TNDM) two to three years as it works toward balancing prescription sales with durable medical equipment channels.

The research firm believes the company will be able to reach gross margins above 65% and EBITDA margins of around 25% when it scales. TD Cowen also noted that higher monthly prescription revenue per patient should offer growth tailwinds in the future.

Tandem Diabetes Care, Inc. (NASDAQ:TNDM) is a medical device company that specializes in insulin delivery and diabetes technology. It manufactures and sells advanced automated insulin delivery systems.