In this article, we will discuss the 11 Best Medical Technology Stocks to Buy Right Now.

One of the key conclusions in EY’s 19th annual Pulse of the MedTech Industry Report is that the global medical technology market has moved from a period of post-pandemic turbulence into one of durable, broad-based growth. EY said in the report that the sector posted its seventh consecutive year of top-line revenue growth in 2025, which reached $584 billion. This figure, according to EY’s Americas Life Sciences Sector Leader Arda Ural, reflects “encouraging fundamentals” and “strong balance sheets.” EY further noted that healthcare delivery efficiency and technological advancements are the primary drivers of growth in the sector.

Unsurprisingly, Porsche Consulting’s analysis shows that artificial intelligence is a major feature of the technological advancement happening across the medical technology, or MedTech, space. They found that AI is deeply embedded across the MedTech value chain, which stretches from generative design and virtual clinical trials to supply chain optimization and personalized sales. In fact, the EY report cited earlier identified “harnessing AI to transform” as one of five defining characteristics of MedTech leaders in 2025.

That finding agrees with a May 15 BlackRock analysis, which noted that the FDA cleared just six AI-enabled medical devices in 2015, compared with 331 in 2025. The analysis added that 77% of all clearances concentrated in radiology and diagnostics. “We also see healthcare as a hotbed of innovation,” the BlackRock analysts wrote, “and believe the AI impact on human health companies has yet to be recognized by the market.”

BlackRock’s argument, in part, helps explain why the Franklin Templeton Institute’s Global Investment Management Survey, published this May, lists healthcare as one of its three priority sectors for equity investors in 2026. The others are industrials and technology. The Franklin Templeton analysts project S&P 500 earnings to grow 8% to 13% for the year, with a sector preference for names offering strong free cash flow yield and return on invested capital. These are characteristics that many well-positioned MedTech companies have in abundance.

With that backdrop in mind, this article identifies 11 medical technology stocks best positioned to benefit from this setup.

Our Methodology

To create this list, we used Finviz and Yahoo Finance stock screeners, reputable financial media sources like CNN and Bloomberg, and assessed MedTech-focused ETFs to curate an initial pool of companies. Only pure-play medical technology (MedTech) stocks were considered. From this group, we filtered for companies with substantial institutional interest, which we assessed using Q4 2025 hedge fund ownership data from the Insider Monkey database. We also ensured that the selected stocks had a minimum average analyst-projected upside potential of 20% as of May 21, 2026. The final selection is ranked in ascending order by the number of hedge funds holding their shares.

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).

Best Medical Technology Stocks to Buy Right Now

11. Inspire Medical Systems, Inc. (NYSE:INSP)

Number of Hedge Fund Holders: 48

Stock Upside: 20.07%

Inspire Medical Systems, Inc. (NYSE:INSP) is one of the best medical technology stocks to buy right now. On May 5, Stifel analyst Jonathan Block lowered his price target on Inspire Medical Systems, Inc. (NYSE:INSP) to $65 from $70, while keeping his Buy rating. Block made the call in reaction to Inspire’s weaker-than-expected guidance shared in the Q1 2026 earnings.

Inspire reported quarterly revenue of $204.6 million and an adjusted diluted earnings per share of $0.10. Both of these figures were ahead of Wall Street estimates, but their impact was drowned out by management slashing the company’s full-year 2026 revenue outlook to the $825 million-$875 million range. Stifel had anticipated a guidance of no less than $900 million, and even so, this was the lowest estimate on Wall Street. The consensus estimate on the Street was $966 million.

Management attributed the guidance reduction to a billing and payment problem tied to how Inspire’s implantable sleep apnea device, which is a hypoglossal nerve stimulator (HGNS), is now being coded for insurance reimbursement. Starting January 1 this year, the Centers for Medicare & Medicaid Services (CMS) introduced six new billing codes for HGNS procedures, and the way one of these codes is being applied has made doctors significantly less willing to perform the procedure. Nonetheless, Block noted that Inspire’s dominance in the HGNS market remains intact, and reimbursement clarity should improve.

Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company that develops and commercializes minimally invasive solutions for obstructive sleep apnea. Its primary product, the Inspire therapy system, is an implantable neurostimulation device designed to treat sleep apnea.

10. Align Technology, Inc. (NASDAQ:ALGN)

Number of Hedge Fund Holders: 57

Stock Upside: 28.53%

Align Technology, Inc. (NASDAQ:ALGN) is one of the best medical technology stocks to buy right now. On May 18, Stifel analyst Jonathan Block reaffirmed his Buy rating and $210 price target on Align Technology, Inc. (NASDAQ:ALGN) following a routine update to the firm’s financial model.

The model update incorporated clear aligner volume data that Align Technology has recently started disclosing regularly alongside its earnings reports and presentations. Stifel also reviewed Align’s latest 10-Q filing and used it to inform observations on valuation, the analyst said.

Block stated that Align’s Q1 2026 earnings influenced the updated model heavily. In the earnings report shared on April 29, revenue came in at $1.04 billion, up 6.2% year over year. Management credited the revenue growth to record clear aligner shipments and higher average selling prices. Clear aligner revenue specifically surged 7.4% year over year to $856 million, driven by volume growth, price increases, favorable foreign exchange, and lower net revenue deferrals. GAAP EPS for the quarter was $1.57 per diluted share, up from $1.26 in Q1 2025. This EPS jump came on the back of higher gross margins, lower tax rate, and buybacks reducing the share count, management noted.

Stifel’s $210 target has been in place since February, when the firm raised it from $200 after concluding that Align could deliver mid-single-digit comparable growth for the year. The firm calculated that this growth would support a share price in the $205-$215 range.

Align Technology, Inc. (NASDAQ:ALGN) is a medical technology company specializing in digital orthodontics and restorative dentistry solutions. The company is best known for its Invisalign clear aligner system, along with its iTero intraoral scanners and exocad dental CAD/CAM software platforms used by orthodontists and dentists worldwide.