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.
9. IDEXX Laboratories, Inc. (NASDAQ:IDXX)
Number of Hedge Fund Holders: 58
Stock Upside: 26.45%
IDEXX Laboratories, Inc. (NASDAQ:IDXX) is one of the best medical technology stocks to buy right now. On May 19, IDEXX Laboratories, Inc. (NASDAQ:IDXX) announced that its SDMA kidney biomarker will be built directly into Catalyst CLIPs. Catalyst CLIPs is the most widely used point-of-care chemistry profiles on the company’s Catalyst platform. IDEXX said this integration will roll out to customers in the United States and Canada starting next month.
SDMA, short for symmetric dimethylarginine, measures how efficiently the kidneys filter waste from the blood. Its key advantage over the traditional marker creatinine is that it can flag a kidney function decline as early as 25-40% loss. Contrarily, creatinine often doesn’t register a problem until up to 75% of kidney function is already gone, as per IDEXX.
The company added that previously, veterinarians who wanted SDMA data had to order it as a separate test. Now, the data will be embedded within the Chem 11, Chem 16, and Chem 18 Catalyst CLIPs profiles at no additional cost. The results will flow automatically into IDEXX’s VetConnect PLUS diagnostic data platform.
IDEXX’s CEO Mike Erickson spoke of the move as a scaling strategy, noting that “SDMA is a clear example of how IDEXX innovates by developing clinically relevant diagnostics and then scaling their impact through platforms veterinarians already use every day.”
IDEXX Laboratories, Inc. (NASDAQ:IDXX) is a medical technology company focused on diagnostic and information technology solutions for animal health. The company develops and sells veterinary diagnostic instruments, laboratory services, rapid test kits, and software platforms used by veterinary clinics and hospitals worldwide.
8. Insulet Corporation (NASDAQ:PODD)
Number of Hedge Fund Holders: 60
Stock Upside: 59.33%
Insulet Corporation (NASDAQ:PODD) is one of the best medical technology stocks to buy right now. On May 20, William Blair analyst Steve Lichtman assumed coverage of Insulet Corporation (NASDAQ:PODD) with an Outperform rating.
Lichtman argued that Insulet’s steep selloff has created an appealing entry point despite risks to its near‑term growth outlook. The analyst highlighted that the company’s valuation looks attractive compared to peers, especially given its stronger revenue trajectory.
Nevertheless, the analyst flagged the threat of increased competition. He noted that rival device makers are pushing into Insulet’s pharmacy distribution channel and the tubeless pump market where Omnipod holds a dominant position. The analyst added that there is quite an amount of uncertainty around how much of the type 2 diabetes patient population Insulet can realistically capture, given that GLP-1 drugs like Ozempic and Mounjaro are increasingly managing these patients without requiring insulin delivery devices.
Despite those concerns, Lichtman concluded that the bull case is stronger. He pointed to an ongoing US salesforce expansion that should widen Insulet’s commercial reach domestically as one of key growth catalysts that could drive the stock higher. The other catalysts are a rich product development pipeline and continued international market penetration where Omnipod still has significant room to grow.
Insulet Corporation (NASDAQ:PODD) is a medical technology company that develops and manufactures wearable insulin delivery systems for people with diabetes. The company is best known for its Omnipod platform, a tubeless automated insulin delivery device that integrates with continuous glucose monitoring systems to help patients manage blood sugar levels more effectively.
7. GE HealthCare Technologies Inc. (NASDAQ:GEHC)
Number of Hedge Fund Holders: 48
Stock Upside: 24.49%
GE HealthCare Technologies Inc. (NASDAQ:GEHC) is one of the best medical technology stocks to buy right now. On May 21, UBS upgraded GE HealthCare Technologies Inc. (NASDAQ:GEHC) to Neutral from Sell and lowered its price target to $69 from $75.
The firm noted that GE HealthCare’s stock valuation fell by about 30% and that this drop is large enough to no longer justify an outright bearish position. GE HealthCare’s shares were trading at around $64 at the time of the note, which was near their 52-week low of $58.75. As a result, UBS concluded that much of the downside it had previously flagged is now reflected in the stock price.
The reason the shares declined that much was Q1 2026 earnings that the market thought were quite disappointing. In the report, the company said it posted $5.1 billion in quarterly revenue, up 2.9% year over year (organic) and slightly ahead of consensus. However, the adjusted EPS came in at $0.99 against an expected $1.05, as rising costs tied to memory chips, oil prices, and freight weighed heavily on margins.
Management noted that a supplier recall added further pressure to margins in Q1. This development compounded the inflation-driven cost increases and left management little room to offset the headwinds in the short term. Though GE HealthCare’s leadership maintained at the Bank of America Global Healthcare Conference in May that the company’s long-term growth trajectory remains intact and that cost initiatives, pricing actions, and new product launches should help restore margin improvement through the rest of the year.
GE HealthCare Technologies Inc. (NASDAQ:GEHC) is a medical technology company that provides diagnostic imaging, patient monitoring, pharmaceutical diagnostics, and healthcare digital solutions to hospitals and healthcare providers worldwide. Its product portfolio includes MRI, CT, ultrasound, X-ray, and molecular imaging systems.
6. Medtronic plc (NYSE:MDT)
Number of Hedge Fund Holders: 63
Stock Upside: 41.39%
Medtronic plc (NYSE:MDT) is one of the best medical technology stocks to buy right now. On May 21, Goldman Sachs reinstated coverage of Medtronic plc (NYSE:MDT) with a Neutral rating and an $84 price target.
The firm noted that Medtronic stock’s sharp pullback has brought its risk/reward profile to a roughly balanced position. Goldman sees the stock as appropriately priced at about a 10% discount to the Large Cap MedTech peer group, a gap it believes is justified by Medtronic’s relative pace of organic revenue and earnings growth compared to its bigger rivals. Put simply, the firm believes the stock is not a bargain, and not overpriced either.
Goldman models that Medtronic’s organic revenue will grow roughly in line with the long-term medtech sector average of around 5%. It expects earnings to grow more modestly because the product mix is less favorable to margin expansion than the wider peer group. In other words, Medtronic will need to grow its top line harder to achieve the same bottom-line lift as competitors.
Goldman had carried a Sell rating on Medtronic for over a year after first initiating at Sell in May 2024 with an $83 target. It then upgraded to Neutral in November 2025 with a $111 target after which it dropped coverage.
Medtronic plc (NYSE:MDT) is a global medical technology company that designs and manufactures a broad portfolio of devices and therapies used in cardiovascular, neuroscience, diabetes, and surgical care. Its key products include implantable pacemakers, defibrillators, insulin pumps, spinal and brain stimulation systems.
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