5 Best Medical Technology Stocks to Buy

In this article, we discuss 5 best medical technology stocks to buy. If you want to see more stocks in this selection, check out 11 Best Medical Technology Stocks to Buy. 

5. Edwards Lifesciences Corporation (NYSE:EW)

Number of Hedge Fund Holders: 57

Edwards Lifesciences Corporation (NYSE:EW) is a California-based provider of products and technologies for structural heart disease, critical care, and surgical monitoring in the United States, Europe, Japan, and internationally. On November 1, Edwards Lifesciences Corporation (NYSE:EW) announced an accelerated share repurchase agreement to buy back $750 million of its common stock. The company has repurchased more than $1.7 billion of its common stock in 2022. Edwards Lifesciences Corporation (NYSE:EW) is one of the best medical technology stocks to invest in. 

On December 12, Citi analyst Joanne Wuensch maintained a Buy recommendation on Edwards Lifesciences Corporation (NYSE:EW) but lowered the firm’s price target on the shares to $92 from $99. Looking into 2023, “many headwinds remain” for the North America medical technology group, but these should ease in the second half of next year, which will improve operating margins, the analyst told investors in a research note. 

According to Insider Monkey’s Q3 data, 57 hedge funds were long Edwards Lifesciences Corporation (NYSE:EW), up from 39 funds in the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 7.5 million shares worth $623 million. 

Here is what Wedgewood Partners specifically said about Edwards Lifesciences Corporation (NYSE:EW) in its Q3 2022 investor letter:

“Edwards Lifesciences Corporation (NYSE:EW) reported just +5% growth in revenue (foreign exchange adjusted) compared to a year ago. While this quarter represented a deceleration in revenue growth from earlier this year, much of that was due to hospital staffing shortages and the vagaries of global healthcare systems emerging from pandemic disruptions. The Company received FDA approval for its minimally invasive mitral valve repair system, PASCAL, and also presented compelling related clinical data, which should help support accelerating growth over the next few years. As for Edwards’ core TAVR system, there continues to be a (unfortunately) pent-up, untreated population suffering from severe aortic stenosis that will finally be able to find their way back into healthcare systems as labor market pressures ease.”