5 Best Medical Technology Stocks to Buy Right Now

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1. Thermo Fisher Scientific Inc. (NYSE:TMO)

Number of Hedge Fund Holders: 113

Stock Upside: 36.68%

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best medical technology stocks to buy right now. On May 20, Thermo Fisher Scientific Inc. (NYSE:TMO) hosted its annual Investor Day in New York City, where CEO Marc N. Casper and the senior leadership team outlined the company’s long-term financial targets and strategic priorities.

A key highlight of the event was the company’s leadership targeting a 7% organic revenue CAGR over the long term. Put simply, the executives expect the company to grow its underlying business at that pace annually, excluding acquisitions and currency swings.

For context, Thermo Fisher posted a 1% organic revenue growth in Q1 2026, its most recent quarter. Total revenue grew 6% to $11.01 billion, largely on the back of acquisitions and favorable currency. As such, the 7% organic target is a massive ambition.

The company also used Investor Day to reinforce its position as the dominant end-to-end partner for life sciences customers. Management argued that the company’s breadth and scale make it uniquely difficult for customers to replace.

On the same day, Thermo Fisher’s Board of Directors declared a quarterly cash dividend of $0.47 per common share. The payment will be disbursed later this year, on July 15, to shareholders of record as of June 15.

Thermo Fisher Scientific Inc. (NYSE:TMO) is a medical technology and life sciences company. It provides analytical instruments, laboratory equipment, diagnostics, and biotechnology services to healthcare providers, pharmaceutical companies, and research institutions worldwide.

While we acknowledge the potential of TMO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TMO and that has 100x upside potential, check out our report about the cheapest AI stock.

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