Top 3 Picks
2026 Outlook
The Medical Devices sector is poised for robust growth through 2026, with projections indicating a compound annual growth rate (CAGR) of around 5-7% fueled by advancements in telemedicine, wearable tech, and personalized medicine. Increasing adoption of digital health solutions and expanding emerging markets will drive demand, though challenges like supply chain volatility and stringent regulations could pose risks. Overall, the sector's outlook remains positive, supported by ongoing R&D investments and a shift toward value-based healthcare.
Complete Rankings
| Rank | Stock | Score | Price | Market Cap |
|---|---|---|---|---|
|
1
|
TELA Bio, Inc. Common Stock
|
67.5 | $1.14 | $59M |
|
2
|
Baxter International Inc.
|
65.5 | $19.50 | $12.0B |
|
3
|
Daxor Corporation Common Stock
|
64.8 | $14.36 | $68M |
|
4
|
ResMed Inc.
|
62.4 | $244.81 | $39.7B |
|
5
|
Sight Sciences, Inc. Common Stock
|
62.3 | $7.48 | $175M |
|
6
|
Teleflex Incorporated
|
61.2 | $122.40 | $5.5B |
|
7
|
Vivos Therapeutics, Inc. Common Stock
|
60.9 | $2.53 | $24M |
|
8
|
Boston Scientific Corp.
|
60.4 | $94.71 | $142.0B |
|
9
|
NeuroOne Medical Technologies Corporation Common Stock
|
60.4 | $0.85 | $44M |
|
10
|
iRadimed Corporation
|
60.3 | $95.50 | $896M |
|
11
|
Inspire Medical Systems, Inc.
|
60.2 | $92.27 | $2.1B |
|
12
|
DIH Holdings US, Inc. Class A Common Stock
|
59.8 | -- | $10M |
|
13
|
NovoCure Limited Ordinary Shares
|
59.0 | $13.12 | $1.6B |
|
14
|
Penumbra, Inc.
|
59.0 | $309.42 | $9.7B |
|
15
|
Anika Therapeutics Inc
|
58.9 | $9.35 | $133M |
In-Depth Analysis: Top Medical Devices Stocks
TELA
TELA Bio Inc a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient's anatomy. Its growing product portfolio is purposefully designed to leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials. The company's OviTex portfolio consists of multiple product configurations …
TELA Bio matters in the Medical Devices sector due to its focus on innovative soft-tissue reconstruction solutions that prioritize patient anatomy preservation and restoration, addressing unmet needs for optimized clinical outcomes. Its growing product portfolio leverages advanced technology to differentiate in a competitive market, potentially driving advancements in surgical procedures.
TELA Bio's profitability is weak, evidenced by a -50.6% profit margin and a -676.4% ROE, indicating substantial losses and inefficient use of equity. Despite this, the company's 9.1% revenue growth suggests positive momentum in sales, which could improve financial health if operational efficiencies are achieved.
Investors should consider TELA Bio stock in 2026 given its 9.1% revenue growth, signaling strong market demand for its soft-tissue reconstruction products that enhance patient outcomes. The Tradestie Score of 67.5/100 indicates moderate investment appeal, supported by the company's commercial-stage status and expanding portfolio. As the Medical Devices sector grows, TELA's innovation in anatomy-preserving solutions positions it for potential profitability and stock upside by 2026.
BAX
Baxter offers a variety of medical supplies and equipment to providers. From its legacy operations, Baxter sells injectable therapies for use in care settings, including IV pumps, administrative sets, and solutions; nutritional products; and surgical sealants and hemostatic agents. Baxter expanded its portfolio of hospital-focused offerings by acquiring Hillrom in late 2021, which added basic equipment like hospital beds, operating …
Baxter International Inc. matters in the Medical Devices sector as a leading provider of essential medical supplies, including IV pumps, injectable therapies, and surgical sealants, which are critical for healthcare delivery in hospitals and clinics worldwide. Its expansion into nutritional products and hemostatic agents enhances its role in addressing diverse medical needs, making it a key innovator in a sector valued at over $500 billion annually.
Baxter's negative profit margin of -3.1% and ROE of -4.7% indicate current unprofitability and inefficient use of equity, highlighting challenges in cost management and operational efficiency. However, the company's 5.0% revenue growth demonstrates positive momentum in sales, suggesting potential for financial recovery if profitability metrics improve.
Baxter's 5.0% revenue growth reflects strong demand for its core products in an expanding medical devices market, positioning it for potential stock gains by 2026 as healthcare needs rise with an aging global population. The Tradestie Score of 65.5 signals moderate investment appeal, with opportunities for turnaround in profitability through operational optimizations and new product launches. By 2026, Baxter's diversified portfolio could capitalize on sector trends like post-pandemic recovery, driving earnings growth and shareholder value.
DXR
Daxor Corp is a medical instrumentation and biotechnology company focused on blood volume measurement. The company develops and markets the BVA-100 (Blood Volume Analyzer), the first diagnostic blood test cleared by the FDA to provide safe, accurate, objective quantification of blood volume status and composition compared to patient-specific norms in a broad range of medical conditions.
Daxor Corporation matters in the Medical Devices sector as it pioneers FDA-cleared blood volume analysis with the BVA-100, the first diagnostic tool providing precise quantification of blood volume status, which enhances patient diagnostics and could reduce healthcare costs by improving treatment accuracy.
Daxor's extraordinary profit margin of 2710.8% suggests highly efficient operations or unique revenue models, but this is offset by a modest ROE of 5.3% and a concerning -74.4% revenue growth, indicating potential short-term financial instability despite a high P/E ratio of 92.0 that reflects market expectations for future earnings.
By 2026, investors should consider DXR due to the expanding medical devices market, where Daxor's BVA-100 could see increased adoption for critical diagnostics, potentially reversing the -74.4% revenue decline as healthcare systems prioritize precise blood volume monitoring. The company's stellar 2710.8% profit margin highlights strong profitability potential if revenue stabilizes, and with a Tradestie Score of 64.8, the stock may offer growth opportunities amid sector innovations in biotechnology.
RMD
ResMed is one of the largest respiratory care device companies globally, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity is resulting in a structurally growing market. The company earns roughly two thirds of its revenue in the Americas and …
ResMed Inc. is a dominant force in the Medical Devices sector, leading the global market for respiratory care devices like flow generators, masks, and accessories that treat sleep apnea, serving millions of patients worldwide. Its significance is amplified by demographic trends such as ageing populations and rising obesity rates, which are driving increased diagnoses and demand for sleep apnea solutions.
ResMed exhibits robust profitability with a 27.4% profit margin and 25.4% return on equity, demonstrating efficient cost management and strong returns on shareholder investments. The company's 9.1% revenue growth further underscores its financial health, while a P/E ratio of 24.9 suggests the stock is fairly valued relative to its earnings potential.
By 2026, ResMed is poised for growth due to escalating demand for sleep apnea treatments, fueled by a projected increase in obesity prevalence and an ageing global population, which could expand its market share and revenue. The firm's strong financial metrics, including 9.1% revenue growth and 25.4% ROE, indicate sustained profitability and operational efficiency. Additionally, with a Tradestie Score of 62.4, ResMed's established leadership in respiratory devices positions it for potential stock appreciation as healthcare needs evolve.
SGHT
Sight Sciences Inc is an ophthalmic medical device company focused on the development and commercialization of surgical and nonsurgical technologies for the treatment of prevalent eye diseases. Its Surgical Glaucoma segment's product portfolio features the OMNI Surgical System, a device that facilitates the performance of both canaloplasty and trabeculotomy with a single device and single corneal incision to reduce intraocular …
Sight Sciences matters in the Medical Devices sector due to its specialized focus on ophthalmic innovations, particularly the OMNI Surgical System for glaucoma treatment, addressing a growing market for minimally invasive eye disease solutions. As eye diseases like glaucoma affect millions globally, the company's portfolio enhances accessibility to advanced surgical options, positioning it as a key contributor to sector advancements.
Sight Sciences exhibits poor profitability with a -60.6% profit margin and -57.9% ROE, indicating significant losses and inefficient use of equity in generating returns. Despite a modest -1.2% revenue growth, these metrics highlight financial strain, suggesting the company needs to address cost structures to improve overall health in the competitive medical devices landscape.
By 2026, Sight Sciences could see substantial upside from increasing demand for its OMNI Surgical System amid rising glaucoma cases, potentially driving revenue recovery from the current -1.2% growth rate. The Tradestie Score of 62.3/100 reflects moderate investment appeal, indicating room for improvement through operational efficiencies and market expansion. As a innovator in ophthalmic devices, successful regulatory milestones or partnerships could elevate stock value, making it an attractive buy for long-term growth in the sector.
TFX
Teleflex is a Wayne, Pennsylvania-based manufacturer of hospital supplies and medical devices primarily in the bloodstream/vascular and surgical areas. The firm reports results across seven segments: vascular access (24% of 2024 sales), interventional (19%), anesthesia (13%), surgical (15%), interventional urology (11%), original-equipment manufacturing (11%), and other (7%). Geographic exposure for the business is primarily in the US, which accounts for …
Teleflex matters in the Medical Devices sector as a key manufacturer of essential hospital supplies and devices, particularly in vascular access (24% of 2024 sales) and surgical areas, addressing critical needs in patient care and procedures. Its diversified segments, including interventional (19%) and anesthesia (13%), enable it to hold a significant position in high-growth healthcare markets.
Teleflex's profitability is currently weak, with a negative profit margin of -10.3% and a return on equity of -7.9%, indicating challenges in generating profits from sales and utilizing shareholder equity effectively. Despite this, the company's strong revenue growth of 19.4% suggests potential for financial improvement if operational efficiencies are achieved.
Teleflex's impressive revenue growth of 19.4% highlights its expanding presence in vital medical device segments like vascular access and surgical products, which are poised for sustained demand through 2026. The Tradestie Score of 61.2 indicates moderate investment potential, supported by the company's diversified portfolio that could capitalize on healthcare innovations. By 2026, if Teleflex leverages this growth to enhance profitability, it could deliver strong returns for investors seeking exposure to the evolving Medical Devices sector.
VVOS
Vivos Therapeutics Inc is a medical technology company. It is focused on the development and commercialization of a technology offering non-surgical, non-invasive, non-pharmaceutical, and low-cost solution for patients with sleep-disordered breathing (SDB), including mild-to-moderate obstructive sleep apnea (OSA). The company provides treatment for mild-to-moderate OSA involves customized oral appliances and protocols called the Vivos System. The Vivos systme is an …
Vivos Therapeutics matters in the Medical Devices sector because it addresses the growing prevalence of sleep-disordered breathing (SDB) with innovative, non-surgical, and cost-effective solutions, potentially reducing reliance on invasive procedures. Its technology targets a underserved market segment, offering scalable alternatives that could enhance patient outcomes and drive sector innovation amid rising demand for sleep health treatments.
Vivos Therapeutics demonstrates strong revenue growth of 75.7%, indicating successful market expansion, but its profitability is severely compromised with a profit margin of -98.8% and an ROE of -335.4%, reflecting significant operational losses and inefficient equity utilization. This financial profile suggests the company is prioritizing growth over immediate profitability, which is common in emerging med-tech firms but raises concerns about long-term sustainability.
By 2026, VVOS's 75.7% revenue growth could translate to substantial market penetration in the SDB space, driven by increasing awareness and adoption of its non-invasive devices. The company's focus on affordable, patient-friendly solutions positions it to capitalize on the expanding sleep health market, potentially achieving profitability as operational efficiencies improve. Additionally, with a Tradestie Score of 60.9, the stock offers a compelling opportunity for investors seeking high-growth potential in medical devices, despite current financial challenges.
BSX
Boston Scientific produces less invasive medical devices that are inserted into the human body through small openings or cuts. It manufactures products for use in angioplasty, blood clot filtration, kidney stone management, cardiac rhythm management, catheter-directed ultrasound imaging, upper gastrointestinal tract diagnostics, interventional oncology, neuromodulation for chronic pain, and treatment of incontinence. The firm markets its devices to healthcare professionals …
Boston Scientific matters in the Medical Devices sector as a pioneer in less invasive technologies for procedures like angioplasty, cardiac rhythm management, and kidney stone treatment, enhancing patient outcomes and driving sector innovation. Its broad portfolio addresses critical healthcare needs, positioning it as a key contributor to the growing demand for minimally invasive solutions amid an aging global population.
Boston Scientific's 14.4% profit margin and 12.5% ROE reflect strong profitability and efficient equity utilization, indicating a healthy financial position in the competitive Medical Devices sector. Coupled with a 20.3% revenue growth, these metrics demonstrate the company's ability to generate earnings while scaling operations effectively.
Boston Scientific's 20.3% revenue growth highlights its potential for continued expansion in high-demand areas like cardiac and vascular devices, making it an attractive buy for 2026. The company's high P/E ratio of 51.3 is supported by its innovative product pipeline and a Tradestie Score of 60.4, suggesting undervalued growth opportunities in a sector poised for advancements. As minimally invasive procedures gain adoption, Boston Scientific is well-positioned to capture market share and deliver shareholder returns through 2026.
NMTC
NeuroOne Medical Technologies Corp operates as a medical technology company. It is focused on the development and commercialization of thin-film electrode technology for continuous electroencephalogram (cEEG) and stereoelectrocencephalography (sEEG) recording, brain stimulation, and ablation solutions for patients suffering from brain-related disorders. The company business is in one operating segment, which is the business of development and commercialization of products related …
NeuroOne Medical Technologies Corp stands out in the Medical Devices sector for its innovative thin-film electrode technology, which enables advanced continuous electroencephalogram (cEEG) and stereoelectroencephalography (sEEG) recording, as well as brain stimulation and ablation solutions, addressing critical needs in neurology and neurosurgery.
NeuroOne's profitability is severely challenged, with a profit margin of -80.5% and a return on equity of -95.4%, indicating significant operational losses and inefficient use of shareholders' equity; however, the company demonstrates strong revenue growth of 105.4%, suggesting potential for scaling operations despite current financial weaknesses.
With revenue growth of 105.4%, NeuroOne is poised for substantial expansion in the growing medical devices market for neurological applications, potentially reaching profitability by 2026 as it commercializes its thin-film electrode technology. The Tradestie Score of 60.4 indicates moderate investment appeal, supported by increasing demand for advanced brain monitoring and treatment solutions. Investors may benefit from the company's innovative edge in a sector projected to grow due to rising neurological disorder prevalence, making NMTC a compelling buy for long-term gains.
IRMD
iRadimed Corp develops, manufactures, markets and distributes a Magnetic Resonance Imaging (MRI) compatible intravenous (IV) infusion pump system, and MRI compatible patient vital signs monitoring system, and accessories and services relating to them. The company provides a non-magnetic IV infusion pump system which is designed to be safe for use during MRI procedures. The MRI products of the company are …
iRadimed Corporation stands out in the Medical Devices sector by specializing in MRI-compatible IV infusion and patient monitoring systems, which are essential for ensuring patient safety and operational efficiency during MRI procedures, addressing a niche yet critical market need that enhances healthcare delivery.
iRadimed's profitability is robust, evidenced by a 26.3% profit margin that indicates strong cost management and revenue conversion, while a 23.3% ROE highlights efficient use of shareholders' equity to generate returns, underscoring solid financial health.
With a 15.7% revenue growth rate, iRadimed is poised for continued expansion in the growing demand for MRI-compatible devices by 2026, potentially driven by advancements in healthcare technology. The company's P/E ratio of 59.3 suggests high market expectations for future earnings, supported by its niche innovation and a Tradestie Score of 60.3, indicating moderate upside potential. This positions IRMD as an attractive buy for investors seeking exposure to specialized medical devices with strong growth prospects.
Methodology
Stocks are ranked using the Tradestie Score, a proprietary 0-100 rating that combines fundamental quality (profitability, balance sheet strength), growth metrics (revenue and earnings growth), valuation (P/E, PEG ratio), and momentum factors. Scores are updated daily based on the latest market data. Learn more about our methodology.