9 medical device stocks to watch

Considering investing in medical device stocks? While the best medical device stocks depend on your portfolio and investment goals, we've identified some medical device stocks that are worth keeping an eye on in the health product sector. Keep reading to learn more about medical device stocks and how to start investing.

9 popular medical device stocks to watch

We round up a selection of stocks in or related to the health product industry, weighting the list more heavily towards popular mid- and large-cap stocks.

Best stock	1-year return	Market cap	Exchange	Volume	Buy on CIBC Investor's Edge
Abbott Laboratories (ABT.US)	-16.52% Abbott Laboratories's 1-year return based on the closing price as of March 25, 2025.	$188.5 billion (USD)	NYSE	8,227,186	Buy now
Align Technology (ALGN.US)	6.39% Align Technology's 1-year return based on the closing price as of March 25, 2025.	$12.6 billion (USD)	NASDAQ	1,442,477	Buy now
Edwards Lifesciences (EW.US)	15.13% Edwards Lifesciences's 1-year return based on the closing price as of March 25, 2025.	$48 billion (USD)	NYSE	3,255,941	Buy now
Boston Scientific (BSX.US)	-32.54% Boston Scientific's 1-year return based on the closing price as of March 25, 2025.	$105.8 billion (USD)	NYSE	10,959,177	Buy now
Medtronic (MDT.US)	-0.82% Medtronic's 1-year return based on the closing price as of March 25, 2025.	$112 billion (USD)	NYSE	6,902,940	Buy now
Penumbra (PEN.US)	18.40% Penumbra's 1-year return based on the closing price as of March 25, 2025.	$13.2 billion (USD)	NYSE	628,282	Buy now
Inogen (INGN.US)	-11.03% Inogen's 1-year return based on the closing price as of March 25, 2025.	$167.8 million (USD)	NASDAQ	291,479	Buy now
Johnson-and-Johnson (JNJ.US)	46.21% Johnson-and-Johnson's 1-year return based on the closing price as of March 25, 2025.	$571.8 billion (USD)	NYSE	7,311,992	Buy now
Stryker Corporation (SYK.US)	-10.60% Stryker Corporation's 1-year return based on the closing price as of March 25, 2025.	$133.6 billion (USD)	NYSE	1,595,256	Buy now

The values in this table are accurate as of the market close on March 24, 2026, or the most recent data available. Volume refers to the number of shares traded during the day.

What to look for when investing in medical device stock

The health product industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering medical device stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Also keep in mind that, while volatility can be ideal for day traders, long-term investors will want to look for stocks to offer steadier gains over time.

How to invest in medical device stock

1. Research the health product industry. Before investing, learn about the medical device stock sector, its trends and the companies within it. Look at each company's financial health, potential for growth and past performance to identify stocks that fit your investment goals.
2. Choose a stock trading platform. Compare trading fees, access to trading tools and user interface options. We've identified reliable trading platforms to help narrow down your options below or check out the best stock trading apps in Canada to find one that suits your needs.
3. Open and fund your account. Sign up with your personal details and link a bank account or funding method to deposit money before you start trading.
4. Select the medical device stock(s) to buy. Search by company name or ticker symbol, like ABT or ABMD. Compare key metrics such as market cap, price history and earnings per share to pick the best stock for your strategy.
5. Buy the stock and monitor performance. Place your order to buy the stock and track its performance over time. Consider setting alerts, signing up for industry newsletters or using platform research tools to stay up to date on market changes.

Our top picks for where to buy medical device stocks

Are medical device stocks a good investment?

While it's possible to turn a profit investing in medical device stocks, keep in mind that—like any investment—medical device stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the health product industry, so carefully vet your picks before you invest.

What are the best medical device stocks?

A lot of factors go into picking the best medical device stocks. Stock performance can be impacted by factors like market conditions, company decisions and global events. Plus, what may be a strong medical device stock investment for one person might not be suitable for another.

That said, we rounded up this list of popular medical device stocks in or related to the health product industry to help narrow down your options:

• Abbott Laboratories (ABT)
• Align Technology (ALGN)
• Edwards Lifesciences (EW)
• Boston Scientific (BSX)
• Medtronic (MDT)
• Penumbra (PEN)
• Inogen (INGN)
• Johnson-and-Johnson (JNJ)
• Stryker Corporation (SYK)

Keep in mind that this is not a "best" list or a recommendation. It highlights some medical device stocks for informational purposes only and does not indicate past or future performance or investment advice. We do not guarantee any investment performance.

We've outlined detailed company and stock performance details for each medical device stock below. Keep reading to decide if any of these companies are the right investment for you.

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Abbott Laboratories (ABT)

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company offers generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, hypertriglyceridemia, Ménière's disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.

Closing stock price	$104.85
Market Capitalization The total market value of Abbott Laboratories's outstanding shares	$188.5 billion
Gross profit (TTM)	$25.1 billion
Profit margin	14.72%
Revenue (TTM)	$44.3 billion
Earnings per share (TTM)	$3.72
52-week stock price range	$105.27 – $137.13

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Align Technology (ALGN)

Align Technology, Inc. provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers Invisalign comprehensive package to treat adults and teens malocclusion and features, and orthodontic needs of teenage or younger patients; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients between the ages of six and ten years with a mixture of primary/baby and permanent teeth.

Closing stock price	$180.86
Market Capitalization The total market value of Align Technology's outstanding shares	$12.6 billion
Gross profit (TTM)	$2.8 billion
Profit margin	10.17%
Revenue (TTM)	$4 billion
Earnings per share (TTM)	$5.65
52-week stock price range	$122.00 – $208.31

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Edwards Lifesciences (EW)

Edwards Lifesciences Corporation provides products and technologies to treat advanced cardiovascular diseases in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL and EVOQUE brands. The company also provides surgical structural heart solutions, such as aortic surgical valve under the INSPIRIS brand name; INSPIRIS RESILIA aortic valve, which offers RESILIA tissue and VFit technology; KONECT RESILIA, a pre-assembled tissue valve conduit for complex combined procedures; and MITRIS RESILIA valve.

Closing stock price	$82.02
Market Capitalization The total market value of Edwards Lifesciences's outstanding shares	$48 billion
Gross profit (TTM)	$4.7 billion
Profit margin	17.69%
Revenue (TTM)	$6.1 billion
Earnings per share (TTM)	$1.81
52-week stock price range	$65.94 – $87.89

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Boston Scientific (BSX)

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. The company operates in two segments, MedSurg and Cardiovascular. It offers devices to diagnose and treat a range of gastrointestinal conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, SpyGlass, single-use scopes used for diagnostic and therapeutic procedures in the pancreaticobiliary system, in endoscopic retrograde cholangiopancreatography procedures, and single-use duodenoscopes, as well as endoluminal surgery and infection prevention products; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, urinary and bowel dysfunction, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, penile implants, artificial urinary sphincter, laser system, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator systems, radiofrequency ablation, and intraosseous nerve ablation and deep brain stimulation systems.

Closing stock price	$69.54
Market Capitalization The total market value of Boston Scientific's outstanding shares	$105.8 billion
Gross profit (TTM)	$13.8 billion
Profit margin	14.44%
Revenue (TTM)	$20.1 billion
Earnings per share (TTM)	$1.94
52-week stock price range	$67.56 – $109.50

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Medtronic (MDT)

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients in the United States, Ireland, and internationally. The Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software. It also provides aortic valves, surgical valve replacement and repair products, endovascular stent grafts and accessories, and transcatheter pulmonary valves, and percutaneous coronary intervention products, percutaneous angioplasty balloons, and other products.

Closing stock price	$87.17
Market Capitalization The total market value of Medtronic's outstanding shares	$112 billion
Gross profit (TTM)	$23.1 billion
Profit margin	13.00%
Revenue (TTM)	$35.5 billion
Earnings per share (TTM)	$3.58
52-week stock price range	$77.73 – $105.55

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Penumbra (PEN)

Penumbra, Inc. , together with its subsidiaries, designs, develops, manufactures, and markets medical devices in the United States and internationally. It offers computer-assisted vacuum thrombectomy; peripheral thrombectomy products, including the Indigo System for power aspiration of thrombus in the body; Lightning Flash, a mechanical thrombectomy system; Lightning Bolt 7, an arterial thrombectomy system; and CAT RX.

Closing stock price	$335.56
Market Capitalization The total market value of Penumbra's outstanding shares	$13.2 billion
Gross profit (TTM)	$942.4 million
Profit margin	12.66%
Revenue (TTM)	$1.4 billion
Earnings per share (TTM)	$4.53
52-week stock price range	$221.26 – $362.41

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Inogen (INGN)

Inogen, Inc. , a medical technology company, develops, manufactures, and markets respiratory health products in the United States and internationally. The company offers portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.

Closing stock price	$6.45
Market Capitalization The total market value of Inogen's outstanding shares	$167.8 million
Gross profit (TTM)	$154.3 million
Profit margin	-6.52%
Revenue (TTM)	$348.7 million
Earnings per share (TTM)	-$0.86
52-week stock price range	$5.34 – $9.13

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Johnson-and-Johnson (JNJ)

Johnson & Johnson, together with its subsidiaries, engages in the research and development, manufacture, and sale of a range of products in the healthcare field worldwide. It operates in two segments, Innovative Medicine and MedTech. The Innovative Medicine segment offers products for various therapeutic areas, such as oncology, immunology, neuroscience, pulmonary hypertension, infectious diseases, and cardiovascular and metabolism distributed through retailers, wholesalers, distributors, hospitals, and healthcare professionals for prescription use.

Closing stock price	$235.42
Market Capitalization The total market value of Johnson-and-Johnson's outstanding shares	$571.8 billion
Gross profit (TTM)	$64.1 billion
Profit margin	28.46%
Revenue (TTM)	$94.2 billion
Earnings per share (TTM)	$11.03
52-week stock price range	$137.67 – $251.71

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

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Stryker Corporation (SYK)

Stryker Corporation operates as a medical technology company in the United States and internationally. It operates through two segments, MedSurg and Neurotechnology, and Orthopaedics. The MedSurg and Neurotechnology segment offers surgical equipment, patient and caregiver safety technologies, navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, clinical communication and artificial intelligence-assisted virtual care platform technology, and minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke and venous thromboembolism; traditional brain and open skull based surgical procedures products; and orthobiologic and biosurgery products, including synthetic bone grafts and vertebral augmentation products.

Closing stock price	$332.59
Market Capitalization The total market value of Stryker Corporation's outstanding shares	$133.6 billion
Gross profit (TTM)	$16.3 billion
Profit margin	12.92%
Revenue (TTM)	$25.1 billion
Earnings per share (TTM)	$8.41
52-week stock price range	$326.90 – $402.95

All dollar amounts in this table are in USD. TTM refers to the "trailing 12 months." All values are accurate as of the market close on March 22, 2026.

Compare trading platforms to buy medical device stock

Compare special offers, low fees and a wide range of investment options among popular trading platforms in Canada. Note that the dollar amounts in the table below are in CAD.

Related: Compare the best stock trading platforms in Canada

Bottom line

If you're considering adding medical device stocks to your portfolio, make sure you thoroughly look into any companies before investing to help mitigate risk. We've compiled a list of medical device stocks to help narrow down your options. Then choose a legitimate stock trading platform to start investing. After that it comes down to monitoring the health product industry to know when to buy, sell or hold.

Related: How to buy stocks in Canada

Frequently asked questions about medical device stocks

• What are medical device stocks?

  Medical device stocks are shares of companies that either directly work in the medical device sector or operate within related industries. Investors interested in buying medical device stocks may be looking to take advantage of market trends or lock in investments for the long haul.

• What is the top medical device stock to buy in 2026?

  Unfortunately, it's almost impossible to choose a single "top" medical device stock to invest in due to factors like market fluctuations, company management and shifting economic trends. These can all change—sometimes overnight—how a stock performs. It's best to do your own research to decide which companies fit within your risk tolerance. Reviewing a company's financial reports and past stock performance can help you decide if it's worth investing in.

• Where can I find information and regular updates about the health product industry?

  You can keep track of the latest health product news and updates by signing up for financial newsletters, visiting financial news sites, reading company investor relations pages and using market research platforms. Many online brokerages also offer sector reports, stock screeners and alerts to help you track movements in your stock performance or updates in or related to the health product industry.

Check these other commodities and investment sectors

If you're thinking about diversifying your portfolio and investing in sectors beyond medical device stocks, here are some others you can consider:

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