8 medical supplies stocks to watch

The best medical supplies stocks depend on your portfolio and investment goals—while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

8 popular medical supplies stocks to watch

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

1. The Cooper Companies (COO)
2. Baxter International (BAX)
3. Hologic (HOLX)
4. Dentsply Sirona (XRAY)
5. Teleflex Incorporated (TFX)
6. ResMed (RMD)
7. Intuitive Surgical (ISRG)
8. Alcon (ALC)

Compare investment accounts that help you research stocks

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

Our picks for platforms with research tools

How to invest in medical supplies stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like COO or BAX.
5. Place your order. Buy the stock. It's that simple.

Learn more about popular medical supplies stocks

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

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1. The Cooper Companies (COO)

The Cooper Companies, Inc. , together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical.

• Previous close price: $69.54
• Market capitalization: $13,860,167,680
• 1 year performance: -24.01%
• P/E ratio: 33.5604

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2. Baxter International (BAX)

Baxter International Inc. , through its subsidiaries, provides a portfolio of healthcare products in the United States. The company operates through three segments: Medical Products and Therapies, Healthcare Systems and Technologies, and Pharmaceuticals.

• Previous close price: $30.61
• Market capitalization: $15,390,117,888
• 1 year performance: -10.73%

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3. Hologic (HOLX)

Hologic, Inc. engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.

• Previous close price: $64.83
• Market capitalization: $14,369,045,504
• 1 year performance: -11.28%
• P/E ratio: 27.0924

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4. Dentsply Sirona (XRAY)

DENTSPLY SIRONA Inc. develops, manufactures, and markets dental equipment supported by cloud-enabled solutions, dental products, and healthcare consumable products in urology and enterology worldwide. It operates through four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare.

• Previous close price: $16.00
• Market capitalization: $3,061,140,224
• 1 year performance: -37.13%

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5. Teleflex Incorporated (TFX)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. It provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous bone access systems for the administration of intravenous therapies, the measurement of blood pressure, and the collection of blood samples. The company also offers interventional products, including various coronary catheters, structural heart support devices, peripheral intervention products, and mechanical circulatory support platform; and Arrow branded intra-aortic balloon pumps and catheters, Guideliner, Turnpike, and Trapliner catheters, the Manta Vascular Closure, and Arrow Oncontrol devices.

• Previous close price: $119.58
• Market capitalization: $5,228,000,256
• 1 year performance: -41.21%
• P/E ratio: 36.6285

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6. ResMed (RMD)

ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.

• Previous close price: $257.91
• Market capitalization: $37,196,337,152
• 1 year performance: 25.30%
• P/E ratio: 28.5034

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7. Intuitive Surgical (ISRG)

Intuitive Surgical, Inc. develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables surgical procedures using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic endoluminal procedures enabling minimally invasive biopsies in the lung.

• Previous close price: $534.19
• Market capitalization: $182,563,782,656
• 1 year performance: 23.50%
• P/E ratio: 74.5769

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8. Alcon (ALC)

Alcon Inc. researches, develops, manufactures, distributes, and sells eye care products worldwide. It operates through two segments, Surgical and Vision Care.

• Previous close price: $87.57
• Market capitalization: $42,511,269,888
• 1 year performance: -1.74%
• P/E ratio: 37.9556

Buy medical supplies stocks from these online trading platforms

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Note: The dollar amounts in the table below are in Canadian dollars.

Finder Score for stock trading platforms

To make comparing even easier we came up with the Finder Score. Trading costs, account fees and features across 10+ stock trading platforms and apps are all weighted and scaled to produce a score out of 10. The higher the score the better the platform - simple.

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Related: Compare the best stock trading platforms in Canada

Bottom line

While it's possible to turn a profit investing in medical supplies stocks, keep in mind that—like any investment—medical supplies stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the health industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.

Related: How to buy stocks in Canada

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.