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8 top medical supplies stocks to buy in 2024

Ready to invest in the health industry? Learn how to invest in medical supplies stocks in just a few steps.

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.

The top health stocks included on this page all trade on the S&P 500, have an analyst recommendation of "Buy" or better and are sorted by year-to-date performance.

  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)

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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 of 2024.
  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.

Take a deeper dive into medical supplies stocks

If you're interested in investing in the health industry, take a closer look at what companies in this industry do and how the stocks have historically performed. Keep in mind that positive past performance doesn't guarantee that a stock will continue to rise in the future.

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.

The Cooper Companies stock opened the day at $90.99 after a previous close of $90.67. The latest price was $91.99 (25-minute delay). The Cooper Companies is listed on the NASDAQ, has a trailing 12-month revenue of around USD3.7 billion and employs 15,000 staff.

  • Market capitalization: $18,070,140,928
  • P/E ratio: 53.3824
  • PEG ratio: 11.5514

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2. Baxter International (BAX)

Baxter International Inc. , through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care.

Baxter International stock opened the day at $35.43 after a previous close of $35.27. The latest price was $35.49 (25-minute delay). Baxter International is listed on the NYSE, has a trailing 12-month revenue of around USD$14.9 billion and employs 60,000 staff.

  • Market capitalization: $18,013,652,992
  • PEG ratio: 1.6956

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3. Hologic (HOLX)

Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.

The latest price was $78.34 (25-minute delay). Hologic is listed on the NASDAQ, has a trailing 12-month revenue of around USD$4 billion and employs 6,990 staff.

  • Market capitalization: $18,124,058,624
  • P/E ratio: 40.0309
  • PEG ratio: 1.4481

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4. Dentsply Sirona (XRAY)

DENTSPLY SIRONA Inc. manufactures and sells various dental products and technologies worldwide. It operates in four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare.

Dentsply Sirona stock opened the day at $26.13 after a previous close of $26.06. The latest price was $26.24 (25-minute delay). Dentsply Sirona is listed on the NASDAQ, has a trailing 12-month revenue of around USD$3.9 billion and employs 15,000 staff.

  • Market capitalization: $5,483,534,848
  • PEG ratio: 1.5268

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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. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site. It also offers interventional products, which consists of various coronary catheters, structural heart support devices, and peripheral intervention and mechanical circulatory support platform that are used by interventional cardiologists and radiologists, and vascular surgeons; and Arrow branded pumps and catheters, Guideline, Turnpike, and Trapliner catheters, the Manta Vascular Closure, and Arrow Oncontrol devices.

Teleflex Incorporated stock opened the day at $224.11 after a previous close of $223.37. The latest price was $224.57 (25-minute delay). Teleflex Incorporated is listed on the NYSE, has a trailing 12-month revenue of around USD$3 billion and employs 14,500 staff.

  • Market capitalization: $10,446,884,864
  • P/E ratio: 35.4864
  • PEG ratio: 2.4788

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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. It operates in two segments, Sleep and Respiratory Care, and Software as a Service.

ResMed stock opened the day at $208.35 after a previous close of $209.53. The latest price was $206.20 (25-minute delay). ResMed is listed on the NYSE and has a trailing 12-month revenue of around USD$4.6 billion.

  • Market capitalization: $29,951,401,984
  • P/E ratio: 31.3662
  • PEG ratio: 1.7534

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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 complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

The latest price was $457.00 (25-minute delay). Intuitive Surgical is listed on the NASDAQ, has a trailing 12-month revenue of around USD$7.6 billion and employs 13,676 staff.

  • Market capitalization: $161,394,769,920
  • P/E ratio: 78.1804
  • PEG ratio: 7.1258

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8. Alcon (ALC)

Alcon Inc. researches, develops, manufactures, distributes, and sells eye care products for eye care professionals and their patients worldwide. The company's Surgical segment offers equipment, instrumentation and diagnostics, intraocular lenses (IOLs), and other implantables; and consumables, including viscoelastics, surgical solutions, incisional instruments, surgical custom packs, and other products for surgical procedures.

Alcon stock opened the day at $91.18 after a previous close of $90.93. The latest price was $92.41 (25-minute delay). Alcon is listed on the NYSE, has a trailing 12-month revenue of around USD$9.6 billion and employs 25,000 staff.

  • Market capitalization: $44,690,055,168
  • P/E ratio: 42.6588
  • PEG ratio: 4.5934

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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. And if you’re new to investing, or if it’s been awhile since you’ve taken a critical look at your investing accounts, compare brokers to make sure you’re getting the best features in your trading account.

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Finder is not an advisor or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.

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