3 Medical Equipment Stocks Under $10 to Buy Now By StockNews
The medical equipment industry was hit hard when the treatment of COVID-19 cases became a priority for hospitals last year. The industry has been making a steady recovery, and patients are rescheduling medical appointments. We believe it would be prudent to invest now in quality medical equipment stocks Conformis, Harvard Bioscience (NASDAQ;), and Accuray(NASDAQ:), all of which trade at reasonable prices. Keep reading. Although the rising number of COVID-19-related cases has caused widespread concern, many patients now have the option to reschedule their non-COVID-19 treatments thanks to strong progress in the vaccine front. This has led to an increase in the demand for medical gear. In addition, the rising prevalence of chronic diseases and an emphasis on early diagnosis and treatment are contributing to the industry’s recovery.
Investors’ interest in the industry is evidenced by the SPDR S&P Health Care Equipment ETF’s (XHE) 5.6% gains over the past month, versus the SPDR S&P 500 Trust ETF’s (SPY) marginal returns. The integration of new technologies is predicted to drive the industry exponentially. Research and Markets reports that by 2030, the world’s medical equipment market will be worth $745 billion.
You might consider buying shares of the top medical device companies, Accuray Incorporated, Accuray Incorporated, Harvard Bioscience, Inc., (HBIO) and Conformis, Inc., (CFMS). The shares of these stocks currently trade at less than $10 each.
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