4 Medical Device Stocks Rated ‘Buy’ in the POWR Ratings -Breaking
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Because the rescheduling of elective surgeries and the integration of advanced technologies are driving the medical devices industry’s recovery this year, we think it could be wise to scoop up the shares of quality medical device stocks Stryker (SYK), Edwards Lifesciences (EW), Boston Scientific (BSX), and Zimmer Biomet (ZBH). These stocks have a ‘Buy’ rating in our proprietary POWR Rating system. Read on.The resumption of the rescheduling of elective surgeries as fewer COVID-19 patients are hospitalized, and an aging population, are driving the demand for medical devices. Investors’ interest in the medical device stocks is evident in the iShares U.S. Medical Devices ETF’s (IHI) 2.5% gains over the past three months and 14.5% year-to-date returns.
The integration of advanced technologies and innovative treatments are expected to drive the medical devices industry’s growth. According to a Research and Markets report, the global medical devices market is expected to grow at a 6.1% CAGR to $661 billion by 2026.
Given this backdrop, we think it could be wise to bet on fundamentally strong medical device stocks Stryker Corporation (NYSE:), Edwards Lifesciences Corporation (NYSE:), Boston Scientific Corporation (NYSE:), and Zimmer Biomet Holdings, Inc. (NYSE:). These stocks are rated ‘Buy’ in our POWR Ratings system.
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