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2 Recently Upgraded Medical Device Stocks to Consider Adding to Your Portfolio -Breaking

by Mike Robinson

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© Reuters. There are 2 recently upgraded medical device stocks that you might consider adding to your portfolio

The market for medical equipment is expanding rapidly due to significant investment in technological innovation and the development smart solutions. The growing number of chronic diseases, as well as an ageing population is driving demand for medical devices. We think that the medical device stocks Edwards (EW), and Integra (IART), have been upgraded. These stocks are ideal investments now. So, let’s discuss.The global medical devices market was adversely impacted last year during the COVID-19 pandemic. But, the rising number of chronic illnesses and the importance being placed on early diagnosis and treatment is driving demand for medical equipment back to prepandemic levels. More than 50% of Americans have at least one chronic illness, according to studies. This number is increasing. Market growth is being driven by the aging population.

The industry is also poised for growth through the use of innovative technologies such as artificial intelligence (AI), 3-D printing and other smart gadgets. In 2028, the global market for medical devices is expected to expand at 5.4% annually to $657.98billion. And several companies are focusing on R&D to develop advanced devices to capitalize on the growing market.

Given this backdrop, we think recently upgraded medical devices stocks, Edwards Lifesciences Corporation (NYSE:) and Integra LifeSciences Holdings Corporation (IART), could be solid additions to one’s portfolio now. Robbie Marcus, a JPMorgan analyst upgraded EW last week from Neutral and Overweight to $140.00. And research analysts at JPMorgan Chase (NYSE:) & Co. upgraded IART from an underweight rating to a neutral rating.

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