Buy medical device stocks now? Even with the new tax imposed by Obamacare? Health care analyst Max Macaluso recently sat down with Fool contributor Keith Speights to talk about why buying medical device stocks actually makes sense. Keith discusses three stocks that he really likes in the medical device sector: Cynosure (NASDAQ:CYNO), Edwards Lifesciences (NYSE:EW), and St. Jude Medical (NYSE:STJ).

Cynosure makes laser systems for cosmetic applications such as hair removal and cellulite reduction. The company recently announced the acquisition of a rival: Palomar Medical Technologies (NASDAQ:PMTI).

Edwards stands out as a leader in the transcatheter heart valve market with its SAPIEN heart valves. The company also makes tissue heart valves and hemodynamic monitoring devices.

St. Jude Medical competes in several medical device markets, with products ranging from defibrillators to heart valves. The company also is a key player in the growing renal denervation system space.

In this video, Max and Keith discuss how each of these three stocks could be good investment opportunities.

Fool contributor Keith Speights has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.