Based on the aggregated intelligence of 180,000-plus investors participating in Motley Fool CAPS, the Fool's free investing community, the 10 stocks below are the highest rated in the medical device industry.

CAPS contains more than just the crowd's opinions. The votes of CAPS' best-performing members, known as All-Stars, count more in shaping each company's rating than do the picks of their poorer-performing peers. That way, the highest rated companies are not just the most popular companies in the industry, in this case Medtronic (NYSE: MDT) and Intuitive Surgical (Nasdaq: ISRG), but are the best of the best. You can then intelligently use members' collective wisdom to make better decisions and find hidden gems you may never have otherwise heard of.

The medical device industry has been doing well, though the industry is pushing for a faster FDA approval process to spur innovation and jobs, and to get devices to market quicker.

The highest-rated medical device stock is...
Looking at the aggregate data, we see that our community rates ZOLL Medical (Nasdaq: ZOLL) above the rest, and for good reason. As CAPS player Webb577 wrote:

Just like Medtronic, Zoll is at the forefront of the defibrillation and cardiac monitoring market. New technology, features and recent successes make Zoll the manufacturer to watch. If an agency doesn't buy a Lifepak, chances are, they're buying a Zoll. Cover all the options and buy both companies...

Here are the rest of the 10 highest-rated companies in the industry along with their CAPS rating:

 

Company

CAPS Rating 
(out of 5)

Market Cap 
(in millions)

1 ZOLL Medical ***** $778
2 Utah Medical Products ***** $99
3 Covidien ***** $22,506
4 Given Imaging ***** $479
5 Masimo ***** $1,281
6 SonoSite (Nasdaq: SONO) ***** $557
7 Hansen Medical (Nasdaq: HNSN) ***** $115
8 Varian Medical Systems (NYSE: VAR) ***** $6,794
9 St. Jude Medical (NYSE: STJ) ***** $12,716
10 Medtronic ***** $36,305

Source: Motley Fool CAPS, as of Nov. 7.

Use the table as a first step to help generate ideas for further research. Having a watchlist of promising companies is a great place to start. We can help you keep tabs on these beloved companies with My Watchlist, our free, personalized stock tracking service. Click here to start now.