What are the medical device stocks with the highest dividends?

Medical device stocks with especially high dividend yields include Koninklijke Philips NV (NYSE:PHG) and Medtronic (NYSE:MDT).

Are medical device stocks a good buy now?

Some medical device stocks are good choices to buy now. Consider individual medical device stocks' valuations, growth prospects, and market positioning before buying.

What are the top medical device companies?

The top medical device companies based on market cap include Johnson & Johnson (NYSE:JNJ), Abbott Laboratories (NYSE:ABT), and Intuitive Surgical (NASDAQ:ISRG).

What are the most undervalued medical device stocks?

Some of the most undervalued medical device stocks based on forward price-to-earnings ratios include Integra LifeSciences Holdings (NASDAQ:IART), AdaptHealth (NASDAQ:AHCO), and InMode (NASDAQ:INMD).

Are small-cap medical device stocks more profitable than large-cap ones?

The answer depends on what is meant by "profitable." Large-cap medical device stocks typically generate higher profit margins than small-cap medical device stocks. However, investing in small-cap medical device stocks with tremendous growth potential can deliver greater investing profits in some cases compared to investing in mature, large-cap medical device stocks.

Is there an ETF for medical devices?

Yes, several ETFs focused on medical device stocks trade publicly. The largest of these medical device ETFs are the iShares U.S. Medical Devices ETF (NYSEMKT: IHI) and the State Street SPDR S&P Health Care Equipment ETF (NYSEMKT: XHE).

Best Medical Device Stocks for 2026 and How to Invest

By Keith Speights – Updated May 12, 2026 at 7:03 PM EST | Fact-checked by Parker Hicks

Key Points

Medical device market to grow to $1.2 trillion by 2034, driving investor interest.
Top stocks include Abbott Labs and Johnson & Johnson, both known for dividends.
Investing in these stocks offers opportunities due to aging demographic trends.

Medical device stocks are shares of companies that make and sell medical devices. Medical devices include any appliance, instrument, or machine used to diagnose, treat, or prevent a disease or condition. Software, implants, and chemical reagents used for those purposes are also considered medical devices.

With a global medical device market size of almost $680 billion, it's not surprising that many investors are interested in medical device stocks. And with that market is expected to grow to more than $1.2 trillion by 2034, investor interest will almost certainly intensify.

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A robotic arm medical device with charts and symbols superimposed over it. — Source: Getty Images

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Ticker Information Table
Name and ticker	Current price	Market cap	Dividend yield
Abbott Laboratories (NYSE:ABT)	$85.72	$150.3 billion	2.83%
GE HealthCare Technologies (NASDAQ:GEHC)	$62.43	$28.6 billion	0.22%
Intuitive Surgical (NASDAQ:ISRG)	$421.58	$150.0 billion	0.00%
Johnson & Johnson (NYSE:JNJ)	$225.49	$555.6 billion	2.27%
TransMedics Group (NASDAQ:TMDX)	$67.21	$2.3 billion	0.00%

Data as of May 29, 2026. Showing 5 of 5 total entries.

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1. Abbott Laboratories

NYSE: ABT

Abbott Laboratories

Today's Change

(-0.67%) $-0.58

Current Price

$85.72

Key Data Points

Market Cap

$150B

Day's Range

$85.58 - $86.73

52wk Range

$81.97 - $139.06

Volume

281.2K

Avg Vol

12.3M

Gross Margin

52.84%

Dividend Yield

2.83%

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Abbott Laboratories is a large-cap company that makes medical devices, including continuous glucose monitoring (CGM) systems, defibrillators, heart failure monitoring systems, mechanical heart valves, pacemakers, and spinal cord stimulators. It also operates multibillion-dollar business segments that market established pharmaceuticals, diagnostics systems, and nutritional products.

The COVID-19 pandemic provided a huge boost to Abbott's fortunes, thanks to the company's rapid diagnostic tests. Although the company's overall revenue declined as demand for the tests waned, Abbott's base business remains strong. In particular, Abbott's FreeStyle Libre stands out as a key growth driver. It's the top-selling CGM device in the world, with soaring sales.

Income investors may find Abbott especially attractive. It's a Dividend King with 54 consecutive years of dividend increases.

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2. GE Healthcare Technologies

NASDAQ: GEHC

GE HealthCare Technologies

Today's Change

(-0.68%) $-0.43

Current Price

$62.43

Key Data Points

Market Cap

$29B

Day's Range

$62.41 - $63.03

52wk Range

$58.75 - $89.77

Volume

1.7M

Avg Vol

4.7M

Gross Margin

38.84%

Dividend Yield

0.22%

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GE Healthcare Technologies was spun off from General Electric in 2023. However, the large-cap company has been a leader in the medical device market for decades.

The company has four business segments: imaging, advanced visualization solutions, patient care solutions, and pharmaceutical diagnostics. Medical imaging ranks by far as its biggest moneymaker, generating more than 40% of total revenue.

Like many medical device stocks, GE Healthcare should benefit from aging populations across the world. This tailwind could drive higher demand for the company's products as older individuals require more healthcare services.

GE Healthcare appears to be in a strong position to capitalize on this opportunity. It has a great track record of innovation and invests heavily in research and development -- more than $1 billion each year.

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3. Intuitive Surgical

NASDAQ: ISRG

Intuitive Surgical

Today's Change

(-0.48%) $-2.05

Current Price

$421.58

Key Data Points

Market Cap

$150B

Day's Range

$419.80 - $426.53

52wk Range

$414.30 - $603.88

Volume

68.1K

Avg Vol

Gross Margin

66.28%

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Intuitive Surgical is a large-cap company that pioneered the development of minimally invasive robotic surgical systems. The company launched its flagship da Vinci surgical system in 1999. Da Vinci was first approved for use in general laparoscopic surgery, but today it is used in a wide range of procedures.

More than 20.4 million procedures have been performed using Da Vinci systems, with roughly 3.2 million of those procedures done in 2025. More than 12,000 Da Vinci systems are installed in hospitals across the world.

Aside from a temporary slowdown during the COVID-19 pandemic, Intuitive Surgical's procedure volumes have grown steadily in recent years, boosting the company's recurring revenue from selling replacement instruments. In 2025, recurring revenue made up 84% of Intuitive's total revenue.

Aging trends should help Intuitive Surgical by driving increased demand for surgical procedures. The company also continues to enhance its robotic surgical systems so that they can be used for additional types of procedures.

4. Johnson & Johnson

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NYSE: JNJ

Johnson & Johnson

Today's Change

(-2.30%) $-5.31

Current Price

$225.49

Key Data Points

Market Cap

$556B

Day's Range

$224.56 - $231.67

52wk Range

$149.04 - $251.71

Volume

122.9K

Avg Vol

7.6M

Gross Margin

67.96%

Dividend Yield

2.27%

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Johnson & Johnson is a large-cap company that ranks as one of the world's biggest medical device makers. It markets medical devices that include catheters, implants, robotic surgical systems, surgical instruments, and wound closure products. J&J is also a top maker of prescription drugs.

Acquisitions have played a big role in helping Johnson & Johnson grow its medical device business. In recent years, the healthcare giant has acquired several medtech companies, including Abiomed and Verb Surgical.

Johnson & Johnson spun off its consumer health unit into a separate publicly traded entity, Kenvue (KVUE -0.40%), in May 2023. The move could enable the company to deliver even stronger long-term growth.

The stock remains a favorite for income investors, too. J&J has increased its dividend for an impressive 64 consecutive years, making it one of the top Dividend Kings in the market.

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5. TransMedics Group

NASDAQ: TMDX

TransMedics Group

Today's Change

(-0.91%) $-0.62

Current Price

$67.21

Key Data Points

Market Cap

$2.3B

Day's Range

$66.10 - $68.33

52wk Range

$60.10 - $156.00

Volume

23.7K

Avg Vol

1.3M

Gross Margin

58.76%

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TransMedics Group is a relatively small company that markets devices that support the transportation of donor organs. Its Organ Care System (OCS) essentially keeps lungs, hearts, and livers functioning during transportation.

Its OCS presents a huge leap forward from the cold storage that's the current standard for transporting donor organs. The technology significantly increases the number of organs that, ultimately, are able to be used in transplants. It can also help greatly reduce post-transplantation complications.

This big unmet medical need provides a great opportunity for TransMedics. The company's national aviation fleet, the first dedicated exclusively to transporting donor organs, puts it in a strong position to take advantage of this opportunity.

TransMedics continues to deliver strong revenue growth. The company is also now profitable.

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How to buy a medical device stock

Steps to take to invest in medical device stocks include:

Open your brokerage app: Log in to your brokerage account where you handle your investments. If you don't have one yet, take a look at our favorite brokers and trading platforms to find the right one for you.
Search for the stock: Enter the ticker or company name into the search bar to bring up the stock's trading page.
Decide how many shares to buy: Consider your investment goals and how much of your portfolio you want to allocate to this stock.
Select order type: Choose between a market order to buy at the current price or a limit order to specify the maximum price you're willing to pay.
Submit your order: Confirm the details and submit your buy order.
Review your purchase: Check your portfolio to ensure your order was filled as expected and adjust your investment strategy accordingly.

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Benefits and risks of investing in medical device stocks

The benefits of investing in medical device stocks include:

Medical device stocks are poised to benefit from aging demographics in many developed countries.
Technological advances hold the potential to create significant growth opportunities.
Medical device stocks are often resilient during turbulent periods.

However, there are also risks associated with investing in medical device stocks, such as:

Clinical trial failures and regulatory setbacks can cause medical device stocks to decline sharply.
Competition can be intense for some medical devices.
Product liability and safety issues can negatively impact medical device stocks.

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Should you invest in medical device stocks?

As with most investing questions, the answer to whether you should invest in medical device companies is that it depends. Every investor has different goals, risk tolerances, and time horizons.

Medical device stocks may not be ideal for investors with short time horizons and/or low risk-tolerance levels. However, for long-term investors who don't mind volatility, medical device stocks could offer an attractive opportunity.

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FAQ

Medical device stocks FAQ

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About the Author

Keith Speights is a contributing Motley Fool healthcare analyst covering publicly traded companies across pharmaceuticals, biotechnology, medical devices, technology, and marijuana. Prior to The Motley Fool, Keith was CEO of Constant Care Technology, a healthcare technology company; vice president of American HealthTech, a healthcare software company; and a director of operations for Blue Cross Blue Shield of Mississippi, a health insurer. He holds a B.S. in Industrial Engineering from Mississippi State University.

TMFFishBiz

Keith Speights has positions in Intuitive Surgical. The Motley Fool has positions in and recommends Abbott Laboratories, GE HealthCare Technologies, Intuitive Surgical, Kenvue, and TransMedics Group. The Motley Fool recommends Johnson & Johnson and recommends the following options: long January 2028 $520 calls on Intuitive Surgical and short January 2028 $530 calls on Intuitive Surgical. The Motley Fool has a disclosure policy.

Best Medical Device Stocks for 2026 and How to Invest

Key Points

1. Abbott Laboratories

Key Data Points

2. GE Healthcare Technologies

Key Data Points

3. Intuitive Surgical

Key Data Points

4. Johnson & Johnson

Key Data Points

5. TransMedics Group

Key Data Points

How to buy a medical device stock

Benefits and risks of investing in medical device stocks

Should you invest in medical device stocks?

Related investing topics

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The Largest Healthcare Companies by Market Cap in May 2026

Best Healthcare REITs for 2026 and How to Invest

These Are Billionaires’ Favorite Healthcare Stocks

FAQ

Medical device stocks FAQ

What are the medical device stocks with the highest dividends?

What are the medical device stocks with the highest dividends?

Are medical device stocks a good buy now?

Are medical device stocks a good buy now?

What are the top medical device companies?

What are the top medical device companies?

What are the most undervalued medical device stocks?

What are the most undervalued medical device stocks?

Are small-cap medical device stocks more profitable than large-cap ones?

Are small-cap medical device stocks more profitable than large-cap ones?

Is there an ETF for medical devices?

Is there an ETF for medical devices?

About the Author

Read Next

Stocks Mentioned

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Premium Investing Services

Key Data Points

Key Data Points

Key Data Points

4. Johnson & Johnson

Key Data Points

Key Data Points

How to buy a medical device stock

Benefits and risks of investing in medical device stocks

Should you invest in medical device stocks?

Best Stocks to Buy in May 2026

The Largest Healthcare Companies by Market Cap in May 2026

Best Healthcare REITs for 2026 and How to Invest

These Are Billionaires’ Favorite Healthcare Stocks

Medical device stocks FAQ

What are the medical device stocks with the highest dividends?

What are the medical device stocks with the highest dividends?

Are medical device stocks a good buy now?

Are medical device stocks a good buy now?

What are the top medical device companies?

What are the top medical device companies?

What are the most undervalued medical device stocks?

What are the most undervalued medical device stocks?

Are small-cap medical device stocks more profitable than large-cap ones?

Are small-cap medical device stocks more profitable than large-cap ones?

Is there an ETF for medical devices?

Is there an ETF for medical devices?

Five top medical device stocks for 2026