The medical device industry has seen tremendous growth over the last few years, and it is expected to continue to grow into 2023 and beyond. There are many large companies in the industry today, but what are the five biggest medical device stocks to watch in 2023?
Johnson & Johnson (JNJ) is one of the world’s largest healthcare companies and a major player in the medical device industry. The company’s portfolio consists of a wide range of popular products and services, including prescription drugs, over-the-counter medicines, medical devices, and consumer products. JNJ shares have provided investors with consistent returns and have outperformed the S&P 500 in the last year. Investors are sure to watch JNJ closely in the medical device industry in 2023.
Medtronic (MDT) is another leader in the medical device industry. The company is the world’s largest manufacturer of medical devices and has a wide range of offerings, including implants, cardiac rhythm management systems, insulin pumps, defibrillators, and drug delivery systems. Medtronic shares have also been solid investments over the last year and will remain a major player in the medical device market in 2023.
Boston Scientific (BSX) is a major player in many medical specialties, including interventional cardiology, endoscopy, neuromodulation, and vascular diseases. Its product portfolio includes a wide range of cardiac, percutaneous, and other medical devices. Boston Scientific has a strong financial position and its stock has outperformed the S&P 500 in the last year. The company is expected to remain a leader in the medical device industry in 2023.
Stryker Corporation (SYK), another major player in the medical device industry, operates in four main product categories; orthopaedics, medical and surgical equipment, and reconstructive implants. Stryker is renowned for its strong operational performance and its dedication to innovative, high-quality devices. The company’s stock has outperformed the S&P 500 in the last year and is expected to continue to do so in 2023.
Finally, Intuitive Surgical (ISRG) is a leading provider of robotic-assisted surgical devices and software. Its da Vinci surgical system is used in other medical specialties, including urology, cardiology, and bariatric surgery. The company’s stock has seen tremendous returns in the past year and is expected to remain a leader in the medical device industry in 2023.
These five companies are the biggest medical device stocks to watch in 2023. Each of these companies has a strong presence in the medical device industry and has seen positive returns in the past year. As the industry continues to grow, these five companies are expected to continue to lead the charge to innovative medical solutions.