5 Amazing NASDAQ Medical Device Stocks to Watch in 2023

As medical device technology continues to evolve and become more prevalent, investing in the medical device industry can be a great avenue for those looking to secure a solid return on their investments. Nasdaq, one of the most well-known and influential stock markets in the world, was the first of the exchanges to create a specially dedicated Medical Equipment and Supplies industry index to reflect the changes in this expanding market. Now, with the Nasdaq medical device index gaining even more traction, investors are more eager than ever to determine which stocks will perform well in the coming year of 2023. Here’s a look at some of the top-5 Nasdaq Medical Device Stocks that could be strong performers in the latter half of this year. First on the list is Edwards Lifesciences. One of the world’s foremost makers of heart-valve components and other cardiac-related medical devices, Edwards Lifesciences has been a consistent market leader in the medical device space for many years. In 2020, the company reported net sales of $4.3 billion, as well as profits of $1.6 billion. Additionally, their 2020 stock performance was incredibly strong, with the stock gaining over 20% in value. Edwards Lifesciences will be a strong performer in the Nasdaq Medical Device index for 2023. Next on the list is Zimmer Biomet. Zimmer Biomet is another major player in the medical device space, producing highly innovative technology for orthopedic-related procedures. In 2020, Zimmer Biomet reported net sales of $7.4 billion and profits of $1.2 billion, and its stock price rose by over 30% in 2020. With more innovative products on the horizon, Zimmer Biomet is poised to become a major player in the Nasdaq Medical Device index for 2023. Third on the list is Baxter International Inc. Baxter is one of the largest medical device manufacturers in the world and one of the most important players in the US healthcare industry. Baxter specializes in a variety of products related to the diagnostics, blood processing, and advanced therapy technologies. In 2020, Baxter reported net sales of $13 billion and profits of $1.6 billion, while its stock price rose by over 25%. 2023 looks like it could be a transformative year for Baxter International Inc., making it a great option in the Nasdaq Medical Device index. Fourth on the list is Abiomed. Abiomed is a leading innovator in medical device technology that specializes in products related to cardiac care. Its primary focus is on the development of implantable mechanical circulatory systems. In 2020, Abiomed reported net sales of $707 million and profits of $415 million, while its stock rose by more than 30%. With Abiomed’s new products and robust financials, this stock is a great choice for the Nasdaq Medical Device index for 2023. Finally, on the list is Medtronic. Medtronic is one of the world’s leading medical device manufacturers and has become renowned for its minimally invasive therapies and medical devices. In 2020, Medtronic reported net sales of $30.7 billion and profits of $3.3 billion, while its stock price rose by more than 50%. With Medtronic’s strong financials, advanced products, and strong stock performance in 2020, Medtronic is a strong choice for the Nasdaq Medical Device index for 2023. These five Nasdaq Medical Device Stocks in 2023 have all performed strongly in the last two years and look to continue that trend going forward. Whether you’re already an experienced investor or just getting into the medical device space, these stocks should be at the top of your watch list in 2021.