8 medical supplies stocks to watch

The best medical supplies stocks depend on your portfolio and investment goals—while volatility can be ideal for day traders, long-term investors will want to look to stocks with steadier gains over time.

8 popular medical supplies stocks to watch

We round up a selection of stocks in or related to the health industry, weighting the list more heavily towards popular mid- and large-cap stocks.

1. The Cooper Companies IncCommon Stock (COO)
2. Baxter International (BAX)
3. Hologic (HOLX)
4. Dentsply Sirona (XRAY)
5. Teleflex Incorporated (TFX)
6. ResMed (RMD)
7. Intuitive Surgical (ISRG)
8. Alcon (ALC)

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The medical supplies stocks industry is affected by a range of complex factors such as trade policies, regulations, and fluctuating supply and demand. So when considering medical supplies stocks to buy, it's important that you have access to vital information about a company's financial health, leadership team, and market positioning.

Our picks for platforms with research tools

How to invest in medical supplies stocks

1. Choose an online stock trading platform. Choose from our Top Picks above, use our comparison table below or jump straight to the best stock trading apps in Canada.
2. Sign up for an account. Provide your personal information and sign up.
3. Set up a funding method to pay for the transaction. Deposit funds into your account by linking your banking information.
4. Choose the stocks you want to buy. Search for the stock by name or ticker symbol like COO or BAX.
5. Place your order. Buy the stock. It's that simple.

Learn more about popular medical supplies stocks

We round up a selection of stocks in or related to the health industry, weighting the list more heavily towards popular mid- and large-cap US stocks.

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1. The Cooper Companies IncCommon Stock (COO)

The Cooper Companies, Inc. , together with its subsidiaries, develops, manufactures, and markets contact lens wearers. The company operates in two segments, CooperVision and CooperSurgical.

• Previous close price: $99.91
• Market capitalization: $19,887,718,400
• 1 year performance: -70.36%
• P/E ratio: 56.7386

Buy COO stock on Interactive Brokers

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2. Baxter International (BAX)

Baxter International Inc. , through its subsidiaries, develops and provides a portfolio of healthcare products worldwide. The company operates through four segments: Medical Products and Therapies, Healthcare Systems and Technologies, Pharmaceuticals, and Kidney Care.

• Previous close price: $32.99
• Market capitalization: $16,185,639,936
• 1 year performance: -6.97%
• P/E ratio: 70.4445

Buy BAX stock on Interactive Brokers

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3. Hologic (HOLX)

Hologic, Inc. develops, manufactures, and supplies diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment. The company operates through four segments: Diagnostics, Breast Health, GYN Surgical, and Skeletal Health.

• Previous close price: $78.72
• Market capitalization: $18,284,451,840
• 1 year performance: 9.53%
• P/E ratio: 23.7108

Buy HOLX stock on Interactive Brokers

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4. Dentsply Sirona (XRAY)

DENTSPLY SIRONA Inc. manufactures and sells various dental products and technologies worldwide. It operates in four segments: Connected Technology Solutions, Essential Dental Solutions, Orthodontic and Implant Solutions, and Wellspect Healthcare.

• Previous close price: $18.64
• Market capitalization: $3,552,198,656
• 1 year performance: -37.22%

Buy XRAY stock on Interactive Brokers

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5. Teleflex Incorporated (TFX)

Teleflex Incorporated designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company provides vascular access products that comprise Arrow branded catheters, catheter navigation and tip positioning systems, and intraosseous access systems for the administration of intravenous therapies, the measurement of blood pressure, and the withdrawal of blood samples through a single puncture site. It also offers interventional products, which consists of various coronary catheters, structural heart support devices, and peripheral intervention and mechanical circulatory support platform that are used by interventional cardiologists and radiologists, and vascular surgeons; and Arrow branded pumps and catheters, Guideline, Turnpike, and Trapliner catheters, the Manta Vascular Closure, and Arrow Oncontrol devices.

• Previous close price: $190.64
• Market capitalization: $8,860,528,640
• 1 year performance: -10.41%
• P/E ratio: 38.4637

Buy TFX stock on Interactive Brokers

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6. ResMed (RMD)

ResMed Inc. develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.

• Previous close price: $243.60
• Market capitalization: $35,759,505,408
• 1 year performance: 63.56%
• P/E ratio: 32.2649

Buy RMD stock on Interactive Brokers

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7. Intuitive Surgical (ISRG)

Intuitive Surgical, Inc. develops, manufactures, and markets products that enable physicians and healthcare providers to enhance the quality of and access to minimally invasive care in the United States and internationally. The company offers the da Vinci Surgical System that enables complex surgery using a minimally invasive approach; and Ion endoluminal system, which extends its commercial offerings beyond surgery into diagnostic procedures enabling minimally invasive biopsies in the lung.

• Previous close price: $550.62
• Market capitalization: $196,119,281,664
• 1 year performance: 80.37%
• P/E ratio: 88.5241

Buy ISRG stock on Interactive Brokers

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8. Alcon (ALC)

Alcon Inc. researches, develops, manufactures, distributes, and sells eye care products for eye care professionals and their patients worldwide. The company's Surgical segment offers equipment, instrumentation and diagnostics, intraocular lenses (IOLs), and other implantables; and consumables, including viscoelastics, surgical solutions, incisional instruments, surgical custom packs, and other products for surgical procedures.

• Previous close price: $85.57
• Market capitalization: $42,479,685,632
• 1 year performance: 21.27%
• P/E ratio: 36.5684

Buy ALC stock on Interactive Brokers

Buy medical supplies stocks from these online trading platforms

Compare special offers, low fees and a wide range of investment options among top trading platforms.

Note: The dollar amounts in the table below are in Canadian dollars.

Bottom line

While it's possible to turn a profit investing in medical supplies stocks, keep in mind that—like any investment—medical supplies stocks are not immune to risk. These stocks are subject to fluctuating conditions both in the market and in the health industry, so carefully vet your picks before you invest. If you're new to investing or if it's been a while since you've taken a critical look at your investment accounts, compare brokers to make sure you're getting the best trading features for your needs.

Related: How to buy stocks in Canada

Disclaimer: This information should not be interpreted as an endorsement of futures, stocks, ETFs, options or any specific provider, service or offering. It should not be relied upon as investment advice or construed as providing recommendations of any kind. Futures, stocks, ETFs and options trading involves substantial risk of loss and therefore are not appropriate for all investors. Trading forex on leverage comes with a higher risk of losing money rapidly. Past performance is not an indication of future results. Consider your own circumstances, and obtain your own advice, before making any trades.