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In addition, the integration of advanced technologies like artificial intelligence (AI), 3D printing, and the development of other smart gadgets are positioning the industry for long-term growth. The global medical devices market is projected to grow at a 5.4% CAGR to $657.98 billion in 2028. And several companies are focusing on R&D to develop advanced devices to capitalize on the growing market.
Given this backdrop, we think recently upgraded medical devices stocks, Edwards Lifesciences Corporation (NYSE:EW) and Integra LifeSciences Holdings Corporation (IART), could be solid additions to one’s portfolio now. Last week, JPMorgan analyst Robbie Marcus upgraded EW from Neutral to Overweight with a price target of $140.00. And research analysts at JPMorgan Chase (NYSE:JPM) & Co. upgraded IART from an underweight rating to a neutral rating.
