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Investors’ interest in the industry is evidenced by the SPDR S&P Health Care Equipment ETF’s (XHE) 5.6% gains over the past month, versus the SPDR S&P 500 Trust ETF’s (SPY) marginal returns. Furthermore, the industry is expected to grow exponentially due to the integration of advanced technologies. According to a Research and Markets report, the global medical device market will reach $745 billion by 2030.
So, it could be wise to scoop up the shares of fundamentally strong medical equipment companies Conformis, Inc. (CFMS), Harvard Bioscience, Inc. (HBIO), and Accuray Incorporated (ARAY). These stocks are currently trading at less than $10 per share.
