Medical Device Stocks
Top 10 of 48 IHI holdings, updated
As of 12 October 2026, medical device stocks have turned up: behind the S&P 500 over the longer run, but ahead over the past month. IHI beats the S&P 500 by 1.9 points over one month and ranks #13 of 115 groups Zensei tracks. 17 of the 48 medical device stocks Zensei prices in IHI beat the fund this month.
Where medical device stocks stand now
As of 12 October 2026, Medical Devices (IHI) ranks #13 of the 115 groups Zensei tracks by one-month return against the S&P 500. It has just turned the corner. Over the longer, time-shifted window it trailed the S&P 500 by 2.9 points, but over the past month it has moved clearly ahead of the market — a 1.9-point edge that puts it in the Emerging quadrant.
On the shorter tape, IHI's momentum reads strong: the recent hourly trend is positive across every lookback Zensei measures. IHI's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. That tension — a firm short-term tape against a damaged longer trend — is usually resolved within a few weeks, one way or the other.
The exposure comes via iShares U.S. Medical Devices ETF, whose 48 tracked holdings are led by Abbott Laboratories, Intuitive Surgical Inc and Medtronic PLC. Weighted by portfolio, the fund's holdings trade at roughly 28.7× earnings. The thing to watch from here is confirmation: emerging groups that hold a positive one-month spread long enough for the longer window to turn are the classic early-rotation entries — the ones that fail fall back quickly.
Top medical device stocks right now
The largest medical device stocks by weight in IHI, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of IHI
- 1Abbott LaboratoriesABT17.7%
- 2Intuitive Surgical IncISRG14.9%
- 3Medtronic PLCMDT11.6%
- 4Stryker CorpSYK4.6%
- 5Edwards Lifesciences CorpEW4.5%
Strongest this month
1-month return, holdings Zensei prices
- 1Kestra Medical Technologies LtdKMTS+17.8%
- 2Butterfly Network IncBFLY+16.7%
- 3Intuitive Surgical IncISRG+15.8%
- 4Quidelortho CorpQDEL+12.5%
- 5Omnicell IncOMCL+12.4%
Medical Device Stocks vs the S&P 500
Over the week to 12 October 2026, IHI rose 2.4% while the S&P 500 rose 0.4%. IHI and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means IHI won that window.
Prices as of · computed from daily adjusted closes · how we measure
Medical Devices on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are medical device stocks expensive?
The price-to-earnings ratio of IHI as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
IHI holdings: the medical device stocks inside
As of 12 October 2026, 17 of the 48 medical device stocks Zensei prices in IHI beat the fund over the past month. 24 of them beat the S&P 500. The strongest is Kestra Medical Technologies Ltd (KMTS); the weakest is Angiodynamics Inc (ANGO). Inside the fund, the holdings split between winners and losers.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | ABTAbbott Laboratories | 17.7% | −0.1% | +11.3% | −4.1 pts | Weak | Broken |
| 2 | ISRGIntuitive Surgical Inc | 14.9% | +15.8% | +5.0% | +11.9 pts | Strong | Strong |
| 3 | MDTMedtronic PLC | 11.6% | +1.8% | +10.8% | −2.2 pts | Weak | Strong |
| 4 | SYKStryker Corp | 4.6% | +2.9% | −14.5% | |||
| 5 | EWEdwards Lifesciences Corp | 4.5% | +2.4% | −5.9% | |||
| 6 | BDXBecton Dickinson & Co | 4.5% | +6.2% | +23.5% | |||
| 7 | IDXXIdexx Laboratories Inc | 4.5% | +3.8% | −7.1% | |||
| 8 | RMDResmed Inc | 4.5% | +7.5% | +18.5% | |||
| 9 | DXCMDexcom Inc | 4.4% | +3.5% | +12.5% | |||
| 10 | BSXBoston Scientific Corp | 4.3% | +2.0% | −1.8% |
All 48 IHI holdings by weight: Abbott Laboratories (ABT) 17.7%, Intuitive Surgical Inc (ISRG) 14.9%, Medtronic PLC (MDT) 11.6%, Stryker Corp (SYK) 4.6%, Edwards Lifesciences Corp (EW) 4.5%, Becton Dickinson & Co (BDX) 4.5%, Idexx Laboratories Inc (IDXX) 4.5%, Resmed Inc (RMD) 4.5%, Dexcom Inc (DXCM) 4.4%, Boston Scientific Corp (BSX) 4.3%, Ge Healthcare Technologies Inc (GEHC) 4.1%, Steris PLC (STE) 2.9%, Zimmer Biomet Holdings Inc (ZBH) 2.4%, Baxter International Inc (BAX) 1.8%, Penumbra Inc (PEN) 1.8%, Glaukos Corp (GKOS) 1.3%, Insulet Corp (PODD) 1.3%, Globus Medical Inc (GMED) 1.2%, Teleflex Inc (TFX) 0.7%, Integer Holdings Corp (ITGR) 0.6%, Livanova PLC (LIVN) 0.6%, Envista Holdings Corp (NVST) 0.5%, Irhythm Holdings Inc (IRTC) 0.5%, Transmedics Group Inc (TMDX) 0.4%, Atricure Inc (ATRC) 0.4%, Axogen Inc (AXGN) 0.3%, Inspire Medical Systems Inc (INSP) 0.3%, Butterfly Network Inc (BFLY) 0.3%, Lemaitre Vascular Inc (LMAT) 0.2%, Novocure Ltd (NVCR) 0.2%, Omnicell Inc (OMCL) 0.2%, Conmed Corp (CNMD) 0.2%, Alphatec Holdings Inc (ATEC) 0.2%, Tandem Diabetes Care Inc (TNDM) 0.2%, Enovis Corp (ENOV) 0.1%, Artivion Inc (AORT) 0.1%, Procept Biorobotics Corp (PRCT) 0.1%, Pulse Biosciences Inc (PLSE) 0.1%, Kestra Medical Technologies Ltd (KMTS) 0.1%, Beta Bionics Inc (BBNX) 0.1%, Si-Bone Inc (SIBN) 0.1%, Quidelortho Corp (QDEL) 0.1%, Integra Lifesciences Holdings Corp (IART) 0.1%, Varex Imaging Corp (VREX) 0.1%, Iradimed Corp (IRMD) 0.1%, Ceribell Inc (CBLL) 0.1%, Angiodynamics Inc (ANGO) 0.1%, Orthofix Medical Inc (OFIX) 0.1%.
Medical Device Stocks: common questions
What are the top 3 medical device stocks?
As of 12 October 2026, the three largest medical device stocks in IHI by fund weight are Abbott Laboratories (ABT) (17.7%), Intuitive Surgical Inc (ISRG) (14.9%) and Medtronic PLC (MDT) (11.6%). Fund weight shows size inside the fund, not a recommendation.
Which medical device stocks are beating the sector?
As of 12 October 2026, 17 of the 48 medical device stocks Zensei prices in IHI beat the fund over the past month. The strongest over the past month is Kestra Medical Technologies Ltd (KMTS). The list above shows every holding with its weight and returns.
Are medical device stocks outperforming the S&P 500?
Yes. As of 12 October 2026, IHI has beaten the S&P 500 by 1.9 points over the past month.
Is it a good time to invest in medical device stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, medical device stocks are behind the S&P 500 over the longer window but ahead over the past month, an early turn. The rotation map and the read on this page show whether that trend is building or fading.
What is IHI?
IHI is iShares U.S. Medical Devices ETF. Zensei uses it to measure medical device stocks against the S&P 500 (SPY).
What stocks does IHI own?
As of 12 October 2026, the largest of the 48 positions Zensei tracks in IHI are Abbott Laboratories, Intuitive Surgical Inc, Medtronic PLC, Stryker Corp, Edwards Lifesciences Corp. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is medical devices in right now?
As of 12 October 2026, medical devices is in the Emerging quadrant — behind the market over the longer window, but ahead over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·Trailing the market → gaining ground
- ·Losing ground → trailing the market
- ·Trailing the market → losing ground
- ·Losing ground → trailing the market
- ·First tracked: losing ground
Related sectors
Track medical devices against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.