3 High-Tech Healthcare Stocks to Buy Now Adding shares of companies that are disrupting the industry and are nicely poised to outperform over the long term could be a very prudent move, which...

By Sean Sechler

This story originally appeared on MarketBeat

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Companies that are successfully combining healthcare and technology should be at the top of investors' shopping lists at this time, particularly given the way that the medical tech industry is expected to grow going forward. With the global pandemic forcing healthcare providers to adopt new tools and an aging global population driving demand for groundbreaking treatments, there are plenty of attractive opportunities for investors to explore with healthcare technology stocks.

Things are moving very quickly in terms of how the healthcare industry is changing, and getting in tune with the businesses that are driving innovation could lead to strong performance for your portfolio. Adding shares of companies that are disrupting the industry and are nicely poised to outperform over the long term could be a very prudent move, which is why we've prepared the following list of 3 high-tech healthcare stocks to buy now. Let's take a deeper look below.

Intuitive Surgical (NASDAQ: ISRG)

When it comes to surgery, human error has long been a factor for patients to consider before they go under the knife. That could be changing quickly thanks to Intuitive Surgical and its innovative technology. This company has developed a fascinating robotic surgical system called da Vinci that enables surgeons to perform a wide range of surgical procedures with more speed and accuracy. According to the company's website, Intuitive Surgical's goal is to make surgery more effective, less invasive, and easier on surgeons, patients, and their families, which is a cause that is definitely worth supporting.

The stock has been a very strong performer in 2021 and has rallied over 24% year-to-date. The company just reported Q2 earnings that let investors know da Vinci procedures are picking up again all over the world, which is great to see after elective procedure volumes were impacted by the pandemic. In Q2, the company saw worldwide da Vinci procedures increase by 68% year-over-year and shipped 328 da Vinci Surgical Systems, up 84% year-over-year. Q2 revenue also came in at an impressive $1.46 billion, up 72% year-over-year. Finally, the company just announced a three-for-one stock split that could attract more investors going forward.

Edwards Lifesciences Corp (NYSE: EW)

Did you know that cardiovascular disease is the number one cause of death in the world? That's a big reason to consider adding shares of Edwards Lifesciences, as the company is a global leader in medical innovations for structural heart disease and critical care monitoring. The company's heart valve systems and repair products help to save lives all over the world and are widely considered to be the gold standard in the medical community. We mentioned earlier that as the world's population ages, the demand for cutting-edge medical devices that can be used to treat serious conditions will increase. That means Edwards Lifesciences is nicely positioned for growth over the next decade and beyond.

The company saw a sharp drop off in sales last year due to COVID-19 disruptions, but business seems to be rebounding nicely this year as vaccines give people the confidence to pursue these types of procedures again. Edwards Lifesciences reported sales growth of 49% to $1.4 billion in Q2 and raised its 2021 sales guidance to $5.2 billion to $5.4 billion, which should give investors added confidence in the company going forward. With a strong balance sheet, steady spending on R&D, and products that make a positive impact in the lives of heart patients around the world, this high-tech healthcare stock would be a great addition to any long-term portfolio.

Medtronic (NYSE: MDT)

Another quality name that is at the forefront of healthcare innovation is Medtronic, which is one of the largest medical device companies in the world. The company has a dominant market share in areas like core heart devices, spinal products, insulin pumps, and neuromodulators which certainly makes it an attractive pick in this space. Investors should also be intrigued by Medtronic's robust pipeline of new products could lead to an even stronger position in the medical devices space. The company plans to launch new products like Micra AV, a renal denervation program, along with the Hugo robotic-assisted surgery platform, that could be big growth drivers going forward.

Medtronic is also worth a look at this time as elective procedures start to tick back up, which will translate directly to more revenue for the company. Income investors will love this stock as well since Medtronic offers investors a 1.97% dividend yield and is a dividend aristocrat with 43 consecutive years of dividend growth. Finally, the company just announced that it has entered a definitive agreement to acquire sinus implant maker Intersect ENT for $1.1 billion. The acquisition strengthens Medtronic's exposure to ear, nose, and throat medical devices and should be viewed as a positive given how it improves the company's product portfolio.
Wavy Line

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