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3 Medical Equipment Stocks Under $10 to Buy Now By StockNews

3 Medical Equipment Stocks Under $10 to Buy Now © Reuters. 3 Medical Equipment Stocks Under $10 to Buy Now

The medical equipment industry was hit hard when the treatment of COVID-19 cases became a priority for hospitals last year. However, the industry is mounting a solid recovery this year, with patients rescheduling their medical procedures. So, we think it could be wise to bet now on quality medical equipment stocks Conformis (CFMS), Harvard Bioscience (NASDAQ:HBIO), and Accuray (NASDAQ:ARAY), which are currently trading at affordable prices. Read on.Even though the resurgence of COVID-19 cases is causing widespread concern, many patients are now rescheduling their non-COVID-19 medical procedures thanks to solid progress on the vaccination front. This is driving an increase in demand for medical equipment. In addition, the rising prevalence of chronic diseases and an emphasis on early diagnosis and treatment are contributing to the industry’s recovery.

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.

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