BMO names Intuitive Surgical, Globus Medical, Teleflex as top MedTech picks

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Summary · why it matters

BMO Capital Markets has named Intuitive Surgical, Globus Medical, and Teleflex as its highest-conviction picks in the medical technology sector, initiating coverage with Outperform ratings and calling the beaten-down group a buying opportunity. Analyst Vik Chopra noted that MedTech stocks trade roughly 31% below their 10-year relative average, approaching the widest discount to the S&P 500 in a decade, while demand for hospital procedures remains strong. He attributed the weakness to fund flows and policy noise rather than fundamentals, describing the sector as under-owned and under-appreciated with the marginal buyer absent. Intuitive Surgical, his top pick, trades at about a 31% discount to its three-year historical multiple despite having the strongest fundamental profile among peers. Globus Medical was highlighted for sector-leading margin growth partly driven by its Nevro acquisition, and Teleflex was cited for a 2027 earnings inflection not yet reflected in consensus. Price targets were set at $518 for Intuitive Surgical, $94 for Globus Medical, and $159 for Teleflex.

Impact on assets 14

Robotics & Physical AI▲ · 5 stocks
Globus Medical
GMED
▲ PositiveCapitalrelevance

BMO initiated coverage with Outperform rating and $94 price target, citing sector-leading margin growth and Nevro acquisition.

Intuitive Surgical Inc
ISRG
▲ PositiveCapitalrelevance

BMO named Intuitive Surgical as top pick with Outperform rating and $518 price target, noting it trades at a 31% discount to historical multiple despite strong fundamentals.

Aging Population▲ · 5 stocks
Health Care▲ · 2 stocks
Teleflex Incorporated
TFX
▲ PositiveCapitalrelevance

BMO initiated coverage with Outperform rating and $159 price target, citing a 2027 earnings inflection not yet reflected in consensus.

Biotech & Genomic Medicine▲ · 2 stocks
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