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4 Large-Cap MedTech Stocks to Keep Winning Streaks Alive in 2026
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Key Takeaways
CAH is seeing momentum from cost discipline, pricing actions and improving volumes across its segments.
MDT is benefiting from cardiac ablation growth, raised guidance and pipeline advances.
ISRG and EW stand to gain from the rising adoption of robotic surgery and minimally invasive heart procedures.
The MedTech industry has shown resilience and steady growth through 2025 while navigating lingering supply-chain issues, regulatory complexities and the pace of technological change. Notably, the Dow Jones U.S. Select Medical Equipment Index has advanced about 8% in 2025, underscoring the sector’s ability to adapt, innovate and deliver consistent performance despite a challenging operating environment.
Factors Likely to Drive Growth for the MedTech Space in 2026
The MedTech industry is heading into 2026 with improving fundamentals after working through supply-chain disruptions, labor constraints and uneven hospital spending over the past few years. Procedure volumes are normalizing, elective surgery backlogs are easing and healthcare providers are increasingly prioritizing technologies that enhance clinical outcomes while improving operational efficiency. This environment favors large-cap MedTech companies with diversified portfolios, strong execution capabilities and the scale to translate innovation into consistent earnings growth.
A key growth driver in 2026 is likely to be the expanding role of artificial intelligence, software and data-driven solutions across the MedTech value chain. AI-enabled imaging, diagnostics, surgical planning tools and remote patient monitoring platforms are gaining wider clinical adoption, helping providers improve accuracy, productivity and care delivery. Per a report by Grand View Research, the global AI in healthcare market size was valued at $26.57 billion in 2024 and is projected to reach $505.59 billion by 2033, witnessing CAGR of 38.81% from 2025 to 2033.
Continued momentum in minimally invasive and robotics-assisted procedures should support MedTech growth, as demand for less-invasive treatments with faster recovery and lower cost of care rises amid aging demographics. Per a MarketsandMarkets report, the global minimally invasive surgery market was valued at $94.45 billion in 2025 and is projected to reach $199.3 billion by 2030, reflecting a strong 16.1% CAGR over the period. This trend positions large-cap MedTech players to benefit from higher procedure volumes, recurring consumables demand and improving hospital capital spending through 2026.
4 MedTech Giants Likely to Extend Their Rally Into 2026
Per a report by FMI, the MedTech market was valued at $549.51 billion in 2025 and is anticipated to reach $853.37 billion by 2035, registering CAGR of 4.5% over the forecast period. Against this backdrop, large-cap MedTech leaders Cardinal Health (CAH - Free Report) , Medtronic (MDT - Free Report) , Intuitive Surgical (ISRG - Free Report) and Edwards Lifesciences (EW - Free Report) appear well-positioned to sustain their winning momentum and extend their rally into 2026.
Cardinal Health is a leading healthcare services and products company that primarily distributes pharmaceuticals and medical supplies to hospitals, pharmacies and outpatient providers, while also expanding its presence in at-home solutions and specialty products. With a current market capitalization of around $48 billion, Cardinal Health remains one of the largest and most essential players in the MedTech and healthcare distribution space.
Looking ahead to 2026, CAH appears well-positioned to extend its growth momentum, supported by improving fundamentals across its Pharmaceutical and Medical segments. The company is benefiting from disciplined cost management, pricing actions and normalization of volumes following prior industry disruptions. Strength in specialty pharmaceutical distribution, expansion in at-home medical solutions and ongoing optimization initiatives should support margin recovery and cash flow generation.
Additionally, Cardinal Health’s scale, sticky customer relationships and essential role in healthcare delivery provide earnings stability, while continued execution on operational improvements positions the stock to deliver steady, investor-friendly growth as healthcare utilization trends remain favorable into 2026.
CAH’s earnings growth rate for fiscal 2026 is pegged at 19.7%. The stock has surged more than 71% in the year-to-date period. The Zacks Consensus Estimate for the company’s fiscal 2026 revenues indicates a year-over-year rise of 16.2%. CAH currently carries a Zacks Rank #2 (Buy). You can seethe complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Medtronic plc is a diversified global leader in medical technology, offering a broad portfolio of products spanning cardiovascular, diabetes, neuroscience, surgical technologies and respiratory & monitoring solutions. The company’s devices are used in hospitals, outpatient centers and physician offices worldwide, serving a wide range of chronic and acute health conditions. With a large installed base and recurring revenues from consumables, software and services, Medtronic sits among the largest MedTech names by market cap, supported by steady procedure demand and diversified end-market exposure.
Medtronic appears well-positioned for continued growth in 2026, underpinned by key product momentum and an updated corporate strategy. In its latest results, Medtronic reported a strong second-quarter fiscal 2026 performance with revenue up approximately 5.5% organically and raised guidance, powered by double-digit growth in cardiac ablation solutions and sustained strength in core cardiovascular and neuromodulation portfolios. The company is also advancing its pipeline with innovations such as pulsed field ablation (PFA) and the upcoming Hugo robotic surgery system — initiatives expected to broaden procedural reach and enhance long-term revenue streams. With improving margins, expanded guidance and solid cash flow, MDT’s diversified platform and growth initiatives position it to sustain momentum into 2026.
MDT stock has improved 23.5% in the year-to-date period. The Zacks Consensus Estimate for the company’s fiscal 2026 revenues indicates year-over-year uptick of 7.5%. MDT currently carries a Zacks Rank #2.
Intuitive Surgical is the undisputed leader in robotic-assisted minimally invasive surgery, best known for its flagship da Vinci Surgical System, which is deployed across thousands of hospitals globally to improve clinical outcomes and expand less-invasive procedure options. The company also offers the Ion platform for precision biopsy procedures, reinforcing its position in advanced surgical robotics with a growing installed base and recurring instrument and services revenue.
Intuitive remains poised for growth in 2026 as robotic surgery adoption continues to expand worldwide. Recent quarters have shown robust procedure and revenue growth, with the company beating expectations and raising procedure forecasts as healthcare providers increasingly adopt robotic systems to enhance precision and efficiency. Continued innovation in next-generation robotics, expanding clinical applications and a strong installed base position ISRG to benefit from long-term secular trends toward minimally invasive surgery. Despite near-term cost pressures such as tariffs, the broader demand for robotic systems and services supports sustained growth as surgical robotics becomes more entrenched in standard care pathways.
ISRG’s earnings growth rate for 2026 is pegged at 11.2%. The stock has witnessed growth of 9.7% in the year-to-date period. The Zacks Consensus Estimate for the company’s 2026 revenues indicates a year-over-year rise of 14.3%. ISRG currently sports a Zacks Rank #1.
Edwards Lifesciences is a MedTech leader focused on structural heart disease and critical care technologies, with its core strength in transcatheter aortic valve replacement (TAVR) and surgical heart valve systems that offer less-invasive alternatives to open-heart surgery. Headquartered in Irvine, California, Edwards has built a strong reputation in hemodynamic monitoring, heart valve therapy and related interventional products, serving a global patient population with complex cardiovascular needs.
Looking toward 2026, Edwards is positioned to continue benefiting from secular trends in structural heart care, particularly as TAVR procedures become more widely adopted and patient populations grow. The company has reaffirmed solid sales and earnings growth expectations and plans to invest in adjacent technologies and R&D to broaden its portfolio. With favorable cardiac procedure dynamics, a strong market position in high-growth valve therapies and a bullish analyst consensus targeting further stock upside, EW is well-set to carry its momentum forward as cardiovascular care innovation remains a priority for health systems worldwide.
EW’s earnings growth rate for 2026 is estimated at 10.4%. The stock has improved more than 15% in the year-to-date period. The Zacks Consensus Estimate for EW’s 2026 revenues indicates a year-over-year rise of 9.6%. EW currently carries a Zacks Rank #3 (Hold).
Image: Bigstock
4 Large-Cap MedTech Stocks to Keep Winning Streaks Alive in 2026
Key Takeaways
The MedTech industry has shown resilience and steady growth through 2025 while navigating lingering supply-chain issues, regulatory complexities and the pace of technological change. Notably, the Dow Jones U.S. Select Medical Equipment Index has advanced about 8% in 2025, underscoring the sector’s ability to adapt, innovate and deliver consistent performance despite a challenging operating environment.
Factors Likely to Drive Growth for the MedTech Space in 2026
The MedTech industry is heading into 2026 with improving fundamentals after working through supply-chain disruptions, labor constraints and uneven hospital spending over the past few years. Procedure volumes are normalizing, elective surgery backlogs are easing and healthcare providers are increasingly prioritizing technologies that enhance clinical outcomes while improving operational efficiency. This environment favors large-cap MedTech companies with diversified portfolios, strong execution capabilities and the scale to translate innovation into consistent earnings growth.
A key growth driver in 2026 is likely to be the expanding role of artificial intelligence, software and data-driven solutions across the MedTech value chain. AI-enabled imaging, diagnostics, surgical planning tools and remote patient monitoring platforms are gaining wider clinical adoption, helping providers improve accuracy, productivity and care delivery. Per a report by Grand View Research, the global AI in healthcare market size was valued at $26.57 billion in 2024 and is projected to reach $505.59 billion by 2033, witnessing CAGR of 38.81% from 2025 to 2033.
Continued momentum in minimally invasive and robotics-assisted procedures should support MedTech growth, as demand for less-invasive treatments with faster recovery and lower cost of care rises amid aging demographics. Per a MarketsandMarkets report, the global minimally invasive surgery market was valued at $94.45 billion in 2025 and is projected to reach $199.3 billion by 2030, reflecting a strong 16.1% CAGR over the period. This trend positions large-cap MedTech players to benefit from higher procedure volumes, recurring consumables demand and improving hospital capital spending through 2026.
4 MedTech Giants Likely to Extend Their Rally Into 2026
Per a report by FMI, the MedTech market was valued at $549.51 billion in 2025 and is anticipated to reach $853.37 billion by 2035, registering CAGR of 4.5% over the forecast period. Against this backdrop, large-cap MedTech leaders Cardinal Health (CAH - Free Report) , Medtronic (MDT - Free Report) , Intuitive Surgical (ISRG - Free Report) and Edwards Lifesciences (EW - Free Report) appear well-positioned to sustain their winning momentum and extend their rally into 2026.
Cardinal Health is a leading healthcare services and products company that primarily distributes pharmaceuticals and medical supplies to hospitals, pharmacies and outpatient providers, while also expanding its presence in at-home solutions and specialty products. With a current market capitalization of around $48 billion, Cardinal Health remains one of the largest and most essential players in the MedTech and healthcare distribution space.
Looking ahead to 2026, CAH appears well-positioned to extend its growth momentum, supported by improving fundamentals across its Pharmaceutical and Medical segments. The company is benefiting from disciplined cost management, pricing actions and normalization of volumes following prior industry disruptions. Strength in specialty pharmaceutical distribution, expansion in at-home medical solutions and ongoing optimization initiatives should support margin recovery and cash flow generation.
Additionally, Cardinal Health’s scale, sticky customer relationships and essential role in healthcare delivery provide earnings stability, while continued execution on operational improvements positions the stock to deliver steady, investor-friendly growth as healthcare utilization trends remain favorable into 2026.
CAH’s earnings growth rate for fiscal 2026 is pegged at 19.7%. The stock has surged more than 71% in the year-to-date period. The Zacks Consensus Estimate for the company’s fiscal 2026 revenues indicates a year-over-year rise of 16.2%. CAH currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cardinal Health, Inc. Price
Cardinal Health, Inc. price | Cardinal Health, Inc. Quote
Medtronic plc is a diversified global leader in medical technology, offering a broad portfolio of products spanning cardiovascular, diabetes, neuroscience, surgical technologies and respiratory & monitoring solutions. The company’s devices are used in hospitals, outpatient centers and physician offices worldwide, serving a wide range of chronic and acute health conditions. With a large installed base and recurring revenues from consumables, software and services, Medtronic sits among the largest MedTech names by market cap, supported by steady procedure demand and diversified end-market exposure.
Medtronic appears well-positioned for continued growth in 2026, underpinned by key product momentum and an updated corporate strategy. In its latest results, Medtronic reported a strong second-quarter fiscal 2026 performance with revenue up approximately 5.5% organically and raised guidance, powered by double-digit growth in cardiac ablation solutions and sustained strength in core cardiovascular and neuromodulation portfolios. The company is also advancing its pipeline with innovations such as pulsed field ablation (PFA) and the upcoming Hugo robotic surgery system — initiatives expected to broaden procedural reach and enhance long-term revenue streams. With improving margins, expanded guidance and solid cash flow, MDT’s diversified platform and growth initiatives position it to sustain momentum into 2026.
MDT stock has improved 23.5% in the year-to-date period. The Zacks Consensus Estimate for the company’s fiscal 2026 revenues indicates year-over-year uptick of 7.5%. MDT currently carries a Zacks Rank #2.
Medtronic PLC Price
Medtronic PLC price | Medtronic PLC Quote
Intuitive Surgical is the undisputed leader in robotic-assisted minimally invasive surgery, best known for its flagship da Vinci Surgical System, which is deployed across thousands of hospitals globally to improve clinical outcomes and expand less-invasive procedure options. The company also offers the Ion platform for precision biopsy procedures, reinforcing its position in advanced surgical robotics with a growing installed base and recurring instrument and services revenue.
Intuitive remains poised for growth in 2026 as robotic surgery adoption continues to expand worldwide. Recent quarters have shown robust procedure and revenue growth, with the company beating expectations and raising procedure forecasts as healthcare providers increasingly adopt robotic systems to enhance precision and efficiency. Continued innovation in next-generation robotics, expanding clinical applications and a strong installed base position ISRG to benefit from long-term secular trends toward minimally invasive surgery. Despite near-term cost pressures such as tariffs, the broader demand for robotic systems and services supports sustained growth as surgical robotics becomes more entrenched in standard care pathways.
ISRG’s earnings growth rate for 2026 is pegged at 11.2%. The stock has witnessed growth of 9.7% in the year-to-date period. The Zacks Consensus Estimate for the company’s 2026 revenues indicates a year-over-year rise of 14.3%. ISRG currently sports a Zacks Rank #1.
Intuitive Surgical, Inc. Price
Intuitive Surgical, Inc. price | Intuitive Surgical, Inc. Quote
Edwards Lifesciences is a MedTech leader focused on structural heart disease and critical care technologies, with its core strength in transcatheter aortic valve replacement (TAVR) and surgical heart valve systems that offer less-invasive alternatives to open-heart surgery. Headquartered in Irvine, California, Edwards has built a strong reputation in hemodynamic monitoring, heart valve therapy and related interventional products, serving a global patient population with complex cardiovascular needs.
Looking toward 2026, Edwards is positioned to continue benefiting from secular trends in structural heart care, particularly as TAVR procedures become more widely adopted and patient populations grow. The company has reaffirmed solid sales and earnings growth expectations and plans to invest in adjacent technologies and R&D to broaden its portfolio. With favorable cardiac procedure dynamics, a strong market position in high-growth valve therapies and a bullish analyst consensus targeting further stock upside, EW is well-set to carry its momentum forward as cardiovascular care innovation remains a priority for health systems worldwide.
EW’s earnings growth rate for 2026 is estimated at 10.4%. The stock has improved more than 15% in the year-to-date period. The Zacks Consensus Estimate for EW’s 2026 revenues indicates a year-over-year rise of 9.6%. EW currently carries a Zacks Rank #3 (Hold).
Edwards Lifesciences Corporation Price
Edwards Lifesciences Corporation price | Edwards Lifesciences Corporation Quote