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3 Best Medical Device Penny Stocks to Watch Out for in 2024

3 Best Medical Device Penny Stocks to Watch Out for in 2024
Bogdan Stojkov

Summary: This comprehensive guide will introduce you with some of the best medical device penny stocks out there. A convenient way to invest in these promising stocks is through a reputable brokerage platform, such as eToro.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

What are medical device penny stocks?

Medical device penny stocks represent shares of smaller companies within the healthcare sector that specialize in developing and manufacturing medical devices. These devices can range from innovative surgical instruments to cutting-edge diagnostic tools, offering solutions to various healthcare challenges.

Unlike established companies, penny stocks are typically characterized by their low market capitalization and share price, making them affordable for many investors. However, it’s important to note that investing in penny stocks involves higher risks due to their volatility and susceptibility to market fluctuations.


If you’re interested in other penny stocks in the medical industry, feel free to check out our other guides, including:

3 best medical device penny stocks to watch out for this year

After conducting thorough research, we’ve concluded that these three medical device penny stocks are well worth your attention:

  • Outset Medical, Inc. (NASDAQ: OM);
  • Cerus Corporation (NASDAQ: CERS);
  • Butterfly Network, Inc. (NYSE: BFLY).

Each of these medical device penny stocks is available on eToro.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

Outset Medical, Inc.

Outset Medical has garnered lots of attention for its commitment to revolutionizing the dialysis industry. The company’s flagship product, the Tablo Hemodialysis System, is designed to simplify and enhance the dialysis experience for patients and healthcare providers alike.

With a focus on user-friendly technology and improved patient outcomes, Outset Medical has positioned itself as a key player in the evolving landscape of renal care. Investors should, therefore, keep an eye on this company as the demand for innovative dialysis solutions continues to grow.

Outset Medical stock price today

Cerus Corporation

Cerus Corporation stands out in the medical device arena with its expertise in blood transfusion safety. The company’s Intercept Blood System is a groundbreaking technology that helps reduce the risk of transfusion-transmitted infections.

As the importance of blood safety gains prominence in the healthcare sector, Cerus Corporation’s innovative approach positions it as a promising investment. Hence, monitoring the company’s advancements and market performance could offer investors valuable insights into the evolving landscape of transfusion medicine.

Cerus Corporation stock price today

Butterfly Network, Inc.

Butterfly Network has made waves in the medical imaging sector with its innovative handheld ultrasound device, the Butterfly iQ. This portable and affordable imaging solution empowers healthcare professionals by providing real-time insights at the point of care.

As the demand for accessible and efficient diagnostic tools grows, Butterfly Network’s disruptive technology makes it a noteworthy candidate for investors seeking opportunities in the medical device penny stock space. So, stay tuned for developments in the company’s market presence and product advancements.

Butterfly Network stock price today

Where to buy medical device penny stocks

Investors looking to dive into medical device penny stocks have various options for purchasing these shares. Nevertheless, our go-to broker is eToro, a widely popular platform with over 30 million registered accounts and a host of solid features, such as:

  • Commission-free stock trading;
  • Access to over 2,000 stocks from 17 different exchanges;
  • The option to purchase fractional shares;
  • Charting tools;
  • A user-friendly platform that simplifies the trading experience.

Highly Rated Stock Trading & Investing Platform

  • Invest in 2,800+ stocks and other assets including 70+ cryptocurrencies and commodities.

  • 0% commission on buying stocks - buy in bulk or just a fraction from as little as $10.

  • Copy top-performing traders in real time, automatically.

  • Regulated by financial authorities including FCA and FINRA.

2.8 Million Users
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. eToro USA LLC does not offer CFDs, only real Crypto assets available. Don’t invest unless you’re prepared to lose all the money you invest.

For a more diversified approach to medical device stocks, consider exchange-traded funds (ETFs). They provide broader market exposure and potentially lower risk compared to investing in individual stocks. To gain deeper insights on this subject, we encourage you to explore our comprehensive guide on medical device ETFs.

Pros and cons of buying medical device penny stocks

Pros

Pros

  • Affordability: Medical device penny stocks often have lower share prices, allowing investors with smaller budgets to participate in the market;
  • Innovation potential: Many smaller medical device companies are at the forefront of innovation, providing investors with opportunities to support groundbreaking technologies;
  • Market agility: Penny stocks can experience rapid price movements, offering the potential for quick returns on investment.
Cons

Cons

  • High risk: Penny stocks are inherently riskier due to their lower market capitalization and susceptibility to market volatility;
  • Limited information: Smaller companies may not have as much publicly available information, making thorough research challenging;
  • Lack of liquidity: Some penny stocks may have lower trading volumes, leading to liquidity issues and difficulty selling shares at desired prices.

For the best medical device stocks, feel free to check out these guides:

Common mistakes to avoid when buying penny stocks

Failing to conduct thorough research on a medical device penny stock can lead to uninformed investment decisions and is one of the most common investing mistakes you can make. However, it’s not the only one, so it’s best to be wary of these pitfalls too:

  • Ignoring diversification: Relying solely on medical device penny stocks without diversifying your investment portfolio increases overall risk;
  • Chasing hype: Investing based on market rumors or short-term hype can result in poor decision-making and financial losses;
  • Overlooking fundamentals: Understanding the financial health and fundamentals of a company is crucial for long-term success in the stock market;
  • Neglecting risk management: Failing to set clear risk management strategies, including stop-loss orders, can expose investors to significant losses.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

FAQs about medical device penny stocks

What are penny stocks?

Penny stocks are shares of relatively small companies with low market capitalization and typically trade at a low price, often below $5 per share. These stocks are considered more volatile and carry higher risks compared to stocks of larger, more established companies. Due to their affordability, penny stocks can be attractive to investors looking for potential high returns, but they require careful consideration and research.

What are the 3 best medical device penny stocks right now?

As of now, three noteworthy medical device penny stocks to watch are Outset Medical (NASDAQ: OM), Cerus (NASDAQ: CERS), and Butterfly Network (NYSE: BFLY).

Are medical device penny stocks a good investment for beginners?

While the potential for high returns exists, medical device penny stocks are riskier and may not be suitable for beginners. It’s, therefore, essential to thoroughly research and understand the risks before investing.

How can I stay updated on my medical device penny stock investments?

Regularly monitor financial news, company press releases, and updates on industry trends. Also, utilize reputable financial news websites and platforms for real-time information.

What is the minimum investment required for medical device penny stocks?

The minimum investment varies based on the stock’s price and the investor’s budget. As such, it’s crucial to set a budget and diversify investments to manage risk effectively.

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