INMD - Better Buy: InMode or Medtronic?
Medical stocks, in general, make good long-term investments; the U.S. national spending on healthcare is expected to keep growing because of an aging population. The level of spending on healthcare as a percentage of the U.S. Gross Domestic Product (GDP) has risen from 5.27% in 1962 to 19.7% by 2020.
Within that sector, medical device companies have a trickier path than pharmaceutical and biotech stocks because their products generally have a short shelf life due to the pace of innovation in medical devices. On top of that, margins are often tighter for medical device companies.
Though vastly different in size and scope, InMode (NASDAQ: INMD) and Medtronic (NYSE: MDT) operate as medical device manufacturers, with one of them being a better buy right now.
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Better Buy: InMode or Medtronic?