Even though the biotech sector's coronavirus vaccine efforts have dominated the 2020 news cycle, those stocks don't always beat the market. When it comes to consistent profitability, long-term growth, large competitive moats, and innovation, medical device companies can provide better returns in the long run. In particular, DexCom (NASDAQ: DXCM) , Medtronic (NYSE: MDT) , and Abiomed (NASDAQ: ABMD) have beaten the NASDAQ Biotechnology Index handily over the last five years.
And, while they may not have had triple or quadruple-digit gains this year like a few of the coronavirus vaccine stocks out there, they still have plenty of room to grow. Furthermore, there are upcoming catalysts for growth that are worth keeping a close eye on.
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These 3 Medical Device Stocks Leave Biotech in the Dust