These 3 Medical Device Stocks Leave Biotech in the Dust

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.