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In a shortened week of trading following the Memorial Day weekend, investors may want to take notice of several medical stocks that were added to the Zacks Rank #1 (Strong Buy) list today.

Standing out in terms of valuation with earnings estimates on the rise as well, here are three of these highly ranked medical stocks to consider.

Haemonetics HAE

Haemonetics is starting to stand out as a provider of blood management solutions to clients encompassing blood and plasma collectors, hospitals, and health care providers. Trading at 19.2X forward earnings, Haemonetics' is expected to post 15% EPS growth in its current fiscal 2025 with its bottom line projected to expand another 12% in FY26 to $5.11 per share.

Alluding to more short-term momentum in Haemonetics stock is that FY25 and FY26 earnings estimate revisions have spiked 7% and 5% in the last 30 days respectively. This comes as Haemonetics was able to exceed its fiscal fourth quarter top and bottom line expectations earlier in the month and has now posted three consecutive years of double-digit organic revenue growth in its hospitals segment while taking steps to accelerate inorganic growth through the recent acquisitions of medical device companies OpSens and Attune.

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Lantheus LNTH

In terms of radiopharmaceutical-focused companies, Lantheus continues to stand out with its diagnostics and oncology products enabling clinicians to deliver better patient outcomes. Seeing a significant spike on its top and bottom lines in recent years, Lantheus’ total sales are expected to rise 17% in FY24 to $1.52 billion with EPS projected to expand 14% to $7.11 per share.

More intriguing is that Lantheus’ P/E valuation of 11X looks cheap especially considering FY24 earnings estimates have spiked 8% over the last 30 days while FY25 EPS estimates have risen 3% from projections of $6.28 a share to $7.06 per share.

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Option Care Health OPCH

Rounding out the list, Option Care Health is worthy of investors' consideration as a provider of infusion and home care management solutions for gastrointestinal abnormalities, infectious diseases, cancer, heart failures, and blood disorders.

Option Care Health’s annual earnings are forecasted to dip -20% in FY24 to $1.19 a share but are forecasted to rebound and rise 15% to $1.38 per share next year. Furthermore, Option Care Health’s stock trades at a reasonable 24.4X forward earnings multiple and EPS estimates have continued to trend higher in the last two months for both FY24 and FY25.

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Bottom Line

Considering the stretched premiums many groundbreaking healthcare companies can command, these medical stocks are worthy of investors' interest given their attractive P/E valuations and the positive trend of earnings estimate revisions.

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Haemonetics Corporation (HAE) : Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.