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Do you value the buying trends of smart money institutional investors? We ran a screen with this idea in mind.

We screened the medical device industry of the healthcare sector for stocks with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform in the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall (www.kapitall.com).

Do you think these stocks will outperform like hedge funds expect? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases as a percentage of share float.

1. Abiomed Inc. (ABMD): Engages in the research, development, and sale of medical devices that provide circulatory support to acute heart failure patients across the continuum of care in heart recovery. Market cap at $811.16M, most recent closing price at $20.52. Net institutional purchases in the current quarter at 6.1M shares, which represents about 18.08% of the company's float of 33.73M shares.

2. Cardiovascular Systems Inc. (CSII): Focuses on developing and commercializing interventional treatment systems for vascular disease. Market cap at $144.36M, most recent closing price at $8.90. Net institutional purchases in the current quarter at 2.2M shares, which represents about 14.65% of the company's float of 15.02M shares.

3. Rockwell Medical Technologies Inc. (RMTI): Distributes hemodialysis concentrate solutions and dialysis kits primarily in the United States, Latin America, Asia, and Europe. Market cap at $172.29M, most recent closing price at $8.10. Net institutional purchases in the current quarter at 1.8M shares, which represents about 10.42% of the company's float of 17.27M shares.

4. Cynosure, Inc. (CYNO): Develops, manufactures, and markets aesthetic treatment systems to the dermatology, plastic surgery, and general medical markets. Market cap at $334.37M, most recent closing price at $25.80. Net institutional purchases in the current quarter at 677.0K shares, which represents about 8.92% of the company's float of 7.59M shares.

5. Integra LifeSciences Holdings Corporation (IART): Develops, manufactures, and markets surgical implants and medical instruments for neurosurgery, extremity reconstruction, orthopedics, and general surgery. Market cap at $1.07B, most recent closing price at $39.68. Net institutional purchases in the current quarter at 1.6M shares, which represents about 7.74% of the company's float of 20.68M shares.

6. Unilife Corporation (UNIS): Market cap at $164.83M, most recent closing price at $3.01. Net institutional purchases in the current quarter at 4.5M shares, which represents about 6.98% of the company's float of 64.45M shares.

7. Accuray Incorporated (ARAY): Designs, develops, and sells the CyberKnife system, an image-guided robotic radiosurgery system used for the treatment of solid tumors. Market cap at $469.87M, most recent closing price at $6.59. Net institutional purchases in the current quarter at 3.6M shares, which represents about 6.29% of the company's float of 57.25M shares.

8. Mindray Medical International Limited (MR): Through its subsidiary, Shenzhen Mindray Bio-Medical Electronics Co., Ltd., develops, manufactures, and markets medical devices worldwide. Market cap at $4.2B, most recent closing price at $35.60. Net institutional purchases in the current quarter at 5.2M shares, which represents about 6.23% of the company's float of 83.48M shares.

9. Tornier N.V. (TRNX): Operates as a medical device company that designs, manufactures, and markets devices for joint replacement and soft tissue repair that enable surgical specialists to improve patients' lives by restoring motion and physical vitality. Market cap at $736.61M, most recent closing price at $18.62. Net institutional purchases in the current quarter at 767.5K shares, which represents about 6% of the company's float of 12.79M shares.

10. Wright Medical Group Inc. (WMGI): Engages in the design, manufacture, and marketing of devices and biologic products for the extremity, hip, and knee repair and reconstruction. Market cap at $817.57M, most recent closing price at $20.63. Net institutional purchases in the current quarter at 1.6M shares, which represents about 5.39% of the company's float of 29.66M shares.

*Written by Kapitall's Alexander Crawford. Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 10 Medical Device Stocks Hedge Funds Are Buying Up