Medical Device Makers: Healthy Buys

Andrew Fisher

The medical device field has its problems -- but Jan Wald thinks the stocks of medical device makers may be excellent defensive plays in the current market environment.

"Valuations of these stocks are pretty low at this point," the Stanford Group managing director told CNBC.  "What you want to make sure of is that the markets are actually on the upward side of momentum."

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Wald thinks the stent market fits that description.

"We've got data now from Boston Scientific, we've had data previously, that suggest that that market at least is stabilizing and starting to improve," he said.

"It looks like it might be a good time to move into Boston Scientific or Johnson & Johnson, one of the two players in the market right now in the U.S., Medtronic down the road, Abbott down the road as well," he added.

Wald owns shares of Boston Scientific, Johnson & Johnson, and Medtronic.