Medical device companies suffered a slow period amid the pandemic as hospitals battled with COVID-19, but now, these manufacturers stand to benefit from pent-up demand, one portfolio manager says.

Speaking with BNN Bloomberg’s Amber Kanwar on Monday, Rob Moffat, portfolio manager at Middlefield Group, said medical companies are facing several tailwinds now that the height of the COVID-19 pandemic has passed.

“Med-tech companies had a tough three years. They were heavily impacted by a lot of COVID disruptions, it was very difficult to operate a hospital with people coming in and out with COVID. They were also hit quite hard by supply chain disruptions,” he explained.

“A lot of those headwinds are now tailwinds. You have supply chains improving, hospitals are now able to operate back at full capacity or you know above average,” he said.

Moffat recommended Stryker Corp. (SYK), Medtronic Plc (MDT) and Becton, Dickinson and Company (BDX) as his top three stock picks within the medical technology industry.

Moffat, his family and his investment banking clients do not own any shares mentioned above. However, his firm does.

Check out the full video at the top of the article to learn more.