2. Medtech Valuations are Soaring

Analysts have noted in recent reports that medtech that medtech stocks across the board (large, mid-, and small-caps) are trading at the high end (or just above) historical peak valuation levels. Multiples have, for the most part, trended higher throughout 2017, according to Canaccord Genuity's Jason Mills.

"In general, we are scratching our heads at current valuations," he wrote in a July 10 note to investors.

Mills recommended in that note, and again in a Sept. 14 note, that investors look for "pullback opportunities" to build bigger positions in stocks with differentiated, leading technology positions in robust markets with multi-year growth trajectories and expanding margins.