One week after recording its all-time best performance, the medtech industry once again topped itself, storming even further ahead.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has been on the rise since April began, with last week’s mark of 112.25 (April 16) representing an all-time best, topping the previous high of 110.96 set on Feb. 15.
Just one week later, the index has already bested itself again, reaching 114.58 to end the week on April 23, marking an increase of 2.1% from the previous week.
The rapid improvement continues to shine a light on the strong position the industry has maintained more than a year on from the height of the COVID-19 pandemic’s impact on medtech. The industry has produced a 24.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 84.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets fared differently to medtech over the past week, with the S&P 500 Index dipping just -0.1% and the Dow Jones Industrial Average falling by -0.5%.
The industry continues to recover from the COVID-19 pandemic and its effects, while earnings reports for the first quarter of 2021 are beginning to make their way into the fold. Here are some of the major highlights from the past week:
- The 10 largest orthopedic device companies in the world
- Johnson & Johnson rises on Street-beating Q1
- Intuitive Surgical up on Street-beating Q1
- Abbott stock down on mixed bag Q1
- EU to look into Illumina’s proposed acquisition of Grail
- Edwards rises after hours on Street-beating Q1
- Danaher ticks up on Street-beating Q1
- NeuroPace shares take off on first day of trading
- Endeavour Vision closes $375M financing for medtech growth fund