After back-to-back all-time best performances, the medtech industry had a slight regression over the course of the last week.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — had been continuously ticking up since the beginning of April, with its mark of 112.25 on April 16 representing an all-time best, topping the previous high of 110.96 set on Feb. 15.
Just one week later, the index topped itself again, reaching 114.58 to end the week on April 23, marking an increase of 2.1% from the previous week. However, things have settled down and the industry responded in kind, dipping -1.6% to 112.7 to end last week (April 30).
In spite of the slight decrease over the past week, the industry continues to reflect a bounceback from the struggles brought on by the COVID-19 pandemic.
Overall, has produced a 22.1% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus an 81.4% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets fared slightly differently over the past week, with the S&P 500 Index remaining almost the same week-over-week 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:
- DTW Podcast: Can Proximie bring safer surgery to the wider world? How is Getinge answering call for ventilators?
- The 10 largest orthopedic device companies in the world
- Abbott sees a future for at-home diagnostics after COVID-19
- Abiomed stock falls on Q4 results
- Butterfly Network partners with Sientra on ultrasound for breast implant patients
- Dexcom dips after hours despite Street-beating Q1, raised guidance
- CHF Solutions changes name, broadens focus
- Smith+Nephew revenue up 11.5% in Q1
- Stryker sees pandemic sales effects softening
- Boston Scientific, Stryker may get extension on Medicare payments