The medtech industry hit another high as 2021 continues to bring strong performances out of some of the biggest companies around.
MassDevice‘s MedTech 100 index ended the week (Feb. 12) at 110.63 points, marking a 2.2% rise from the 108.23-point mark set at the end of the previous week (Feb. 5).
The final mark for the week sets an all-time best for the index, which had previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20 before besting itself again with last week’s finish. The rise has been considerably impressive given that the index had never reached even the 100-point mark before November 2020.
Medtech’s latest rise means the index has risen 19.8% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 78.1%.
Medtech’s performance this past week bettered those of the overall markets, with the S&P 500 Index rising 1.2% and the Dow Jones Industrial Average ticking up 1%.
The industry continues to plug along, and businesses continue to operate through the pandemic. Here are some of the major highlights from the past week:
- These 5 medtech companies made it into the top 200 of Forbes’ best places to work list
- How new CEO Mike Coyle plans to lead iRhythm forward
- Butterfly Network to start trading on NYSE soon
- Feds order 200M more vaccine doses from Pfizer, Moderna
- Philips completes $2.8B BioTelemetry acquisition
- Dexcom Q4 earnings miss by a penny — but revenue up 23%
- Schivo acquires Supreme Screw Products