Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the 89.65-point total at the same time a week prior (Aug. 7).
On Aug. 13, the index reached 90.4 points, a total that nearly poked past the previous mid-pandemic high (90.45), which came just last week.
The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.8% decrease from that pre-pandemic high.
Meanwhile, the S&P 500 Index saw a 0.64% increase from Aug. 7 to Aug. 14, and the Dow Jones Index fared even better, rising 1.8% over the same period of time.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 44.5% growth in total.
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 as some companies began to roll out earnings reports:
- The top five MassDevice stories of last week
- Thermo Fisher drops Qiagen bid
- Ventec to take over ventilator production at GM plant
- The top digital health startups in the world
- BD, Quidel reportedly struggle to fulfill orders for COVID-19 antigen tests
- Vietnam’s Vingroup to supply ventilator parts to Medtronic
- Hologic spending more than $50 million to boost COVID-19 test production
- Senseonics posts mixed bag Q2
- Sanuwave completes Celularity buy
- Medtronic to acquire Companion Medical
- HHS commits another $6.5 million toward COVID-19 testing
- Hyderabad expansion set to make India location Medtronic’s second-biggest R&D facility
- Livongo slides despite Street-beating Q2