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These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Ove…

MedTech 100 roundup: Industry hits another mid-pandemic high

Despite a minor regression week-over-week, the medtech industry’s stocks hit another milestone as the COVID-19 rebound remains in progress.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.01 points at the end of last week (July 31). Overall, medtech stocks saw a -0.3% increase from the 89.29-point total at the same time a week prior (July 24).

On July 30, the index reached 90.37 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.11) coming last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 1.7% increase from July 24 to July 31, and the Dow Jones Index posted a -0.2% drop over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

The top 5 MassDevice stories of the week — July 31, 2020

The past week has seen a slew of Q2 earnings reports from medical device companies — and the picture overall hasn’t been pretty amid the COVID-19 pandemic.

Still, medtech CEOs during their earnings calls said they’re starting to see some signs of hospital procedures recovering a bit even as the southern U.S. deals with a coronavirus wave. Some of the top MassDevice stories this week actually involved companies providing more solutions to improve management of the pandemic.

Want to hear more about the week’s top news? Executive editor Chris Newmarker and Tom Salemi will discuss during our DeviceTalks Weekly podcast. Without further ado, here’s this week’s MassDevice Top Five:

5. A few bright spots amid the COVID-19 financial toll

Dexcom (NSDQ:DXCM) proved to be one of the few bright spots among medtech Q2 earnings reports, blowing away the Wall Street consensus forecast as it successfully pivoted to making its continuous glucose monitors avail…

Dexcom up after hours on Street-beating Q2

Dexcom (NSDQ:DXCM) shares ticked up after hours today on second-quarter results that blew away the consensus forecast.

The San Diego-based continuous glucose monitoring technology developer posted profits of $46.3 million, or 48¢ per share, on sales of $451.8 million for the three months ended June 30, 2020, for a massive bottom-line gain after losses of $10.5 million this time last year on sales growth of 34.3%.

Adjusted to exclude one-time items, earnings per share were 79¢, 44¢ ahead of Wall Street, where analysts were looking for sales of $415.7 million.

During the ongoing COVID-19 pandemic, the company made its CGM systems available to U.S. hospitals and healthcare facilities to assist frontline workers as it adjusted to doing business during the crisis.

“Our growth in the second quarter reflects the commitment of the Dexcom teams to rapidly adjust during the COVID-19 pandemic and ensure service to our customers and our communities,” Dexcom c…

DeviceTalks Weekly: Stryker CEO Kevin Lobo says medtech can increase workforce diversity

DeviceTalks Weekly

This week’s DeviceTalks Weekly podcast episode talks with industry leaders about improving worker diversity and developing new ways to treat COVID-19 patients.

Kevin Lobo, chairman and CEO of Stryker, explains how his company — and the industry group AdvaMed that he currently leads — has been working to increase diversity of its workforce, particularly in senior and sales positions.

Lobo is serving a two-year term as chairman of AdvaMed. In this interview, he speaks specifically to how Stryker is tracking progress, where it has come up short and how it’s working to help workers identify their own biases.

Lobo also says Stryker is poised to regain momentum after the pandemic.

Next, Kevin Sayer, executive chairman, CEO and president of Dexcom, says the company’s continuous glucose monitors are finding a home in hospitals as they help monitor the health of COVID-19 patie…

Dexcom CEO sees a new market for continuous glucose monitors after COVID-19

Dexcom CEO Kevin Sayer

Could in-hospital use of continuous glucose monitors become a new normal after the COVID-19 pandemic? Dexcom CEO Kevin Sayer thinks so.

As the pandemic ramped up in March, FDA issued temporary guidance allowing increased remote monitoring of hospital patients in order to limit contact with hospital staff. The guidance included CGMs made by companies such as Dexcom (NSDQ:DXCM) and Abbott (NYSE:ABT).

Preliminary data suggest that CGMs helped, according to Sayer, who spoke with MassDevice today as part of a virtual version of the American Diabetes Association’s annual Scientific Sessions. (Hear some clips during our DeviceTalks Weekly podcast at the end of the week.)

“We’ve even heard stories of patients who came in and they were about to ventilate them, and then they realized maybe their glucose values were out of control. Getting their glucose values unde…

Abbott FreeStyle Libre 2 iCGM FDA cleared for use in adults and children

Abbott (NYSE:ABT) announced today that it received FDA clearance for its FreeStyle Libre 2 system for adults and children ages four and older with diabetes.

The Abbott Park, Ill.-based company touts its FreeStyle Libre 2 integrated continuous glucose monitoring (iCGM) system as the only such system with optional real-time alarms that measure glucose levels every minute over a 14-day wear time, making it long-lasting and eliminating the need for fingersticks.

FreeStyle Libre 2 uses Bluetooth to automatically alert users when glucose is high or low, removing the need to scan the sensor. Users can also turn off the customizable alarms, should they choose to. The system digitally connects and communicates with other compatible devices to allow for diabetes management to be specifically tailored to a person’s needs.

The sensor for the FreeSytle Libre 2 is worn on the back of the upper arm for 14 days and includes one-second scan capabilities with a hand…

Dexcom lands CE Mark for G6 glucose monitor

Dexcom (NSDQ:DXCM) announced today that it received CE Mark approval in Europe for its G6 continuous glucose monitoring system.

The Dexcom G6 uses a small, wearable sensor and transmitter, now indicated to be placed on the back of the upper arm, to continuously measure and send glucose levels wirelessly to a dedicated receiver or compatible smart device, removing the need for fingerpricks. The system also includes customizable alerts and alarms.

Dexcom designed its CGM to address consumer convenience, as the system has a 10-day sensor, easy-to-use applicator and it does not require calibration.

The Dexcom G6 is available for patients in Europe over the age of two and can be worn on the abdomen, as well as on the back of the upper arm. Patients up to 17 can wear the device on the upper buttocks as well.

“We are excited that the Dexcom G6 has received CE Marking in Europe for wear on the back of the upper arm,” Dexcom senior VP & GM …

Dexcom completes sale of $1.05B in notes

Dexcom (NSDQ:DXCM) announced that it completed the sale of $1.05 billion aggregate principal amount of its convertible senior notes.

The San Diego-based continuous glucose monitoring system developer announced earlier this week that it was offering $850 million in notes with plans to offer note purchasers a 13-day option to buy up to an additional $150 million aggregate principal amount of notes.

A day later, the company increased the aggregate principal amount and granted a 13-day option to purchase up to an additional $157.5 million in notes, upsizing the total to the $1.05 billion it sold.

DexCom expects that the net proceeds will total approximately $1.03 billion, or $1.19 billion if the initial purchasers exercise their option to purchase the additional notes. The company used approximately $282.6 million of the proceeds to pay the cash consideration and issued more than 1.9million shares of its common stock to repurchase or exchange approximately $…

DexCom prices $1.05B ‘upsized’ offering

Continuous glucose monitoring system developer Dexcom (NSDQ:DXCM) announced today that it priced an upsized offering worth $1.05 billion in convertible senior notes.

Yesterday, the San Diego-based company announced an offering worth $850 million with plans to offer note purchasers a 13-day option to buy up to an additional $150 million aggregate principal amount of notes. Today, DexCom increased the aggregate principal amount and granted a 13-day option to purchase up to an additional $157.5 million in notes.

DexCom is offering senior, unsecured obligations with an interest rate of 0.25% per year. The notes will mature on Nov. 15, 2025. The company expects the sale of the notes to close on May 14, 2020, according to a news release.

Before 5 p.m. ET on the business day immediately preceding Aug. 15, 2025, the notes will be convertible at the option of the holders. Upon conversion, they may be settled in shares of DexCom’s common stock, cash, or a co…