After rising more than 31 points to heights never before reached, the medtech industry returned to normal this past week.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 23) at 115.54 points, a total that, had it not been for last week, would be the index’s all-time high.
However, the index finished the previous week (July 16) at 145.88 points, a remarkable 27.1% rise week-over-week, registering by far the greatest increase the index has seen since its inception — and perhaps an anomaly. Although the index slid by -20.8%, it remains in a stronger position than ever before, last week notwithstanding.
Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 25.2% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). It remains well ahead of the mid-pandemic low…