The medtech industry’s hot start to 2021 has finally come to a full halt after stocks fell harder than they had in more than four months.
MassDevice‘s MedTech 100 index ended the week (March 5) at 103.3 points, marking a -3.1% dip from the 106.65-point mark set one week before (Feb. 26). In less than a month, the fall has been more than seven points from the end-of-week tally of 110.63 points on Feb. 12.
Medtech’s lowest point of the week was on Thursday, March 4, when it fell to 102.85. The overall drop of about five points from the 107.88-point mark set on Monday, March 1, is the largest dip since the index slid from 97.2 to 91.01 between Oct. 23, 2020, and Oct. 30, 2020.
The all-time best for the index was 110.96, set just three days after that. The index had never reached even the 100-point mark before November 2020.
Still, the industry is in much better condition than it was around this time last year. Medtech’s latest mark means …