Medtech stocks rebounded from a significant dip earlier in June last week, continuing to highlight the topsy-turvy nature of the markets during the COVID-19 pandemic.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 85.00 points at the end of last week (June 19). That total represents a 3.5% increase from the 82.12-point total at the same time a week prior (June 12), demonstrating another uptick after a -6% drop-off just one week before.
Meanwhile, the S&P 500 Index experienced a 1.9% increase from June 12 to June 19, and the Dow Jones Index fared slightly worse with a 1% increase over the same period of time. Both indexes mirrored medtech’s rebound, having posted -4.8% and -5.6% decreases, respectively, the week before.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 36.8% growth in total. Stocks i…