For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from the 89.01-point total at the same time a week prior (July 31).
On Aug. 5, the index reached 90.45 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.37) coming last week.
The most recent high mark represents just a -2% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 44.3% 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:
- DeviceTalks Weekly podcast: 10 ways medtech is finding its footing during the pandemic
- Pfizer agrees to deal with Gilead to manufacture remdesivir COVID-19 treatment
- U.S. government to pay $1 billion for Johnson & Johnson COVID-19 vaccine candidate
- Teladoc to acquire Livongo for $18.5 billion
- Siemens Healthineers to buy Varian for $16.4 billion
- 3M lays off another 1,700 workers
- Seven states combine to expand COVID-19 antigen testing
- BD lowers revenue projections after Q2
- CHF Solutions gets COVID-19-related sales boost in Q2
- Insulet rises on strong Q2 & raised guidance
- TransEnterix losses less than expected in Q2
- Orthofix feels wrath of COVID-19 in tough Q2
- Abiomed slides despite Street-beating Q2
- Cardinal Health posts mixed bag Q2
- Acutus Medical launches IPO on Nasdaq
- Ventilator sales boost ResMed in Q2