Medtech stocks have been on the rise in 2021, and the past week saw the trend continue with yet another all-time best mark.
MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.
The high point could not be sustained, but the industry stayed strong, finishing at 106.4 to end the week on Jan. 22. Medtech’s finish to last week was enough to top the previous seven days, coming in 0.6% ahead of the 105.8-point mark set on Jan. 15.
While medtech saw slight growth from the previous week, one of the overall markets saw a larger jump, with the S&P 500 Index rising 1.9%. The Dow Jones Industrial Average fared identically to medtech, rising 0.6%.
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 earnings reports begin to surface:
- The top 5 MassDevice stories of the week — January 22, 2021
- 7 takeaways from Biden’s ‘full-scale, wartime’ plan to combat the COVID-19 pandemic
- Biden’s COVID-19 response will make manufacturers busy
- Intuitive Surgical stock down despite Street-beating Q4
- Boston Scientific to acquire Preventice Solutions
- Obalon Therapeutics’ stock skyrockets after announcing ReShape Lifesciences merger
- Amazon offers to help Biden administration with vaccine distribution
- Hillrom to buy Bardy Diagnostics for $375M
- Thermo Fisher to acquire Mesa Biotech
- Philips acquires Capsule Technologies and its medical device data tech
- GE Healthcare reportedly lays off 140 in Wisconsin
- Abbott’s MitraClip receives boost as CMS expands coverage for TMVR
- Haemonetics to acquire Cardiva