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Home » MedTech 100 roundup: Industry climbs with earnings season in full swing

MedTech 100 roundup: Industry climbs with earnings season in full swing

August 2, 2021 By Sean Whooley

MedTech 100 IndexBetter-than-expected quarterly earnings are providing a further boost to medtech industry stocks.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark would be the index’s all-time best.

The total at the end of last week represents a 2.9% rise from the 115.54-point tally posted by the index at the end of last week (July 23).

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 28.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 91.3% ascent above that point.

The industry’s performance did not correlate with the overall markets this past week as the S&P 500 Index and Dow Jones Industrial Average fared identically, both sliding by -0.4% week-over-week.

Here are some of the major highlights from the past week as earnings season kicks into gear:

  • Recall may have knocked Philips out of sleep devices market for a year
  • Dexcom beats Street — but remains coy on U.S. G7 launch
  • Hillrom beats The Street in Q3, raises guidance
    • Hillrom stock shoots up on news of potential acquisition by Baxter
  • BD acquires resorbable polymer maker Tepha
  • Hologic beats The Street as Q3 profits nearly double
  • Edwards Lifesciences beats The Street in Q2, boosts guidance
  • Stryker has a Street-beating Q2, raises guidance
  • Boston Scientific rises on Street-beating Q2
  • 3M’s healthcare segment registers growth in Street-beating Q2
  • Baxter stock down on mixed-bag Q2 results
  • GE beats The Street as healthcare segment thrives in Q2
  • Pfizer highlights COVID-19 and flu vaccine strategy in Q2 earnings call
  • Smith+Nephew revenue up 48% in Q2
  • Tenaya Therapeutics prices $180M IPO for targeted therapies

Filed Under: Business/Financial News, Featured, Funding Roundup, Initial Public Offering (IPO), MassDevice Earnings Roundup, Mergers & Acquisitions, Wall Street Beat Tagged With: 3m, Baxter, BD, Boston Scientific, coronavirus, COVID-19, Dexcom, Edwards Lifesciences, GE Healthcare, Hillrom, Hologic, MedTech 100 Index, Pfizer, Philips, Smith+Nephew, Stryker, Tenaya Therapeutics

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  • Smith+Nephew opens new plant in Malaysia
  • BD launches combination COVID-19, flu, RSV diagnostic test
  • Zimmer Biomet creates independent nonprofit organization to reduce health disparities
  • Dexcom focuses on early diabetes diagnosis as COVID links emerge

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