The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase from the 89.6-point total at the same time a week prior (Aug. 21).
While 90.78 points is already the highest total on which the index has ended a week during the COVID-19 pandemic, just the day before, the index hit 91 points even, marking the highest point total since the pandemic took its toll.
The most recent high mark represents just a -1.4% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -1.7% decrease from that pre-pandemic high.
Meanwhile, the S&P 500 Index saw a 3.3% increase from Aug. 14 to Aug. 21, having steadily climbed since reaching record highs on Aug. 18. Meanwhile, the Dow Jones Index received a bump too, climbing 2.6% over the same period of time.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 46.1% 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:
- DeviceTalks Weekly Podcast: Medtronic prepping for growth
- The top 5 MassDevice stories of the week
- 7 technologies to make Medtronic even more powerful
- U.S. government reportedly set to pay $750M for Abbott’s rapid COVID-19 tests
- Medtronic’s recovery ‘faster than expected’ in Q1
- Stryker extends bid for Wright Medical again
- Boston Scientific, Abbott named among top workplaces for innovators
- Philips to acquire Intact Vascular for $275M
- Hologic buys Acessa Health for 80M
- TAVR sales growth goes flat for July
- iRhythm closes $220M offering