Medtech stocks continue to fluctuate amid the COVID-19 pandemic, with a significant dip in the shares belonging to the industry’s biggest names.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 81.88 points at the end of last week (June 26). That total represents a -3.7% decrease from the 85.00-point total at the same time a week prior (June 19), demonstrating another downturn after a 3.5% bump just one week before.
Meanwhile, the S&P 500 Index experienced a -2.9% drop from June 19 to June 26, and the Dow Jones Index fared slightly worse with a -3.3% decrease over the same period of time. Both indexes mirrored the medtech industry’s changes, having each posted marginal increases 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 31.8% growth in total. Stocks in the industry remain down -11.3% since the index’s pre-pandemic crash high point of 92.32 on Feb. 19.
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:
- Check out our list of the top 20 medtech startups to look out for
- FDA helps to fund collaboration focused on COVID-19 treatments
- Moderna and Catalent partner on COVID-19 vaccine candidate manufacturing
- DoD pledges $100m to boost COVID-19-related medtech and pharma manufacturing
- LeMaitre Vascular acquires Artegraft
- Henry Schein executives’ pay cuts continue
- MedTech Innovator selects 50 startups for its accelerator program