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Home » MedTech 100 roundup: New peak for industry

MedTech 100 roundup: New peak for industry

October 13, 2020 By Sean Whooley

MedTech 100 IndexStocks in the medtech industry continue to impress as, over the past week, they set a new benchmark amid the COVID-19 pandemic.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 95.05 (Oct. 9), marking a 5.9% gain from the 89.73 points registered at the end of the week prior (Oct. 2). As markets resumed on yesterday’s holiday, that number ticked even higher to 95.84, where it sits now.

Last week’s peak and the continued rise to start this week well eclipses the 93.11 points the index registered on Sept. 2, and now sits more than three points ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.

By climbing up to 95.84 today, the index now represents a 2.9% rise from the Sept. 2 high point and a 3.8% increase from the pre-pandemic high set on Feb. 19.

Meanwhile, the S&P 500 Index saw a 3.8% gain from Oct. 2 to Oct. 9, having remained somewhat strong since reaching record highs on Aug. 18, also peaking on Sept. 2. It is now nearing that Sept. 2 peak this morning. Meanwhile, the Dow Jones Index fared slightly worse with a 3.3% gain 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 54.3% 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:

  • The top 5 MassDevice stories of the week
  • How Medtronic’s new diversity leader wants to make the company even better
  • AI could boost Edwards’ critical care business
  • EU orders 200M J&J COVID-19 vaccine doses
  • Medtronic CEO: “I don’t want to go back to normal”
  • Steris to acquire Key Surgical for $850M

Filed Under: Business/Financial News, Featured, Mergers & Acquisitions, Research & Development, Wall Street Beat Tagged With: coronavirus, COVID-19, Edwards Lifesciences, Johnson & Johnson, MedTech 100 Index, Medtronic, Steris Corp.

In case you missed it

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  • Henry Schein makes $400M increase to share repurchase plan
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  • CathVision closes $7.2M financing round for electrophysiology recording tech
  • Verily’s Onduo, Sword Health collaborate on virtual care
  • FDA clears expanded labeling for Preceptis Medical’s ear tube system
  • KeyCare raises $24M for virtual care platform
  • FDA says 44 more deaths have been reported in Philips ventilator recall
  • Paragonix reaches milestone of 2,000 organs preserved, transported for transplantation
  • Axonics expands IP portfolio with new patents
  • BD, Accelerate Diagnostics partner on rapid antibiotic testing
  • FDA clears VySpine’s VyPlate anterior cervical plate system
  • Technical Brief – “Understanding the Extensive OEM Benefits of Total Linear Motion Solutions.”
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