After a slight hiccup disrupted weeks of improvement, the medtech industry again flexed its muscles over the last seven days.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 20) at 119.63 points, representing a 1.5% rise from the 117.92-point tally set a week prior.
The shift marks a quick rebound from the -1.2% dip observed in the previous week and the index now sits at its highest week-ending mark ever, having actually hit an all-time best of 119.72 points on Aug. 17.
Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry remains well above the marks set around the height of the pandemic, having registered a 29.6% 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 92.5% 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 traveled in the opposite direction, dipping by -0.6% and -1.1%, respectively.
Here are some of the major highlights from the past week as some major personnel moves took place across the industry:
- J&J’s Gorsky to step down as CEO
- Illumina completes $8B Grail acquisition, companies remain separate amid European review
- Stryker president Scannell to retire
- Ultrahuman raises $17.5M Series B for wearable glucose monitoring tech
- Eli Lilly forms neuroscience and immunology units amid leadership changes
- Strata Skin Sciences buys Ra Medical’s Pharos dermatology business
- Stevanato Group brings in upsized IPO worth $453.5M
- Alcon reports 74% sales growth in Q2, raises 2021 guidance
