Last week provided a glimmer of light for medtech after a rough few weeks as the industry continues to push in the right direction.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (May 28) at 108.5 points, producing a 0.7% rise from the 107.74-point mark set one week prior (May 21). It marks the second week running in which the industry produced an uptick, following its 1.4% rise from May 14 to May 21.
Having endured its largest slide of 2021 in recent weeks, the index is already demonstrating signs of picking up again after April brought the industry’s all-time best performance.
Even with setbacks that slowed the industry this spring, 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 17.5% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 74.6% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets mirrored medtech this past week while performing at a slightly higher level, with the S&P 500 Index rising 1.2% and the Dow Jones Industrial Average faring similarly, ticking up 0.9%.
Medtech companies continue to rebound from the COVID-19 pandemic more than a year later. Here are some of the major highlights from the past week:
- EU MDR finally goes into effect
- Medtronic beats The Street in Q4, Hugo robot wins IDE
- Barclays is bullish on medtech
- Titan Medical collects $10M milestone payment from Medtronic
- Rapid Medical raises $50M to support its minimally invasive stroke treatments
- Olympus acquires Israel-based Medi-Tate
- Honeywell lays off nearly 500 on Rhode Island N95 production line