The medtech industry’s stocks rose higher than they ever had to begin last week before eventually dropping to a slightly more normal level.
MassDevice‘s MedTech 100 index ended the week (Feb. 19) at 108.72 points, marking a -1.7% dip from the 110.63-point mark set at the end of the previous week (Feb. 12). On Monday (Feb. 15) the index hit its highest mark ever, though, rising to 110.96 points.
That mark sets an all-time best for the index, which has been on the rise for practically all of 2021 so far. It previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20 before besting itself again with last week’s finish. The improvement has been considerably impressive given that the index had never reached even the 100-point mark before November 2020.
Medtech’s latest tally means the index has risen 17.8% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 75%.
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:
- Fifth round of medtech user fee talks set to begin soon
- Former Medtronic exec to lead Zimmer Biomet spinoff
- Butterfly Network completes merger, starts trading on NYSE
- Biden announces $4B to support global vaccinations worldwide
- Feds to spend $1.6B to expand COVID testing, domestic manufacturing
- Mainstay Medical raises $108M
- Henry Schein One names new CEO
- Retractable Technologies lands $54.2M federal contract for syringes