Medtech stocks made a run at a new peak over the past week, but ultimately remained mostly unchanged from the previous seven days.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 89.3 (Sep. 18), marking a 0.3% gain from the 89.03 points registered at the end of the week prior (Sep. 11).
Stocks climbed as high as 90.48 points on Sep. 15, but, in the end, could not reach the peaks set in previous weeks, having hit 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.
By climbing up to 89.3, the index now represents a -4.1% drop from the Sep. 2 high point and a -3.3% drop from the pre-pandemic high set on Feb. 19.
Meanwhile, the S&P 500 Index saw a -0.6% dip from Sep. 11 to Sep. 18, having steadily climbed since reaching record highs on Aug. 18, also peaking on Sep. 2. Meanwhile, the Dow Jones Index fared only slightly better with a -0.03% dip 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 43.7% 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:
- DeviceTalks Weekly Podcast: Interview with Outset Medical CEO Leslie Trigg
- The top 5 MassDevice stories of the week
- COVID-19 diagnostic test shipments surpass 150M in U.S.
- Quest Diagnostics lets consumers order COVID-19 tests online
- Feds unveil COVID-19 vaccine distribution plan
- Intersect ENT to acquire Fiagon for $71.1M
- Hologic launches $950M private offering
