Despite plenty of ups and downs coming in the stock market for the medtech industry, there was hardly any movement from week to week.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.6 points at the end of last week (Aug. 21). Overall, medtech stocks saw a -0.2% decrease from the 89.77-point total at the same time a week prior (Aug. 14).
Once again, the index nearly reached a high point during the COVID-19 pandemic, as on Aug. 18, it hit 90.4 points for the second time in as many weeks, a total that nearly poked past the previous mid-pandemic high (90.45), which came on Aug. 5.
The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.9% decrease from that pre-pandemic high.
Meanwhile, the S&P 500 Index saw a 0.72% increase from Aug. 14 to Aug. 21, having reached record highs on Aug. 18. Meanwhile, the Dow Jones Index remained practically unchanged after a slight decrease, falling in line with the medtech industry.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 44.2% 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: Interviews with Fractyl Labs and Cala Health
- The top 5 medtech CEO quotes about COVID-19
- The top 5 MassDevice stories of the week
- Bayer settles most of Essure claims for $1.6 billion
- Medtech stocks help boost S&P rally
- Feds accuse Teva of taking $300 million in kickbacks
- Conformis hits second milestone in Stryker deal
- Cochlear agrees to pay $75 million for attorney fees in patent spat
- Sanofi to buy Principia Biopharma for $3.68 billion
- CureVac soars after $213.3 million IPO
- Johnson & Johnson to acquire Momenta for $6.5 billion
