Following a year like no other in 2020, 2021 was when many looked to rebound — including the medtech industry.
A number of medtech companies followed up a challenging, pandemic-enveloped year with impressive performances. Plenty of them had already proven in 2020 that they were capable of a quick bounce-back.
Here are 10 medtech companies that saw their stocks soar even higher in 2021:
(This list includes members of the MassDevice MedTech 100 Index of the world’s largest medical device companies. Performance is measured in stock price change from Dec. 31, 2020, to Dec. 31, 2021.)
Dexcom
Share price on Dec. 31, 2020: $369.72
Share price on Dec. 31, 2021: $536.95
Change: +45.2%
Dexcom (NSDQ:DXCM) continued to plug along in 2021, with its sights set on launching its next-generation G7 continuous glucose monitor in 2022.
However, the last year wasn’t fully G7-focused, with the company also launching Dexcom One CGM in a handful of European countries. Dexcom One uses the current-generation G6 hardware platform with a different software experience, marking the company’s first foray into a differentiated product portfolio.
Dexcom also received FDA clearance in July for real-time APIs to enable invited third-party developers to integrate real-time continuous glucose monitoring (CGM) data into their digital health apps and devices. In October, Dexcom announced Garmin as its first partner for APIs.
Edwards Lifesciences
Share price on Dec. 31, 2020: $91.23
Share price on Dec. 31, 2021: $129.55
Change: +42%
Edwards Lifesciences (NYSE:EW), one of the leaders in heart valve replacement technology, continued its growth in that space throughout 2021.
Five-year data demonstrated a favorable safety and hemodynamic performance from its bioprosthetic surgical aortic valve with the novel Resilia tissue aortic valve platform early in the year, followed by a cost-effectiveness analysis that supports transcatheter aortic valve replacement (TAVR) with the Sapien 3 later on in 2021.
In November, data from a clinical trial showed that its Evoque transcatheter tricuspid valve replacement offers favorable patient outcomes.
Bio-Rad
Share price on Dec. 31, 2020: $582.94
Share price on Dec. 31, 2021: $752.62
Change: +29.1%
Bio-Rad (NYSE:BIO) didn’t break through with any significant regulatory wins or clinical studies in 2021, but the stock quietly ticked up throughout the year in an impressive fashion.
Among the notable events for the clinical diagnostics company were the launch of a COVID-19 wastewater testing kit and the announcement of a partnership with Seegene for the clinical development and commercialization of infectious disease molecular diagnostic products.
Despite the company’s excellent 2021 performance, it’s worth noting that 2022 has not been so strong, with the company’s quarterly earnings revealing nearly $1.6 billion in losses for the fourth quarter of 2021, resulting in the company’s stock sliding down more than $100 per share to around $635 as of Feb. 28.
Abbott
Share price on Dec. 31, 2020: $109.49
Share price on Dec. 31, 2021: $140.81
Change: +28.6%
Abbott (NYSE:ABT) plugged along during 2021 and continued to make waves across an array of spaces within the medtech world.
Major steps forward included a foray into the TAVR market with the FDA approval of its Portico with FlexNav TAVR system, as well as positive clinical trial results for the MitraClip G4 platform and the Aveir leadless pacemaker.
Meanwhile, the company’s over-the-counter BinaxNow COVID-19 rapid diagnostic remains one of the leaders in its space. The company increased its manufacturing capacity for the tests when the delta and omicron variants of COVID-19 began to cause a sharp uptick in the spread of the virus.
Atricure
Share price on Dec. 31, 2020: $55.67
Share price on Dec. 31, 2021: $69.53
Change: +24.9%
AtriCure (NSDQ:ATRC) saw its shares climb high on a couple of occasions in 2021 and, despite some retreating before the year ended, the full-year result was nearly 25% growth.
The biggest news for the company during the year was the FDA approval of its EPi-Sense system for treating long-standing persistent atrial fibrillation (AFib) in April. AtriCure designed it for use in a minimally invasive procedure to provide a long-lasting solution for long-standing, persistent Afib patients.
AtriCure’s stock also received a considerable boost on its Street-beating third-quarter earnings in November. On Nov. 5, shares of ATRC rose as high as $87.14.
ResMed
Share price on Dec. 31, 2020: $212.56
Share price on Dec. 31, 2021: $260.26
Change: +22.4%
ResMed (NYSE:RMD) had a solid year on its own, having already increased its share price by providing its respiratory machines as invasive ventilator alternatives during the height of the COVID-19 pandemic in 2020 and onward.
The company launched its next-generation AirSense 11 positive airway pressure (PAP) device in August 2021, highlighting its continued innovation in respiratory technology.
However, perhaps the most significant bump for ResMed’s stock came through the major recall that took Philips out of the sleep devices market entirely for the time being. While analysts have recently suggested the timeline for when ResMed’s revenue growth on the back of the recall will plateau — and supply chain constraints have set the company back slightly — for now, ResMed’s market share continues to grow.
Inspire Medical Systems
Share price on Dec. 31, 2020: $188.09
Share price on Dec. 31, 2021: $230.06
Change: +22.3%
While ResMed was the biggest beneficiary of Philips’ recall, Inspire Medical Systems (NYSE:INSP), another player in the sleep apnea space, quietly performed at a high level throughout 2021.
The biggest bump the company received came after it released its second-quarter earnings results in August, with previous revenue projections increasing by about $20 million for the entire year.
Inspire also received clarity on how the Centers for Medicare and Medicaid Services (CMS) will reimburse its implantable sleep apnea treatment device in November, followed by a sizeable jump in stock price, rising as high as $279.11 per share.
ICU Medical
Share price on Dec. 31, 2020: $214.49
Share price on Dec. 31, 2021: $243.68
Change: +13.6%
ICU Medical (NSDQ:ICUI) didn’t come forward with major regulatory breakthroughs or product launches in 2021 but was involved in one of the bigger M&A deals across the medtech space.
The company took a number of steps toward completing the $2.35 billion acquisition of Smiths Medical throughout the year, contributing to its ever-growing stock price, before finally announcing the deal’s completion in early 2022.
Aside from the Smiths Medical purchase, ICU Medical spent 2021 logging Wall Street-beating quarterly earnings results with constant profit growth.
Abiomed
Share price on Dec. 31, 2020: $324.20
Share price on Dec. 31, 2021: $359.17
Change: +10.8%
Abiomed (NSDQ:ABMD) achieved two significant regulatory milestones in 2021, with the company’s Impella heart pump continuing to boost results.
In June, the FDA granted premarket approval (PMA) to Abiomed’s Impella RP with SmartAssist to treat acute right heart failure. A couple of months later, the FDA granted breakthrough device designation for its Impella ECP expandable percutaneous heart pump.
Abiomed also received a bump in stock price on the news of the acquisition of Precardia and its catheter-based system to treat acute decompensated heart failure.
Stryker
Share price on Dec. 31, 2020: $245.04
Share price on Dec. 31, 2021: $269.48
Change: +10%
Stryker (NYSE:SYK) filled 2021 with several product launches, including a new humeral system, a new femur retrograde nailing system, a new tendon fixation platform and more. The company also received FDA 510(k) clearance for its balloon implant for arthroscopic treatment of massive irreparable rotator cuff tears.
The company remains one of the big names in orthopedics, featuring among MassDevice’s seven companies using robot-assisted surgery to transform orthopedics and demonstrating its efforts to advance orthopedics through 3D printing.
