The medtech industry continues to climb back up in the markets, following a landmark week with another move up toward its pre-COVID-19-pandemic highs.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.29 points at the end of last week (July 24). That total represents just a -3.3% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.
On July 22, the index reached 90.11 points, marking its highest point since that pre-pandemic high and the first and only time it has eclipsed 90 points since that day in February.
Medtech stocks saw a 0.44% increase from the 88.9-point total at the same time a week prior (July 17), highlighting a slight improvement after last week saw the industry inch back toward that pre-pandemic high.
Meanwhile, the S&P 500 Index saw a -0.3% decline from July 17 to July 24, and the Dow Jones Index fared slightly worse, posting a -0.8% drop over the same period of time. Both indexes went opposite the medtech industry’s changes this past week, but similarly did not see a drastic change.
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 as some companies began to roll out earnings reports:
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July 27, 2020 at 11:20PM
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MedTech 100 roundup: Industry remains on the rise - Mass Device
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