After three consecutive weeks of record-breaking numbers, the medtech industry finally fell backwards over the past seven days.
Previous highs have largely been a result of the FDA granting Moderna emergency use authorization for its vaccine candidate and its subsequent rollout to the U.S., joining the one made by Pfizer (NYSE:PFE) and BioNTech (NSDQ:BNTX), which began to be administered last month.
The index finished last week at 105.8 (Jan. 15), marking a -0.95% drop from the 106.81 points (the highest ever total for the index) registered at the end of the week prior (Jan. 8).
A slight downturn had come after the index hit a new high (100.75) on Dec. 4, 2020, beating the mark of 100.65 set on Nov. 9 and setting a new all-time high since the index started being recorded on Jan. 1, 2001. However, prior to this past week, stocks in the industry continued to rise.
On Dec. 18, the markets hit their then-highest mark so far at 103.11 points, only to be bettered over the holiday stretch as the industry’s stocks continue to rise amid investor expectations of a better 2021 with hopes of reaching a post-pandemic state.
The index climbed as high as more than 14 points ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19. Still, the industry remains more than 13 points ahead of that mark. To date, medtech stocks have increased by 14.6%.
Medtech’s stock performance appeared to mirror overall markets as the S&P 500 Index saw a -1.5% loss, while the Dow Jones Industrial Average fared almost identically to medtech, falling by -0.91%.
Medtech’s lowest point during the COVID-19 pandemic remains at 62.13 on March 23. Since then, the industry’s stocks have experienced 70.3% growth in total, as of the end of last week.
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 preliminary earnings reports begin to surface:
"industry" - Google News
January 19, 2021 at 09:29PM
https://ift.tt/35UflLw
MedTech 100 roundup: Finally a dip as industry stays relatively strong - Mass Device
"industry" - Google News
https://ift.tt/2RrQtUH
https://ift.tt/2zJ3SAW
Bagikan Berita Ini
0 Response to "MedTech 100 roundup: Finally a dip as industry stays relatively strong - Mass Device"
Post a Comment