In the second half of 2020 medtech began a tentative – and possibly short-lived – recovery.
Success or failure on the stock markets this year depended almost entirely on whether a company’s devices could be used to treat coronavirus patients.
New products and strategic execution buoyed mid and small-cap medtechs, while safety worries took down one former high-flier.
Exact Sciences finds that where there’s muck there’s brass, but specialisation does not work as well for Abiomed.
Some medtech stocks did decline in 2018, but many more increased in value.
Big cap medtech disappoints – but still beats pharma.
Many small groups are up thanks to takeover speculation, and this may end up being self-defeating.