Published on 2 Dec 2024 on Benzinga
Morgan Stanley Maintains Positive MedTech Outlook Despite Setbacks in 2024,...
Last year, Morgan Stanley upgraded its outlook for the U.S. MedTech sector to “Attractive,” believing the concerns around GLP-1s were already reflected in stock prices and that fundamentals were strong.
However, this view didn’t play out as expected, mainly due to unforeseen, company-specific issues, such as DexCom, Inc’s DXCM unexpected Q2 channel mix challenges, Edwards Lifesciences Corporation’s EW slowdown in TAVR procedures, TransMedics Group, Inc’s TMDX seasonal impacts, and iRhythm Technologies, Inc’s IRTC DOJ investigation.