Healthcare Sector Update: MedTech Trending Up. Update-1 Brief Recap

Healthcare Stocks-Brief Recap for the Week ending 4/28

A nice steady day holding on to gains with the Russell 2000 up 1.015, the NASDAQ up 0.69%,DOW 30 up 0.8%  and the S&P 500 up 0.83%.

• Life science ETFs for the WEEK:  XLV down 0.57% to $133..53, IBB down 2.21% to $130.51, XBI down 2.52% to $80.20.
• MedTech (IHI) flat at $56.77 but up 8.38% for the month.
• SMID Portfolio winners for the month: EVH up 19.38% to $36.41.HOLX up 9.11% to $86, PACB up 16.10% to $10.60, QDEL up 2.85% to $89.95,VCYT up 10% to $22.64.
• Notable miss: ABBV down 6.95% to $151.12 on Skyrizi miss, earnings beat,Neuroscience revs up

Healthcare Sector Update: MedTech Trending Up

The major market leadership thus far has been large cap tech with frequent sector rotation. Healthcare is thought to be a defensive sector but you need to balance your portfolio in comparison to other sectors.The NASDAQ-100 (QQQ) is up over 19% YTD mainly led by tech giants like AAPL, GOOGL and MSFT. Healthcare shares (XLV) rallied off March lows but are still down YTD. Almost the same trend emerged with the IBB in a tight range from March  $122 lows off $138 January highs. The S&P 500 is near the top of its expected range 0f 4200 according to many strategists with risks to the downside mainly PE compression from less earnings growth and rising rates.

Recently we have seen some positive momentum in MedTech with the IHI and yesterday. supported by revenues  from medical device blue chips Abbott( ABT), Intuitive Surgical (ISRG) and Johnson/Johnson (JNJ). Earnings from major device companies and large cap biopharma over the next 2 weeks will help us ascertain risks for the market.

****We are on vacation over the next week but will provide short updates.****

Here is our sector and ETF model with performance over one year.

LONG: ABT, ABBV, BMY, IBB, GILD, LLY, IHI, REGN,UNH,VRTX, XBI….. Also funds FSMEX and PRHSX.