Healthcare stocks jump amid hope of returning surgical volumes

Healthcare stocks rallied Nov. 9 after promising results from a COVID-19 vaccine boosted hope that nonessential procedure volumes will return more quickly to hospitals and medical offices, according to Bloomberg

Among the stocks that surged were Zimmer Biomet and Stryker, which make devices for hip and knee replacements, as well as dental devicemakers Dentsply Sirona and Henry Schein.

In addition, Nashville, Tenn.-based HCA Healthcare and Dallas-based Tenet Healthcare saw their stocks increase amid hopes that the vaccine would allow the volume of lucrative nonessential surgeries to return.

The promising vaccine candidate, from Pfizer and BioNTech, was found to be more than 90 percent effective at preventing COVID-19 in an interim analysis of a late-stage clinical trial, the drugmakers said Nov. 9.

The pandemic had thrown into question what normal procedure volumes would look like for hospitals and other medical providers. 

 

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