Implant Makers, Dental Stocks Rally Amid Bets on Surgery Return
- Knee replacement makers and dental stocks boom on optimism
- Hospitals broadly rally on view that patients will return
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Investors piled back into medical devicemakers, dental stocks and hospitals after promising results from a trial of Pfizer Inc. and BioNTech SE’s Covid-19 vaccine reawakened hopes that patients in need of non-essential procedures would return to their doctor’s office.
Knee and hip replacement makers like Zimmer Biomet Holdings Inc. and Stryker Corp. surged on expectations that surgeries would return to normal while dental stocks Dentsply Sirona Inc. and Henry Schein Inc. posted double-digit gains on optimism that a return to the dentist would spur new technology purchases. Hospital stocks like bellwether HCA Healthcare Inc. and Tenet Healthcare Corp. rallied on hopes that the vaccine would spur more lucrative patient visits.