One example of the aforementioned dichotomy is Cutera Inc. versus Vapotherm Inc. (Figure 1). The former specializes in devices used in cosmetic surgery and has declined 48% from February 28 to May 19. In contrast, Vapotherm, which specializes in products used to treat respiratory distress, has seen a 176% return over the same period. Vapotherm’s oxygen controller was awarded ‘breakthrough device’ status by the FDA on April 9.

Figure 1. Performance of Vapotherm, Inc. and Cutera, Inc. alongside the S&P 500 Total Return and the Health Care Sector SPDR (XLV)

^{Source: S&P Global Market Intelligence Quantamental Research. Data as of May 20, 2020.}

Please access the complete list of Quantamental Research Briefs for the latest on COVID-19’s impact.