MDEV - ETF AI Analysis

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First Trust Indxx Medical Devices ETF (MDEV)

Rating:66Neutral

Price Target:―

The First Trust Indxx Medical Devices ETF (MDEV) has a solid overall rating, reflecting a strong foundation of high-performing holdings in the medical devices sector. Globus Medical (GMED) stands out as a key contributor due to its robust financial performance, strategic growth initiatives, and successful acquisitions. Intuitive Surgical (ISRG) also adds strength with its strong operational metrics and strategic initiatives, though risks like high valuation and international challenges temper its impact. However, holdings like Mettler-Toledo (MTD), which faces balance sheet weaknesses and valuation concerns, slightly weigh on the ETF's overall rating. A potential risk for the fund is its concentration in the medical devices sector, which could make it vulnerable to industry-specific challenges.

Positive Factors

Strong Top Holdings

Several top holdings, such as HOYA and Exact Sciences, have delivered strong year-to-date performance, supporting the ETF’s overall returns.

Global Diversification

The ETF includes exposure to multiple countries outside the U.S., such as Japan, Germany, and France, which adds geographic diversification.

Focused Sector Exposure

With nearly all assets in the health care sector, the ETF targets a high-growth industry with long-term demand potential.

Negative Factors

Underperforming Holdings

Several top holdings, including Teleflex and Globus Medical, have lagged in year-to-date performance, dragging on the fund’s momentum.

High Sector Concentration

The ETF is heavily concentrated in the health care sector, which increases vulnerability to industry-specific risks.

Above-Average Expense Ratio

The ETF’s expense ratio is higher than many similar funds, which could reduce net returns for investors over time.

MDEV vs. SPDR S&P 500 ETF (SPY)

AUM2.13M

RegionGlobal

Expense Ratio0.70%

Beta0.74

IssuerFirst Trust

Inception DateJun 22, 2021

Dividend YieldN/A

Asset ClassEquity

Index TrackedIndxx Global Medical Equipment Index

Share Statistics

EPS (TTM)N/A

Shares OutstandingN/A

10 Day Avg. Volume184

30 Day Avg. Volume336

Financial Highlights & Ratios

PEG RatioN/A

Price to Book (P/B)N/A

Price to Sales (P/S)N/A

P/FCF RatioN/A

Enterprise Value/Market CapN/A

Enterprise Value/RevenueN/A

Enterprise Value/Gross ProfitN/A

Enterprise Value/EbitdaN/A

Forecast

1Y Price Target

24.01

Price Target Upside― Downside

Rating ConsensusModerate Buy

Number of Analyst Covering49

EPS Forecast (FY)N/A

Revenue Forecast (FY)N/A

MDEV Summary

The First Trust Indxx Medical Devices ETF (MDEV) is an investment fund that focuses on companies in the medical devices industry, which is part of the health care sector. It tracks the Indxx Global Medical Equipment Index and includes businesses that develop innovative tools like diagnostic equipment and surgical devices. Well-known companies in the ETF include Zimmer Biomet Holdings and Teleflex. Investors might consider MDEV for its potential growth, driven by aging populations and advancements in health care technology. However, new investors should be aware that the ETF’s performance is closely tied to the health care sector, which can be affected by regulatory changes and market conditions.

How much will it cost me?The First Trust Indxx Medical Devices ETF (MDEV) has an expense ratio of 0.7%, which means you’ll pay $7 per year for every $1,000 invested. This is higher than average because it is actively managed to focus on a specialized niche in the health care sector, requiring more research and management effort. While it costs more, it provides targeted exposure to innovative medical device companies.

What would affect this ETF?The First Trust Indxx Medical Devices ETF (MDEV) could benefit from positive trends such as aging populations, increasing global health care spending, and ongoing advancements in medical technology, which drive demand for innovative medical devices. However, potential risks include regulatory changes, rising interest rates that could impact borrowing costs for companies in the sector, and global economic slowdowns that may reduce health care budgets. As a globally focused ETF with exposure to leading medical device companies like Sartorius Stedim Biotech and HOYA, its performance will also depend on international market conditions and currency fluctuations.

MDEV Top 10 Holdings

The First Trust Indxx Medical Devices ETF (MDEV) is heavily concentrated in the health care equipment sector, showcasing a global mix of innovative companies driving advancements in medical technology. Exact Sciences and Steris are rising stars, benefiting from strong revenue growth and strategic initiatives, while Align Tech is lagging due to economic uncertainties and competitive pressures. Intuitive Surgical and Thermo Fisher offer steady performance, bolstered by robust profitability and strategic collaborations, though high valuations may limit upside. Overall, the fund’s focus on medical devices positions it well for long-term growth, despite mixed results among its top holdings.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
EXAS	Exact Sciences	3.29%	$69.43K	$19.26B	67.08%	70 Outperform
GMED	Globus Medical	2.89%	$61.12K	$11.67B	5.19%	82 Outperform
ALGN	Align Tech	2.48%	$52.44K	$11.87B	-28.10%	74 Outperform
ISRG	Intuitive Surgical	2.39%	$50.44K	$192.25B	0.06%	78 Outperform
COO	Cooper Co	2.26%	$47.85K	$16.09B	-12.66%	76 Outperform
PEN	Penumbra	2.26%	$47.74K	$12.22B	26.20%	78 Outperform
GEHC	GE Healthcare Technologies Inc	2.23%	$47.19K	$38.25B	4.57%	74 Outperform
WAT	Waters	2.19%	$46.24K	$22.94B	3.03%	70 Outperform
RVTY	Revvity	2.15%	$45.42K	$11.39B	-12.75%	67 Neutral
EW	Edwards Lifesciences	2.12%	$44.78K	$48.21B	12.41%	79 Outperform

MDEV Technical Analysis

Technical Analysis Sentiment

Positive

Last Price―

Price Trends

50DMA

20.76

Positive

100DMA

20.53

Positive

200DMA

20.31

Positive

Market Momentum

MACD

0.12

Positive

RSI

54.14

Neutral

STOCH

66.10

Neutral

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For MDEV, the sentiment is Positive. The current price of undefined is equal to the 20-day moving average (MA) of 21.02, equal to the 50-day MA of 20.76, and equal to the 200-day MA of 20.31, indicating a bullish trend. The MACD of 0.12 indicates Positive momentum. The RSI at 54.14 is Neutral, neither overbought nor oversold. The STOCH value of 66.10 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MDEV.

MDEV Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
MDEV	―	―	$2.13M	0.70%	―
FMED	―	―	$64.46M	0.50%	―
HTEC	―	―	$53.78M	0.68%	―
HRTS	―	―	$52.87M	0.75%	―
HEAL	―	―	$48.68M	0.50%	―
OZEM	―	―	$44.95M	0.59%	―

Performance Comparison

MDEV

First Trust Indxx Medical Devices ETF

21.13

<0.01

0.05%

FMED

Fidelity Disruptive Medicine ETF

―

HTEC

ROBO Global Healthcare Technology and Innovation ETF

―

HRTS

Tema Cardiovascular and Metabolic ETF

―

HEAL

Global X HealthTech ETF

―

OZEM

Roundhill GLP-1 & Weight Loss ETF

―

Glossary

BuyAn ETF rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF is likely to deliver higher returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldAn ETF rated as a "Hold" s expected to perform in line with the overall market or a specific benchmark. This rating indicates that the ETF is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellAn ETF rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the ETF may deliver lower returns compared to other ETFs in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst ETF Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in ETFs carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: ―

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