MDEV - ETF AI Analysis

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First Trust Indxx Medical Devices ETF (MDEV)

Rating:66Neutral

Price Target:―

MDEV, the First Trust Indxx Medical Devices ETF, earns a solid rating largely because many of its key holdings—such as Globus Medical, Penumbra, Intuitive Surgical, Cooper, and Danaher—show strong financial performance, positive earnings calls, and strategic growth initiatives that support long-term prospects. However, several top positions, including Exact Sciences, Revvity, Thermo Fisher, and Waters, face profitability, valuation, or cash flow concerns, and the fund’s focus on medical devices means investors are exposed to sector-specific risks like overvaluation and challenges in important markets such as China.

Positive Factors

Broad Global Exposure Within Medical Devices

Holdings spread across the U.S., Europe, and Asia help reduce the impact of weakness in any single country’s market.

Generally Positive Recent Performance

The ETF has shown steady gains over the past month, three months, and year to date, indicating supportive recent momentum.

Multiple Strong Top Holdings

Several of the largest positions, such as Globus Medical, Penumbra, Align Technology, Revvity, Thermo Fisher, and Danaher, have delivered strong year-to-date performance that supports the fund’s returns.

Negative Factors

High Sector Concentration in Health Care

With almost all assets in the health care sector, the fund is heavily exposed to swings in medical device and health-related markets.

Relatively High Expense Ratio

The fund’s expense ratio is on the higher side for an ETF, which can eat into long-term returns compared with lower-cost options.

Mixed Performance Among Top Holdings

Some key positions, such as Intuitive Surgical and a few others with only modest gains, have lagged the stronger names and may drag on overall performance if this continues.

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

AUM2.13M

RegionGlobal

Expense Ratio0.70%

Beta0.72

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. Volume220

30 Day Avg. Volume420

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

24.26

Price Target Upside― Downside

Rating ConsensusModerate Buy

Number of Analyst Covering49

EPS Forecast (FY)N/A

Revenue Forecast (FY)N/A

MDEV Summary

MDEV is the First Trust Indxx Medical Devices ETF, which follows the Indxx Global Medical Equipment Index. It invests in companies that make medical devices and tools used in hospitals and clinics, from diagnostic equipment to surgical systems. Well-known holdings include Intuitive Surgical and Thermo Fisher, both leaders in medical technology. Someone might invest in MDEV to benefit from the long-term growth of health care and medical innovation, supported by aging populations and rising health spending. A key risk is that it is heavily focused on health care equipment, so its price can swing if this niche sector falls out of favor.

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

MDEV is a pure play on global medical devices, with performance leaning heavily on a handful of rising innovators. Penumbra, Revvity, Globus Medical, and Align Tech have been powering the fund lately, riding strong momentum and upbeat earnings as demand for advanced surgical and diagnostic tools grows. Exact Sciences is also contributing, though its story is more mixed given ongoing profitability questions. On the flip side, Intuitive Surgical has been losing a bit of steam recently, acting as a mild drag, but no single stock dominates, keeping name-specific risk in check.

Name	Company Name	Weight %	Market Value	Market Cap	Yearly Gain	Overall Rating
EXAS	Exact Sciences	3.29%	$69.95K	$19.56B	84.10%	70 Outperform
GMED	Globus Medical	3.07%	$65.23K	$12.52B	1.09%	82 Outperform
PEN	Penumbra	2.58%	$54.97K	$14.08B	32.56%	78 Outperform
ALGN	Align Tech	2.51%	$53.49K	$12.03B	-25.87%	74 Outperform
RVTY	Revvity	2.48%	$52.76K	$13.00B	-7.54%	67 Neutral
ISRG	Intuitive Surgical	2.29%	$48.73K	$187.46B	-7.79%	78 Outperform
7741	HOYA	2.26%	$48.00K	¥8.38T	11.98%	74 Outperform
TMO	Thermo Fisher	2.24%	$47.57K	$235.43B	7.24%	72 Outperform
COO	Cooper Co	2.23%	$47.39K	$15.85B	-18.65%	77 Outperform
WAT	Waters	2.21%	$47.08K	$23.28B	-5.68%	70 Outperform

MDEV Technical Analysis

Technical Analysis Sentiment

Neutral

Last Price―

Price Trends

50DMA

21.17

Negative

100DMA

20.81

Positive

200DMA

20.48

Positive

Market Momentum

MACD

0.03

Positive

RSI

44.13

Neutral

STOCH

14.07

Positive

Evaluating momentum and price trends is crucial in ETF analysis to make informed investment decisions. For MDEV, the sentiment is Neutral. The current price of undefined is equal to the 20-day moving average (MA) of 21.40, equal to the 50-day MA of 21.17, and equal to the 200-day MA of 20.48, indicating a neutral trend. The MACD of 0.03 indicates Positive momentum. The RSI at 44.13 is Neutral, neither overbought nor oversold. The STOCH value of 14.07 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for MDEV.

MDEV Peer Comparison

Comparison Results

Name	Price	Price Target	AUM	Expense Ratio	Overall Rating
MDEV	―	―	$2.13M	0.70%	―
FMED	―	―	$65.63M	0.50%	―
HRTS	―	―	$58.08M	0.75%	―
HTEC	―	―	$57.28M	0.68%	―
OZEM	―	―	$56.02M	0.59%	―
HEAL	―	―	$40.11M	0.50%	―

Performance Comparison

MDEV

First Trust Indxx Medical Devices ETF

21.08

-1.12

-5.05%

FMED

Fidelity Disruptive Medicine ETF

―

HRTS

Tema Cardiovascular and Metabolic ETF

―

HTEC

ROBO Global Healthcare Technology and Innovation ETF

―

OZEM

Roundhill GLP-1 & Weight Loss ETF

―

HEAL

Global X HealthTech 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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