Surgical & Medical Instruments & Apparatus
56 US-listed companies SIC 3841 · all industries
How much this is one bet
20% of the closest matches for a typical Surgical & Medical Instruments & Apparatus company are other Surgical & Medical Instruments & Apparatus companies. That is low, which means the label is doing less work than it looks like: these companies are classified together but do not move together.
How the industry moves
Measured from one year of daily returns. Rate sensitivity is the median correlation between a company's daily return and the daily change in the 10-year Treasury yield: positive means the industry tends to rise on days yields rise. It is a correlation, not a forecast, and a low number over one year is a statement about this year.
On the public record
Insider filings Congressional trades Short interest Institutional holdings
The companiesall of them
| Ticker | Company | Traded per day | Beta | Days to cover |
|---|---|---|---|---|
| BSX | Boston Scientific Corporation | $932.1M | 0.19 | 1.6 |
| SYK | Stryker Corporation | $783.8M | 0.19 | 3.2 |
| MMM | 3M Company | $528.4M | 0.76 | 3.7 |
| DXCM | DexCom, Inc. | $359.8M | 0.65 | 2.9 |
| BDX | Becton, Dickinson and Company | $358.1M | 0.35 | 4.8 |
| RMD | ResMed Inc. | $278.7M | 0.45 | 7.4 |
| WST | West Pharmaceutical Services, Inc. | $241.2M | 0.65 | 4.1 |
| PODD | Insulet Corporation | $217.3M | 0.30 | 1.8 |
| BAX | Baxter International Inc. | $132.5M | 1.17 | 3.0 |
| GMED | Globus Medical, Inc. Class A | $124.6M | 0.79 | 4.0 |
| GKOS | Glaukos Corporation | $117.2M | 0.84 | 5.2 |
| PEN | Penumbra, Inc. | $116.2M | 0.02 | 7.0 |
| SOLV | Solventum Corporation | $106.0M | 0.63 | 2.5 |
| TFX | Teleflex Incorporated | $79.2M | 0.76 | 6.4 |
| IRTC | iRhythm Holdings, Inc. | $61.5M | 0.63 | 3.3 |
| MMSI | Merit Medical Systems, Inc. | $54.9M | 0.46 | 2.8 |
| HAE | Haemonetics Corporation | $52.5M | 0.11 | 3.1 |
| UFPT | UFP Technologies, Inc. | $48.1M | 1.31 | 4.8 |
| INSP | Inspire Medical Systems, Inc. | $42.7M | 1.10 | 5.2 |
| ICUI | ICU Medical, Inc. | $39.0M | 1.10 | 3.6 |
| TNDM | Tandem Diabetes Care, Inc. | $35.7M | 1.05 | 3.9 |
| PRCT | PROCEPT BioRobotics Corporation | $31.5M | 0.87 | 3.5 |
| LMAT | LeMaitre Vascular, Inc. | $26.4M | 0.47 | 2.8 |
| ATRC | AtriCure, Inc. | $24.4M | 0.55 | 6.1 |
| ATEC | Alphatec Holdings, Inc. | $22.4M | 0.95 | 4.8 |
| NVCR | NovoCure Limited | $22.0M | 1.60 | 8.4 |
| AORT | Artivion, Inc. | $15.7M | 0.30 | 3.2 |
| IART | Integra LifeSciences Holdings Corporation | $14.7M | 1.97 | 10.0 |
| IRMD | iRadimed Corporation | $11.1M | 0.63 | 4.8 |
| SIBN | SI-BONE, Inc. | $7.5M | 0.65 | 10.9 |
| PLSE | Pulse Biosciences, Inc | $7.2M | 2.13 | 6.4 |
| DRTS | Alpha Tau Medical Ltd. | $7.2M | 2.12 | 6.1 |
| CLPT | ClearPoint Neuro Inc. | $7.1M | 1.74 | 5.9 |
| STVN | Stevanato Group S.p.A. Ordinary Shares | $6.6M | 1.19 | 1.9 |
| BVS | Bioventus Inc. | $6.6M | 0.62 | 2.3 |
| TCMD | Tactile Systems Technology, Inc. | $6.4M | 0.70 | 6.0 |
| EMBC | Embecta Corp. | $6.1M | 0.45 | 2.5 |
| CERS | Cerus Corporation | $5.9M | 1.48 | 5.1 |
| DCTH | Delcath Systems, Inc. | $5.0M | 1.33 | 2.3 |
| MDXG | MiMedx Group, Inc | $4.9M | 0.94 | 6.9 |
| ANGO | AngioDynamics, Inc. | $4.3M | 0.97 | 2.5 |
| OFIX | Orthofix Medical Inc. | $3.6M | 0.74 | 4.3 |
| PDEX | Pro-Dex, Inc. | $3.5M | 1.14 | 2.1 |
| KIDS | OrthoPediatrics Corp. | $3.0M | 0.90 | 2.9 |
| QTEX | QTREX Quantum Ltd. | $2.7M | 3.73 | 2.5 |
| NPCE | Neuropace, Inc. | $2.7M | 1.42 | 3.3 |
| STIM | Neuronetics, Inc. | $2.6M | 2.01 | 1.6 |
| OSUR | OraSure Technologies, Inc. | $2.0M | 1.14 | 6.1 |
| MBOT | Microbot Medical Inc. | $1.9M | 1.85 | 8.1 |
| TMCI | Treace Medical Concepts, Inc. | $1.8M | 1.64 | 3.0 |
| BWAY | BrainsWay Ltd. | $1.7M | 1.95 | 1.0 |
| CVRX | CVRx, Inc. | $1.5M | 0.85 | 1.0 |
| INFU | InfuSystems Holdings, Inc. | $1.4M | 1.21 | 3.2 |
| ANIK | Anika Therapeutics Inc. | $1.2M | 0.67 | 2.3 |
| SNWV | SANUWAVE Health, Inc. | $1.2M | 1.11 | 2.8 |
| GUTS | Fractyl Health, Inc. | $1.1M | 2.19 | 2.7 |
What “one bet” means, and how it is measured
For every security this site computes its closest matches across the whole market, by one-year daily-return correlation. Cohesion asks a simple question of that: of the ten closest matches for each company in this industry, what share are also in this industry?
A high number means the classification is doing real work — these companies genuinely move together, and the industry is closer to a single position than to a set of independent ones. Trucking, shipping, homebuilders and airlines sit at the top of that measure, which is what anyone who has held two of them would tell you.
A low number means the opposite: the SEC's code groups them, but the market does not. That is worth knowing before treating an industry label as a diversification plan.
Where these numbers come from
- The classification is the SEC's own Standard Industrial Classification, taken from each company's filings. It is coarse and occasionally odd — it was designed in 1937 and last seriously revised in 1987 — but it is the official one, it is public, and it is not somebody's proprietary sector scheme.
- Volatility, beta, rate and volatility sensitivity, and cohesion are computed here from daily returns. They are derived statistics; no price or return series is published anywhere on this site.
- Everything under “on the public record” is a count or a sum of filings — Form 4, the STOCK Act, Form 13F, FINRA short interest, USASpending awards, SEC financial statements. As filed.
What is deliberately absent
No index, no sector return, no performance figure. Aggregating company returns into an industry return would be republishing the licensed price history in a thin disguise, and it would also be wrong — there is no defensible weighting to choose. The statistics here are all invariant to that problem: a median, a correlation, a count, or a sum of filed figures.
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