医疗耗材行业周报：耗材板块行情震荡，关注绩优股长期表现

Investment Rating - The industry rating for the medical consumables sector is "Overweight" (maintained) [5][20]. Core Insights - The medical consumables sector has experienced a significant downturn, with a 7.06% decline last week, reflecting broader market trends [2][9]. - The current Price-to-Earnings (PE) ratio for the medical consumables sector is 34.74X, down 2.62 percentage points from the previous week, indicating that valuations are still at historical lows [3][16]. - The sector's overall revenue growth exceeded 10% year-on-year in the first half of 2024, suggesting a solid fundamental outlook despite recent market volatility [4][19]. Summary by Sections Market Performance - The medical consumables sector reported a 7.06% decline last week, underperforming compared to other segments within the medical industry [2][9]. - The sector's PE ratio has decreased to 34.74X, while the Price-to-Book (PB) ratio stands at 2.44X, both indicating low valuations historically [3][16]. Industry Dynamics - A new initiative for promoting high-end medical equipment was launched, focusing on five key areas including diagnostic testing and AI-assisted diagnosis [17][18]. - The sector is witnessing a recovery in demand as medical institutions resume full operations, which is expected to support long-term growth [6][20]. Investment Recommendations - The report suggests focusing on high-quality stocks in the interventional and electrophysiological segments, which have shown robust performance and growth potential [4][20]. - Attention is also drawn to low-value consumables that are beginning to recover from high inventory levels caused by pandemic-related exports [4][20].