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U.S. Healthcare Sector Analysis

UpdatedApr 21, 2026
DataAggregated Company Financials
Companies1397
  • 7D0.5%
  • 3M-4.3%
  • 1Y15.5%
  • YTD-3.6%

In the last week, the Healthcare industry is up 1.7%, with UnitedHealth Group up 3.3%. In the last 12 months, the industry was up 16%. Earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

Has the U.S. Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 21 Apr 2026US$6.4tUS$3.3tUS$121.1b24.3x52.4x1.9x
Thu, 19 Mar 2026US$6.2tUS$3.3tUS$124.4b23x50.1x1.9x
Sat, 14 Feb 2026US$6.5tUS$3.3tUS$126.4b26.8x51.4x2x
Mon, 12 Jan 2026US$6.6tUS$3.2tUS$136.3b26.5x48.5x2.1x
Wed, 10 Dec 2025US$6.2tUS$3.2tUS$133.9b25.5x46.7x2x
Fri, 07 Nov 2025US$6.0tUS$3.2tUS$131.7b24.3x45.6x1.9x
Sun, 05 Oct 2025US$6.0tUS$3.1tUS$137.8b24.7x43.8x2x
Tue, 02 Sep 2025US$5.7tUS$3.1tUS$137.5b23.3x41.4x1.8x
Thu, 31 Jul 2025US$5.5tUS$3.1tUS$126.6b24.1x43.5x1.8x
Sat, 28 Jun 2025US$5.5tUS$3.0tUS$127.5b24.8x43.1x1.8x
Mon, 26 May 2025US$5.3tUS$3.0tUS$126.9b22.6x41.7x1.7x
Wed, 23 Apr 2025US$5.2tUS$2.7tUS$97.7b24.5x53x2x
Fri, 21 Mar 2025US$5.7tUS$2.6tUS$81.5b26.8x70.3x2.2x
Sun, 16 Feb 2025US$5.8tUS$2.6tUS$82.1b26.8x70.8x2.2x
Tue, 14 Jan 2025US$5.8tUS$2.9tUS$78.9b28.2x74x2x
Thu, 12 Dec 2024US$6.0tUS$2.9tUS$77.5b28.1x78x2.1x
Sat, 09 Nov 2024US$6.2tUS$2.9tUS$75.9b28.3x82.1x2.1x
Mon, 07 Oct 2024US$6.2tUS$2.8tUS$60.0b29.7x102.5x2.2x
Wed, 04 Sep 2024US$6.3tUS$2.8tUS$60.4b31.1x104.9x2.2x
Fri, 02 Aug 2024US$6.4tUS$2.9tUS$68.5b32.9x92.7x2.2x
Sun, 30 Jun 2024US$6.2tUS$2.8tUS$62.2b30.5x99.3x2.2x
Tue, 28 May 2024US$6.1tUS$2.8tUS$63.7b30.9x96.4x2.2x
Thu, 25 Apr 2024US$6.0tUS$2.8tUS$84.1b31.3x71.8x2.2x
Sat, 23 Mar 2024US$6.2tUS$2.8tUS$82.1b31.8x75.9x2.2x
Mon, 19 Feb 2024US$6.3tUS$2.8tUS$82.4b30.1x75.9x2.2x
Wed, 17 Jan 2024US$6.4tUS$2.8tUS$90.8b32.2x70.2x2.3x
Fri, 15 Dec 2023US$6.1tUS$2.8tUS$91.5b32.5x67.1x2.2x
Sun, 12 Nov 2023US$5.7tUS$2.8tUS$91.0b26.5x62.1x2x
Tue, 10 Oct 2023US$5.9tUS$2.8tUS$98.3b26.1x59.9x2.1x
Thu, 07 Sep 2023US$6.0tUS$2.8tUS$98.6b27.5x61x2.2x
Sat, 05 Aug 2023US$6.1tUS$2.8tUS$100.7b28.8x60.6x2.2x
Mon, 03 Jul 2023US$6.1tUS$2.7tUS$110.3b26.6x54.9x2.2x
Wed, 31 May 2023US$5.8tUS$2.7tUS$110.5b24.5x52.2x2.1x
Fri, 28 Apr 2023US$5.9tUS$2.5tUS$123.1b24.4x47.9x2.4x
Price to Earnings Ratio

47.9x


Total Market Cap: US$5.9tTotal Earnings: US$123.1bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Sector Price to Earnings3Y Average 65.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American Healthcare industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 52.4x which is lower than its 3-year average PE of 65.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 10% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare sector?

US Market3.58%
Healthcare0.51%
Healthtech8.98%
Life Sciences2.82%
Healthcare Services2.12%
Biotech1.73%
Medical Equipment-0.39%
Pharma-1.06%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 55.5x.
    • Analysts are expecting annual earnings growth of 16.1%, which is higher than its past year's earnings growth of 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 23% over the next 5 years.
  • However this is lower than its past earnings growth rate of 50% per year.
  • In contrast, the Pharma industry is expected to see its earnings grow by 12% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
UNH UnitedHealth GroupUS$323.483.3%
+US$9.5b		-23.9%PE24.4x
TMO Thermo Fisher ScientificUS$526.022.3%
+US$4.4b		24.7%PE29.2x
SMMT Summit TherapeuticsUS$25.1225.4%
+US$3.9b		-0.4%PB29.6x
RVMD Revolution MedicinesUS$146.237.3%
+US$3.7b		300.0%PB18.9x
ISRG Intuitive SurgicalUS$465.601.4%
+US$2.4b		-0.6%PE57.9x

Latest News

LLY
US$919.90
Eli Lilly
7D
-1.0%
1Y
12.5%
GILD
US$135.87
Gilead Sciences
7D
-2.3%
1Y
30.2%
RVMD
US$146.23
Revolution Medicines
7D
7.3%
1Y
300.0%
HCA
US$478.13
HCA Healthcare
7D
-3.9%
1Y
50.5%

HCA Healthcare's Health Check-Up Reveals Opportunity As Earnings Near

Apr 20
MRK
US$117.10
Merck
7D
-2.5%
1Y
50.4%
TMO
US$526.02
Thermo Fisher Scientific
7D
2.3%
1Y
24.7%

Thermo Fisher: Great Business Still Trading At A Risky Price Before Earnings

Apr 20
UNH
US$323.48
UnitedHealth Group
7D
3.3%
1Y
-23.9%

Buy UnitedHealth Ahead Of Earnings (Preview)

Apr 20
ISRG
US$465.60
Intuitive Surgical
7D
1.4%
1Y
-0.6%

ISRG: Future Policy Shifts And Platform Adoption Will Shape Premium Multiple

Analysts have trimmed the price target for Intuitive Surgical by about $16 to reflect a slightly higher discount rate and lower assumed future P/E multiple, while maintaining expectations for double digit revenue growth and resilient profit margins supported by a mix of recent target cuts and upgrades across the Street. Analyst Commentary Recent Street research on Intuitive Surgical shows a mix of trimmed price targets and a few upgrades, with most of the action centered on valuation reset rather than drastic changes to fundamental views.
BMY
US$59.13
Bristol-Myers Squibb
7D
1.8%
1Y
20.8%

BMY: Pipeline Progress And Sector Shifts Will Shape Future Risk Balance

Analysts have raised the implied fair value for Bristol-Myers Squibb to $63.04 from $59.91, reflecting a series of recent price target increases based on slightly less severe revenue contraction expectations, a modest improvement in projected profit margins, and support from pipeline-related research updates across multiple firms. Analyst Commentary Recent research has focused on how Bristol-Myers Squibb balances patent expirations on key products with progress in its pipeline and late stage programs, and how that mix feeds into valuation, execution risk, and potential growth beyond current revenue headwinds.
ABT
US$96.00
Abbott Laboratories
7D
-4.7%
1Y
-26.1%
JNJ
US$230.69
Johnson & Johnson
7D
-3.1%
1Y
47.0%

Johnson & Johnson: Why I See Downside Ahead

Apr 17
HIMS
US$31.01
Hims & Hers Health
7D
46.6%
1Y
20.0%

HIMS: Renewed GLP 1 Partnership Will Face Lingering Regulatory And Execution Risks

The analyst price target for Hims & Hers Health increases slightly to $24.31 from $24.15 as analysts factor in easing peptide restrictions, reduced litigation risk and the renewed Novo Nordisk partnership, along with updated assumptions for future P/E and profitability. Analyst Commentary Recent research on Hims & Hers Health clusters around two themes: renewed optimism tied to the Novo Nordisk partnership and easing peptide restrictions, and lingering concerns around GLP-1 execution, earnings quality, and legal or regulatory risk.
ABBV
US$203.71
AbbVie
7D
-1.3%
1Y
19.7%
BNTX
US$105.19
BioNTech
7D
8.8%
1Y
3.3%
MDT
US$85.00
Medtronic
7D
-3.4%
1Y
3.9%
SMMT
US$25.12
Summit Therapeutics
7D
25.4%
1Y
-0.4%