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U.S. Healthcare Sector Analysis

UpdatedApr 13, 2026
DataAggregated Company Financials
Companies1390
  • 7D0.6%
  • 3M-6.7%
  • 1Y10.0%
  • YTD-5.1%

Last week, the Healthcare industry hasn't moved much but UnitedHealth Group is up 8.2% in that time. As for the the longer term, the industry is up 10% over the past 12 months. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 13 Apr 2026US$6.2tUS$3.3tUS$127.2b22.7x48.8x1.9x
Wed, 11 Mar 2026US$6.4tUS$3.3tUS$124.4b25x51.7x2x
Fri, 06 Feb 2026US$6.5tUS$3.2tUS$126.3b27x51.7x2x
Sun, 04 Jan 2026US$6.5tUS$3.2tUS$135.6b25.7x47.8x2x
Tue, 02 Dec 2025US$6.5tUS$3.2tUS$133.5b25.9x48.9x2.1x
Thu, 30 Oct 2025US$6.1tUS$3.1tUS$137.4b25.2x44.1x1.9x
Sat, 27 Sep 2025US$5.6tUS$3.1tUS$137.6b23.6x40.7x1.8x
Mon, 25 Aug 2025US$5.7tUS$3.1tUS$137.2b23.7x41.8x1.9x
Wed, 23 Jul 2025US$5.4tUS$3.0tUS$128.4b24.9x41.9x1.8x
Fri, 20 Jun 2025US$5.5tUS$3.0tUS$127.5b22.8x42.8x1.8x
Sun, 18 May 2025US$5.4tUS$3.0tUS$126.1b23.3x42.9x1.8x
Tue, 15 Apr 2025US$5.3tUS$2.6tUS$82.2b25.4x64.6x2x
Thu, 13 Mar 2025US$5.7tUS$2.6tUS$78.6b25.9x72.2x2.1x
Sat, 08 Feb 2025US$5.9tUS$2.6tUS$89.7b26.5x65.9x2.2x
Mon, 06 Jan 2025US$5.8tUS$2.9tUS$79.3b27.3x73.5x2x
Wed, 04 Dec 2024US$6.2tUS$2.9tUS$77.4b28.3x79.6x2.1x
Fri, 01 Nov 2024US$6.1tUS$2.9tUS$71.8b26.8x85.2x2.1x
Sun, 29 Sep 2024US$6.2tUS$2.9tUS$70.6b30.1x87.9x2.1x
Tue, 27 Aug 2024US$6.3tUS$2.8tUS$56.5b31.9x111.2x2.2x
Thu, 25 Jul 2024US$6.3tUS$2.8tUS$60.9b31.6x104.1x2.2x
Sat, 22 Jun 2024US$6.2tUS$2.8tUS$62.5b30x98.8x2.2x
Mon, 20 May 2024US$6.2tUS$2.8tUS$64.1b31.1x97.2x2.2x
Wed, 17 Apr 2024US$5.9tUS$2.8tUS$85.4b31.3x69.7x2.1x
Fri, 15 Mar 2024US$6.3tUS$2.8tUS$84.5b31.7x74.4x2.3x
Sun, 11 Feb 2024US$6.2tUS$2.8tUS$76.3b31.6x81x2.2x
Tue, 09 Jan 2024US$6.3tUS$2.8tUS$90.0b31.5x70.1x2.2x
Thu, 07 Dec 2023US$5.9tUS$2.8tUS$91.4b29.3x65.1x2.1x
Sat, 04 Nov 2023US$5.7tUS$2.8tUS$88.4b26.7x65x2x
Mon, 02 Oct 2023US$5.9tUS$2.8tUS$98.2b27.6x59.7x2.1x
Wed, 30 Aug 2023US$6.2tUS$2.8tUS$99.0b27.7x62.3x2.2x
Fri, 28 Jul 2023US$6.1tUS$2.7tUS$113.2b27.7x54x2.2x
Sun, 25 Jun 2023US$6.0tUS$2.7tUS$109.8b26.6x54.8x2.2x
Tue, 23 May 2023US$6.0tUS$2.7tUS$110.8b24.6x54x2.2x
Thu, 20 Apr 2023US$6.0tUS$2.5tUS$118.4b24.5x50.5x2.4x
Price to Earnings Ratio

50.5x


Total Market Cap: US$6.0tTotal Earnings: US$118.4bTotal 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 48.8x 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 grown 2.4% per year over the last three years.
  • Revenues for these companies have grown 9.6% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

US Market3.08%
Healthcare0.58%
Healthcare Services3.89%
Biotech0.24%
Pharma0.16%
Medical Equipment0.16%
Life Sciences0.037%
Healthtech-9.72%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 55.6x.
    • 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 11% 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$304.338.2%
+US$20.8b		-48.2%PE22.9x
LLY Eli LillyUS$939.471.3%
+US$11.1b		24.5%PE40.7x
CVS CVS HealthUS$79.338.3%
+US$7.8b		14.6%PE57.5x
AMGN AmgenUS$351.022.5%
+US$4.8b		19.4%PE24.6x
TMO Thermo Fisher ScientificUS$496.111.6%
+US$3.0b		10.4%PE27.5x

Latest News

ABBV
US$207.94
AbbVie
7D
0.6%
1Y
16.1%
UNH
US$304.33
UnitedHealth Group
7D
8.2%
1Y
-48.2%

UnitedHealth: Trust Is Broken - But The Model Isn't

Apr 12
ABT
US$100.30
Abbott Laboratories
7D
-2.0%
1Y
-21.6%
JNJ
US$238.46
Johnson & Johnson
7D
-1.0%
1Y
54.5%
VEEV
US$151.43
Veeva Systems
7D
-13.3%
1Y
-32.3%
EW
US$77.87
Edwards Lifesciences
7D
-4.1%
1Y
11.4%

EW: 2026 LAA Closure Expansion Will Support Upside Repricing

Analysts have nudged their fair value target for Edwards Lifesciences slightly lower to about $96.93, reflecting updated assumptions on discount rates, revenue growth, profit margins, and future P/E following a mix of recent price target cuts and raises across the Street. Analyst Commentary Recent research takes on Edwards Lifesciences point to a mixed but generally engaged stance from the Street, with both upgrades and target changes feeding into the updated fair value view.
AMGN
US$351.02
Amgen
7D
2.5%
1Y
19.4%
HCA
US$495.47
HCA Healthcare
7D
2.4%
1Y
45.5%

HCA: Georgia Medicaid SDP And AI Efficiency Efforts Will Shape Future Upside

Analysts have lifted their average HCA Healthcare price target by $50, pointing to factors such as CMS approval of Georgia's $1.9b Medicaid SDP program and expectations that AI driven efficiency gains could support higher valuation multiples over time. Analyst Commentary Recent Street research around HCA Healthcare clusters around two themes: how the Georgia Medicaid SDP approval could support earnings and how AI related efficiency efforts could influence valuation multiples over time.
LLY
US$939.47
Eli Lilly
7D
1.3%
1Y
24.5%
TMO
US$496.11
Thermo Fisher Scientific
7D
1.6%
1Y
10.4%
CVS
US$79.33
CVS Health
7D
8.3%
1Y
14.6%

CVS: Medicare Advantage Turnaround Will Support Future Earnings Recovery

Analysts have trimmed the average CVS Health price target by a few dollars to around the mid $90s. This reflects slightly softer revenue growth assumptions, modestly higher margin expectations, and updated views on Medicare Advantage and regulatory risks following recent CMS and FTC related commentary.
INSM
US$154.81
Insmed
7D
-5.5%
1Y
118.0%
SYK
US$339.15
Stryker
7D
2.1%
1Y
-4.0%

SYK: Diversified Growth Drivers And Robotics Adoption Will Support 2026 Upside

The updated analyst price target for Stryker edges slightly higher to about $425 per share, as analysts balance recent target trims with continued support from firms highlighting a healthy U.S. medtech backdrop, diversified growth drivers, and potential near term catalysts. Analyst Commentary Recent research paints a mixed but generally constructive picture for Stryker, with several firms adjusting price targets and ratings as they reassess growth drivers, execution, and valuation against a still supportive U.S. medtech backdrop.
DHR
US$189.61
Danaher
7D
-1.3%
1Y
-1.7%

Danaher: A Great Way To Play Healthcare For Long-Term Dividend Growth Investors

Apr 06
NTRA
US$193.03
Natera
7D
-5.8%
1Y
30.0%

NTRA: Molecular Residual Disease Leadership Will Drive Bullish Long Term Outlook

Analysts made a modest trim to the blended price target on Natera to about $259, reflecting slightly lower modeled revenue growth and profit margins. This adjustment comes even as several firms recently raised individual targets into the $215 to $300 range after updating their views on the company following Q4 results and new coverage initiations.
PFE
US$26.92
Pfizer
7D
-3.3%
1Y
21.7%

PFE: Obesity And Oncology Pipeline Progress Will Drive Post LOE Rerating

Analysts have nudged Pfizer's implied fair value modestly higher to about $35.33 per share, citing recent price target increases of around $1 to $3 and research that highlights contributions from its GLP-1, oncology, and hematology pipelines, while also noting the long-term patent cliff and revenue uncertainty. Analyst Commentary Recent research on Pfizer shows a split view, with some firms highlighting long term headwinds from loss of exclusivity while others point to pipeline depth and business development as potential offsets.