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U.S. Healthcare Services Industry Analysis

UpdatedMay 26, 2026
DataAggregated Company Financials
Companies165
  • 7D-0.3%
  • 3M17.7%
  • 1Y16.3%
  • YTD8.6%

Last week, the Healthcare Services industry hasn't moved much but Guardant Health is up 21% in that time. The past year has been better, since the industry has gained 16% in that time. Earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 26 May 2026US$988.8bUS$2.2tUS$30.0b24.6x33x0.4x
Thu, 23 Apr 2026US$894.9bUS$2.2tUS$27.6b23.3x32.4x0.4x
Sat, 21 Mar 2026US$806.3bUS$2.2tUS$27.8b21.2x29x0.4x
Mon, 16 Feb 2026US$869.1bUS$2.2tUS$28.8b23.6x30.2x0.4x
Wed, 14 Jan 2026US$923.0bUS$2.1tUS$34.8b23.1x26.5x0.4x
Fri, 12 Dec 2025US$893.2bUS$2.1tUS$34.9b23.7x25.6x0.4x
Sun, 09 Nov 2025US$884.7bUS$2.1tUS$34.7b21.5x25.5x0.4x
Tue, 07 Oct 2025US$929.8bUS$2.1tUS$49.3b21.3x18.8x0.4x
Thu, 04 Sep 2025US$861.3bUS$2.1tUS$49.3b20.9x17.5x0.4x
Sat, 02 Aug 2025US$752.9bUS$2.1tUS$49.0b20.3x15.4x0.4x
Mon, 30 Jun 2025US$887.7bUS$2.1tUS$52.7b22.1x16.8x0.4x
Wed, 28 May 2025US$853.4bUS$2.1tUS$52.5b19.5x16.2x0.4x
Fri, 25 Apr 2025US$932.7bUS$1.7tUS$49.4b23.3x18.9x0.5x
Sun, 23 Mar 2025US$1.0tUS$1.7tUS$41.5b23.3x24.6x0.6x
Tue, 18 Feb 2025US$1.0tUS$1.7tUS$41.2b23.3x25x0.6x
Thu, 16 Jan 2025US$1.1tUS$2.0tUS$42.2b23.3x25.3x0.5x
Sat, 14 Dec 2024US$1.0tUS$2.0tUS$41.4b22.9x25x0.5x
Mon, 11 Nov 2024US$1.2tUS$2.0tUS$41.4b25.4x28.5x0.6x
Wed, 09 Oct 2024US$1.2tUS$1.9tUS$43.4b24.3x27.1x0.6x
Fri, 06 Sep 2024US$1.2tUS$1.9tUS$43.3b26.6x28.6x0.6x
Sun, 04 Aug 2024US$1.2tUS$1.9tUS$43.1b27x28x0.6x
Tue, 02 Jul 2024US$1.1tUS$1.9tUS$43.4b24.2x25.4x0.6x
Thu, 30 May 2024US$1.1tUS$1.9tUS$43.3b26.1x25x0.6x
Sat, 27 Apr 2024US$1.1tUS$1.9tUS$42.7b25.9x25.9x0.6x
Mon, 25 Mar 2024US$1.1tUS$1.8tUS$49.6b24.2x22.7x0.6x
Wed, 21 Feb 2024US$1.1tUS$1.8tUS$49.9b24.8x23x0.6x
Fri, 19 Jan 2024US$1.1tUS$1.8tUS$50.8b24.5x22.4x0.6x
Sun, 17 Dec 2023US$1.1tUS$1.8tUS$51.2b22.7x22.4x0.6x
Tue, 14 Nov 2023US$1.2tUS$1.8tUS$51.2b21.5x22.5x0.6x
Thu, 12 Oct 2023US$1.1tUS$1.8tUS$46.9b22.7x24.1x0.6x
Sat, 09 Sep 2023US$1.1tUS$1.8tUS$46.8b22.3x23.2x0.6x
Mon, 07 Aug 2023US$1.1tUS$1.8tUS$46.4b22.1x24.4x0.6x
Wed, 05 Jul 2023US$1.1tUS$1.7tUS$46.1b23.3x23.8x0.6x
Fri, 02 Jun 2023US$1.1tUS$1.7tUS$45.7b22.2x24x0.6x
Price to Earnings Ratio

24x


Total Market Cap: US$1.1tTotal Earnings: US$45.7bTotal Revenue: US$1.7tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Services Industry Price to Earnings3Y Average 24.1x202420252026
Current Industry PE
  • Investors are optimistic on the American Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 33.0x which is higher than its 3-year average PE of 24.1x.
  • The industry is trading close to its 3-year average PS ratio of 0.54x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 13% per year over the last three years.
  • Meanwhile revenues for these companies have grown 9.3% 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, which has decreased profits.

Industry Trends

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

US Market1.21%
Healthcare3.12%
Healthcare Services-0.34%
Healthcare Distributors4.01%
Managed Healthcare-0.20%
Healthcare Services-0.52%
Healthcare Facilities-4.41%
Industry PE
  • Investors are most optimistic about the Managed Healthcare industry which is trading above its 3-year average PE ratio of 23.0x.
    • Analysts are expecting annual earnings growth of 19.2%, which is higher than its past year's earnings decline of 11.4% per year.
  • Investors are most pessimistic about the Healthcare Facilities industry, which is trading close to its 3-year average of 19.6x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 20% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Healthcare Distributors industry is expected to see its earnings grow by 8.1% 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
GH Guardant HealthUS$118.9521.1%
+US$2.8b		203.7%PS14.6x
COR CencoraUS$274.913.3%
+US$1.7b		-6.3%PE21x
DGX Quest DiagnosticsUS$195.212.5%
+US$533.6m		12.4%PE21.2x
LH Labcorp HoldingsUS$259.932.5%
+US$511.7m		4.9%PE22.6x
MCK McKessonUS$766.080.5%
+US$503.7m		6.3%PE19.3x

Latest News

GH
US$118.95
Guardant Health
7D
21.1%
1Y
203.7%
CVS
US$93.26
CVS Health
7D
-1.0%
1Y
52.0%
MCK
US$766.08
McKesson
7D
0.5%
1Y
6.3%
BTSG
US$58.50
BrightSpring Health Services
7D
3.1%
1Y
150.2%
Narrative Update • May 25

BTSG: Acquisition Integration And Generic Conversion Execution Will Drive Future Upside Potential

Analysts have raised the BrightSpring Health Services price target to $70 from $60, citing remaining generic drug conversion potential, recent earnings beats, and increased confidence in management execution as key factors supporting the higher valuation framework. Analyst Commentary Recent research updates point to a clear pattern of bullish analysts lifting their valuation frameworks for BrightSpring Health Services, with several price targets now clustered in the US$48 to US$70 range.
ELV
US$394.69
Elevance Health
7D
-1.9%
1Y
5.0%
HIMS
US$23.75
Hims & Hers Health
7D
6.6%
1Y
-56.7%
Narrative Update • May 24

HIMS: Renewed GLP 1 Partnership Will Drive Future Cash Pay Opportunity

Analysts have lifted their blended price target on Hims & Hers Health to $26.82 from $24.31, reflecting updated revenue and valuation assumptions following recent research that highlights both higher modeled growth and ongoing margin and GLP-1 transition risks. Analyst Commentary Recent research on Hims & Hers Health shows a wide range of views, with some analysts focusing on new partnerships and product opportunities while others stress margin, regulatory and execution risks.
HCA
US$394.07
HCA Healthcare
7D
-2.6%
1Y
4.0%
LH
US$259.93
Labcorp Holdings
7D
2.5%
1Y
4.9%
CI
US$286.24
Cigna Group
7D
-1.7%
1Y
-9.2%
DGX
US$195.21
Quest Diagnostics
7D
2.5%
1Y
12.4%
COR
US$274.91
Cencora
7D
3.3%
1Y
-6.3%
HQY
US$88.11
HealthEquity
7D
4.1%
1Y
-12.9%
Seeking Alpha • May 22

HealthEquity: Compounding Flywheel Reveals Attractive Entry Point

Summary HealthEquity is a leading HSA administrator, benefiting from rising healthcare costs and recent legislative tailwinds expanding its addressable market. Revenue grew 9% in FY2026 to $1.313 billion, with significant margin expansion and a standout 17% growth in custodial revenue driven by enhanced rate migration. Management projects further yield increases in FY2027, and a major low-yield contract expiry is set to boost custodial revenue meaningfully. I recommend a buy rating on HQY with a $115 price target, reflecting a 40% upside, supported by catalysts, margin gains, and share buybacks. Read the full article on Seeking Alpha
UNH
US$388.47
UnitedHealth Group
7D
-0.2%
1Y
31.7%
GMRS
US$11.01
GMR Solutions
7D
-17.7%
1Y
n/a
UHS
US$157.80
Universal Health Services
7D
-5.2%
1Y
-18.0%
Narrative Update • May 14

UHS: 2026 EBITDA Outlook And Buybacks Will Support Future Upside

The analyst price target for Universal Health Services is updated lower to about $277 from roughly $302 as analysts factor in weaker acute segment trends, slightly softer growth and margin expectations, a higher discount rate, and a lower assumed future P/E multiple. Analyst Commentary Recent research updates on Universal Health Services are mixed, but there are some clear positive threads you should keep in mind as you assess the stock.
THC
US$173.78
Tenet Healthcare
7D
-9.2%
1Y
5.3%
Narrative Update • May 10

THC: Buybacks And Higher Acuity Demand Will Offset Cautious 2026 Margin Expectations

Tenet Healthcare's updated analyst price target has moved from $228.45 to $210.00 as analysts factor in a slightly higher discount rate, modestly adjusted revenue and margin assumptions, and lower future P/E expectations following a series of recent target cuts across the Street. Analyst Commentary Recent Street research around Tenet Healthcare reflects a clear shift toward more cautious positioning, with several bearish analysts trimming price targets and reassessing assumptions for valuation and execution risk.