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U.S. Healthcare Services Industry Analysis

UpdatedSep 25, 2025
DataAggregated Company Financials
Companies160
  • 7D2.8%
  • 3M3.4%
  • 1Y-21.6%
  • YTD-7.5%

In the last week, the Healthcare Services industry is up 2.8%, with UnitedHealth Group leading the way, up 3.0%. However, the industry is down 22% over the past year. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Sep 2025US$899.9bUS$2.1tUS$49.3b21.3x18.3x0.4x
Sat, 23 Aug 2025US$846.2bUS$2.1tUS$49.3b21.3x17.2x0.4x
Mon, 21 Jul 2025US$787.8bUS$2.1tUS$52.2b20.8x15.1x0.4x
Wed, 18 Jun 2025US$877.1bUS$2.1tUS$52.7b21.1x16.6x0.4x
Fri, 16 May 2025US$860.0bUS$2.1tUS$52.4b21.4x16.4x0.4x
Sun, 13 Apr 2025US$1.1tUS$1.7tUS$41.8b23.2x26.5x0.7x
Tue, 11 Mar 2025US$1.0tUS$1.7tUS$41.4b24.9x24.3x0.6x
Thu, 06 Feb 2025US$1.1tUS$1.7tUS$41.1b24.2x25.6x0.6x
Sat, 04 Jan 2025US$1.0tUS$2.0tUS$42.3b23.3x23.7x0.5x
Mon, 02 Dec 2024US$1.2tUS$2.0tUS$41.4b24.4x28.3x0.6x
Wed, 30 Oct 2024US$1.1tUS$1.9tUS$44.1b24.6x25.5x0.6x
Fri, 27 Sep 2024US$1.2tUS$1.9tUS$43.3b25.5x27.5x0.6x
Sun, 25 Aug 2024US$1.2tUS$1.9tUS$43.3b26.7x28.1x0.6x
Tue, 23 Jul 2024US$1.2tUS$1.9tUS$42.6b26.5x27.1x0.6x
Thu, 20 Jun 2024US$1.1tUS$1.9tUS$43.4b25.3x24.9x0.6x
Sat, 18 May 2024US$1.1tUS$1.9tUS$43.5b26.6x25.8x0.6x
Mon, 15 Apr 2024US$1.0tUS$1.8tUS$49.8b25x21x0.6x
Wed, 13 Mar 2024US$1.1tUS$1.8tUS$51.0b24.1x21.9x0.6x
Fri, 09 Feb 2024US$1.1tUS$1.8tUS$50.4b22.3x22.5x0.6x
Sun, 07 Jan 2024US$1.2tUS$1.8tUS$50.1b23.9x23.5x0.7x
Tue, 05 Dec 2023US$1.2tUS$1.8tUS$51.1b23.1x22.6x0.6x
Thu, 02 Nov 2023US$1.1tUS$1.8tUS$52.1b21.4x21.8x0.6x
Sat, 30 Sep 2023US$1.1tUS$1.8tUS$46.9b22.1x23.8x0.6x
Mon, 28 Aug 2023US$1.1tUS$1.8tUS$46.7b21.9x23.4x0.6x
Wed, 26 Jul 2023US$1.1tUS$1.7tUS$46.7b24.1x24.6x0.7x
Fri, 23 Jun 2023US$1.1tUS$1.7tUS$45.8b23.1x23.8x0.6x
Sun, 21 May 2023US$1.1tUS$1.7tUS$45.7b22x23.8x0.6x
Tue, 18 Apr 2023US$1.1tUS$1.4tUS$44.1b23.2x25x0.8x
Thu, 16 Mar 2023US$1.0tUS$1.4tUS$44.0b21.6x23.5x0.7x
Sat, 11 Feb 2023US$1.1tUS$1.4tUS$44.2b22.2x25.5x0.8x
Mon, 09 Jan 2023US$1.1tUS$1.4tUS$44.4b21x25.3x0.8x
Wed, 07 Dec 2022US$1.2tUS$1.4tUS$44.4b20.8x27.4x0.9x
Fri, 04 Nov 2022US$1.2tUS$1.4tUS$46.4b19.6x26.5x0.9x
Sun, 02 Oct 2022US$1.1tUS$1.4tUS$46.1b19x24.6x0.8x
Price to Earnings Ratio

24.6x


Total Market Cap: US$1.1tTotal Earnings: US$46.1bTotal Revenue: US$1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Services Industry Price to Earnings3Y Average 23.7x202320242025
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 18.3x which is lower than its 3-year average PE of 23.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.62x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 2.3% per year over the last three years.
  • Revenues for these companies have grown 15% 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 industry?

US Market0.26%
Healthcare-0.038%
Healthcare Services2.83%
Healthcare Distributors5.60%
Healthcare Facilities4.83%
Managed Healthcare3.26%
Healthcare Services1.12%
Industry PE
  • Investors are most optimistic about the Healthcare Distributors industry even though it's trading below its 3-year average PE ratio of 37.8x.
    • Analysts are expecting annual earnings growth of 13.7%, which is higher than its past year's earnings growth of 6.3% per year.
  • Investors are most pessimistic about the Managed Healthcare industry, which is trading below its 3-year average of 22.3x.
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 decline of 0.03% per year.
  • In contrast, the Managed Healthcare industry is expected to see its earnings grow by 7.8% 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$351.813.0%
+US$9.2b		-39.0%PE15x
MCK McKessonUS$760.589.9%
+US$8.5b		58.7%PE29.9x
HCA HCA HealthcareUS$416.624.3%
+US$4.0b		2.8%PE16.3x
ELV Elevance HealthUS$326.385.8%
+US$4.0b		-37.3%PE13.7x
COR CencoraUS$308.366.7%
+US$3.7b		38.0%PE31.5x

Latest News

CAH
US$154.58
Cardinal Health
7D
4.0%
1Y
42.1%
MCK
US$760.58
McKesson
7D
9.9%
1Y
58.7%
HCA
US$416.62
HCA Healthcare
7D
4.3%
1Y
2.8%

Expanding Healthcare Services And Capital Allocation Will Yield Value

HCA Healthcare’s consensus price target has risen as analysts factor in positive impacts from newly approved Texas payments and strong margins despite softening volumes, reflecting management’s resilience in adapting to policy challenges, with fair value increasing from $398.57 to $403.81. Analyst Commentary Incorporation of preliminary estimates for newly approved state-directed payments in Texas driving upward revisions in price targets.
CVS
US$76.38
CVS Health
7D
3.2%
1Y
30.3%
WGS
US$114.22
GeneDx Holdings
7D
-10.7%
1Y
210.0%

Expanding Pediatric Genomics Will Transform Rare Disease Diagnostics

Analyst price targets for GeneDx Holdings have been raised as bullish sentiment grows around its first-mover advantage in rare disease testing, strengthening demand outlook from new medical guidance and early profitability signs, with the consensus target increasing slightly from $121.25 to $123.75. Analyst Commentary Bullish analysts highlight GeneDx's position as a fast grower in the under-penetrated rare disease testing market.
CNC
US$34.65
Centene
7D
8.2%
1Y
-53.3%

Medicaid And Medicare Advantage Will Expand Health Care Access

Centene's modest price target increase reflects mixed analyst sentiment, with optimism around reaffirmed FY25 EPS guidance and Medicaid margin improvements tempered by concerns over ongoing Medicaid and marketplace pressures, regulatory risks, and reduced long-term earnings visibility, resulting in a slight upward revision of fair value to $33.94. Analyst Commentary Bullish analysts cite reaffirmation of FY25 adjusted EPS guidance and constructive commentary on Medicaid margin improvement, ACA Marketplace rate refiling, and Stars performance as supporting recent price target raises.
HUM
US$261.97
Humana
7D
-2.8%
1Y
-16.0%
COR
US$308.36
Cencora
7D
6.7%
1Y
38.0%
UNH
US$351.81
UnitedHealth Group
7D
3.0%
1Y
-39.0%
CRVL
US$79.18
CorVel
7D
-3.0%
1Y
-26.0%
OPCH
US$27.50
Option Care Health
7D
-1.9%
1Y
-11.3%

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NAKA
US$1.17
Kindly MD
7D
-18.2%
1Y
-4.7%

Kindly MD - Stuck In A Highly Dilutive Cycle

Sep 08
PGNY
US$21.70
Progyny
7D
-3.6%
1Y
29.8%

Rising Demand For Women's Health Will Transform Market Opportunity

Analysts cite improving membership trends, positive pre-announcements, and strategic partnerships expanding Progyny's women's health services as driving renewed confidence and modest upgrades, though the consensus price target remains unchanged at $28.25. Analyst Commentary Bullish analysts cite a rebound in membership activity, highlighted by two consecutive positive pre-announcements, as signaling recovery from last year's lows and renewed momentum.
ELV
US$326.38
Elevance Health
7D
5.8%
1Y
-37.3%

AI-Enabled Analytics And Value-Based Care Will Ensure Future Stability

Following disappointing Q2 results and a significant EPS guidance cut for 2025, analysts remain cautious on Elevance Health due to earnings uncertainty and operational risks—despite some offsetting segmental strengths and longer-term positives—resulting in an unchanged consensus price target of $368.44. Analyst Commentary Bearish analysts lowered price targets following Elevance Health’s Q2 report, citing a larger-than-expected EPS guidance cut for 2025, lingering questions about the true earnings floor, and persistent volatility in cost trends.
CI
US$291.43
Cigna Group
7D
-1.7%
1Y
-16.5%
HNGE
US$54.23
Hinge Health
7D
-4.4%
1Y
n/a