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U.S. Healthtech Industry Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies68
  • 7D3.0%
  • 3M-22.4%
  • 1Y-10.7%
  • YTD-7.2%

The Healthtech industry is up 3.0% in the last week, with Veeva Systems up 3.6%. Meanwhile, DarioHealth actually underperformed within the industry, shrinking 17% in the last week. In contrast, the industry has lost 11% in the last 12 months. Looking forward, earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025US$64.4bUS$13.6b-US$102,572,340.0055.1x-627.9x4.7x
Sat, 22 Nov 2025US$72.3bUS$13.6b-US$117,958,271.0052.4x-612.5x5.3x
Mon, 20 Oct 2025US$78.5bUS$13.1b-US$211,110,296.0057.4x-371.7x6x
Wed, 17 Sep 2025US$78.1bUS$13.2b-US$266,647,296.0057.4x-292.8x5.9x
Fri, 15 Aug 2025US$76.6bUS$13.1b-US$364,005,899.0057.6x-210.5x5.8x
Sun, 13 Jul 2025US$76.9bUS$13.2b-US$1,382,394,447.0054.2x-55.7x5.8x
Tue, 10 Jun 2025US$78.7bUS$13.2b-US$1,382,393,022.0057.4x-56.9x5.9x
Thu, 08 May 2025US$69.0bUS$13.2b-US$1,324,722,959.0067.3x-52.1x5.2x
Sat, 05 Apr 2025US$65.5bUS$13.2b-US$1,414,656,089.0048.7x-46.3x5x
Mon, 03 Mar 2025US$71.6bUS$13.1b-US$1,576,934,514.0065.7x-45.4x5.5x
Wed, 29 Jan 2025US$69.3bUS$12.9b-US$1,638,054,514.0058.9x-42.3x5.4x
Fri, 27 Dec 2024US$67.3bUS$12.9b-US$1,636,315,514.0055.2x-41.1x5.2x
Sun, 24 Nov 2024US$64.5bUS$12.8b-US$1,712,780,390.0054.3x-37.7x5x
Tue, 22 Oct 2024US$66.3bUS$13.9b-US$3,264,548,151.0053.8x-20.3x4.8x
Thu, 19 Sep 2024US$66.0bUS$14.0b-US$3,302,096,821.0054.5x-20x4.7x
Sat, 17 Aug 2024US$60.0bUS$13.9b-US$3,380,458,127.0056.7x-17.7x4.3x
Mon, 15 Jul 2024US$57.8bUS$13.7b-US$1,860,692,542.0051.8x-31.1x4.2x
Wed, 12 Jun 2024US$59.0bUS$13.7b-US$1,889,950,216.0047.7x-31.2x4.3x
Fri, 10 May 2024US$56.7bUS$12.6b-US$2,000,355,742.0050.2x-28.3x4.5x
Sun, 07 Apr 2024US$61.1bUS$12.7b-US$1,616,515,745.0051.3x-37.8x4.8x
Tue, 05 Mar 2024US$64.7bUS$14.1b-US$1,435,324,794.0049.3x-45.1x4.6x
Thu, 01 Feb 2024US$73.1bUS$18.3b-US$5,780,316,752.0058.9x-12.7x4x
Sat, 30 Dec 2023US$73.3bUS$18.3b-US$5,781,192,665.0058.4x-12.7x4x
Mon, 27 Nov 2023US$65.9bUS$18.2b-US$5,807,346,665.0052.5x-11.3x3.6x
Wed, 25 Oct 2023US$67.1bUS$18.0b-US$5,559,240,965.0052.3x-12.1x3.7x
Fri, 22 Sep 2023US$69.5bUS$18.0b-US$5,514,972,389.0051.1x-12.6x3.9x
Sun, 20 Aug 2023US$69.7bUS$17.9b-US$5,554,149,562.0055.2x-12.5x3.9x
Tue, 18 Jul 2023US$80.2bUS$17.7b-US$8,580,548,318.0062.7x-9.3x4.5x
Thu, 15 Jun 2023US$74.8bUS$17.7b-US$8,581,046,209.0061.4x-8.7x4.2x
Sat, 13 May 2023US$70.2bUS$17.6b-US$8,602,278,065.0057.2x-8.2x4x
Mon, 10 Apr 2023US$72.3bUS$17.4b-US$14,978,932,055.0055.5x-4.8x4.1x
Wed, 08 Mar 2023US$73.2bUS$17.7b-US$15,417,568,105.0055.2x-4.8x4.1x
Fri, 03 Feb 2023US$77.6bUS$17.5b-US$10,804,200,563.0055x-7.2x4.4x
Sun, 01 Jan 2023US$94.8bUS$35.5b-US$8,887,710,310.0034x-10.7x2.7x
Price to Earnings Ratio

-10.7x


Total Market Cap: US$94.8bTotal Earnings: -US$8,887,710,310.00Total Revenue: US$35.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthtech Industry Price to Earnings3Y Average -88.2x202320242025
Current Industry PE
  • Investors are relatively neutral on the American Healthcare Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PS ratio of 4.7x.
Past Earnings Growth
  • The earnings for companies in the Healthcare Services industry have improved over the last three years.
  • Meanwhile revenues for these companies have declined 27% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, losses have been shrinking.

Industry Trends

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

US Market3.10%
Healthcare2.03%
Healthtech2.96%
Healthtech2.96%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
VEEV Veeva SystemsUS$223.153.6%
+US$1.3b		2.6%PE42.6x
HTFL HeartFlowUS$30.4415.8%
+US$353.4m		n/aPS16x
WAY Waystar HoldingUS$33.012.3%
+US$141.6m		-12.6%PE56.8x
SDGR SchrödingerUS$18.385.6%
+US$72.2m		-6.8%PS5.3x
CTEV ClaritevUS$42.6911.1%
+US$70.4m		248.8%PS0.7x

Latest News

OPRX
US$12.76
OptimizeRx
7D
-2.7%
1Y
158.3%

OPRX Will Extend Double Digit Revenue Trajectory With New Multi Year Partnerships

Analysts have lifted their price target on OptimizeRx by $5 to $32 per share, citing consistently strong quarterly outperformance, improving visibility after last year's weak execution, and a more durable outlook for double digit revenue growth and expanding margins. Analyst Commentary Bullish analysts are increasingly aligned around a constructive view of OptimizeRx, pointing to a series of price target hikes following its latest quarterly results.
PHR
US$16.81
Phreesia
7D
3.1%
1Y
-33.3%

PHR: Cross Sell And AccessOne Integration Will Drive Future EBITDA Expansion

Narrative Update Analysts have modestly trimmed their price target on Phreesia to approximately $29.82 from about $32.12 per share, reflecting slightly lower assumptions for revenue growth and profit margins even as they highlight the company’s growing cross-sell traction, long-term lift from the pending AccessOne acquisition, and potential for significant operating leverage to drive EBITDA growth in the high-20s to low-30s percentage range. Analyst Commentary Analysts generally view Phreesia positively, with recent coverage initiating the stock with an Outperform rating and a price target modestly above current levels, citing a strengthening growth and profitability profile.
DH
US$2.62
Definitive Healthcare
7D
14.9%
1Y
-36.6%

DH: Higher Revenue Guidance And Share Repurchases Will Support Future Earnings

Analysts have trimmed their price target on Definitive Healthcare by approximately 8 percent to reflect slightly softer long term revenue growth and margin expectations, as well as a modestly lower future earnings multiple. What's in the News Definitive Healthcare raised its full year 2025 revenue guidance, lifting the bottom end of the range by $2 million to $239.0 to $240.0 million, signaling stronger than previously expected demand (company guidance).
DRIO
US$10.04
DarioHealth
7D
-16.7%
1Y
-28.3%

Does DarioHealth (NASDAQ:DRIO) Have A Healthy Balance Sheet?

Dec 23
Does DarioHealth (NASDAQ:DRIO) Have A Healthy Balance Sheet?
WAY
US$33.01
Waystar Holding
7D
2.3%
1Y
-12.6%

WAY: Raised 2025 Guidance And Strengthened Balance Sheet Will Drive Upside

Analysts have slightly reduced their price target on Waystar Holding to approximately $48.35 per share, down from about $48.74. They attribute this adjustment to a modestly higher discount rate and slightly softer long term margin assumptions, which more than offset marginally stronger projected revenue growth.
HCTI
US$1.19
Healthcare Triangle
7D
-39.4%
1Y
-99.3%
VEEV
US$223.15
Veeva Systems
7D
3.6%
1Y
2.6%

VEEV: Roche Commitment And CRM Migrations Will Likely Sustain Premium Outlook

Analysts have modestly trimmed their blended price target for Veeva Systems to about $312 from roughly $321, reflecting a slightly higher discount rate and lower implied future multiple, even as they highlight accelerating CRM migrations, including Roche's global Vault CRM rollout, and improving long term growth and margin expectations. Analyst Commentary Street research remains broadly constructive on Veeva Systems, with recent target changes reflecting a recalibration of software multiples rather than a material shift in company specific fundamentals.
LFMD
US$4.00
LifeMD
7D
23.5%
1Y
-18.5%

LFMD: Telehealth Focus And Weight Management Reset Will Drive Future Margin Expansion

Analysts have trimmed LifeMD's average price target by several dollars per share, citing Q3 revenue and EBITDA misses, increased competitive pressure in weight management, and revised revenue guidance that temper near term expectations despite a still constructive long term outlook. Analyst Commentary Bullish analysts acknowledge the near term disappointment but stress that the core telehealth and pharmacy platform remains intact, with structural drivers that can support renewed growth once competitive and reimbursement dynamics in weight management stabilize.
CCLD
US$3.09
CareCloud
7D
-3.4%
1Y
-21.8%
GDRX
US$2.77
GoodRx Holdings
7D
-0.4%
1Y
-38.3%

GDRX: Expanding Weight Loss Collaborations Will Drive Future Upside Despite Pharmacy Headwinds

Analysts have modestly trimmed their average price target on GoodRx, reflecting a slightly lower fair value estimate of about $4.95 per share. They are balancing cautious views on pharmacy headwinds and reimbursement changes against emerging, but longer-dated, upside from new partnerships, including weight-loss and PBM initiatives.
SDGR
US$18.38
Schrödinger
7D
5.6%
1Y
-6.8%

SDGR: Future Outlook Will Hinge On Software Momentum And Pipeline Data

Analysts have modestly reduced their price target on Schrödinger from $19.00 to $18.00 per share, reflecting a more cautious view on near term revenue growth and margins amid limited visibility on software growth and pending validation from early stage pipeline data. Analyst Commentary Recent research commentary underscores a more balanced but guarded stance on Schrödinger, with the stock viewed as needing further proof points on both its software growth trajectory and its internal pipeline productivity.
HTFL
US$30.44
HeartFlow
7D
15.8%
1Y
n/a
CTEV
US$42.69
Claritev
7D
11.1%
1Y
248.8%

CTEV: Best-In-Class Margins Will Support Return To Mid-Single-Digit Expansion

Claritev's analyst price target has been raised to $74 from $55, as analysts cite growing confidence that the company can return to mid single digit revenue growth by 2026 while sustaining best in class margins. Analyst Commentary Bullish Takeaways Bullish analysts view the higher $74 target as reflecting renewed confidence in Claritev's ability to reaccelerate revenue growth while preserving margin discipline.
AMWL
US$4.59
American Well
7D
-2.3%
1Y
-39.8%

AMWL: Cost Discipline And 2026 Cash Flow Breakeven Will Drive Future Upside

Analysts have trimmed their price target on American Well, cutting it by $3 to $7 per share, as they balance the positive surprise in Q3 adjusted EBITDA and reaffirmed 2026 cash flow breakeven goals against slightly more conservative assumptions for the discount rate, revenue growth, and future valuation multiples. Analyst Commentary Bullish Takeaways Bullish analysts highlight the Q3 adjusted EBITDA beat as evidence that cost reduction initiatives are gaining traction faster than previously modeled, supporting a path to improved profitability.
AIFF
US$1.10
Firefly Neuroscience
7D
-17.9%
1Y
-56.7%
SOPH
US$4.60
SOPHiA GENETICS
7D
-1.3%
1Y
45.6%