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U.S. Healthtech Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies68
  • 7D1.8%
  • 3M-22.2%
  • 1Y-11.7%
  • YTD-6.8%

Over the last 7 days, the Healthtech industry has risen 1.8%, driven by gains in Veeva Systems and HeartFlow of 1.5% and 22%, respectively. In contrast, the industry has lost 12% 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
Wed, 24 Dec 2025US$64.2bUS$13.6b-US$102,572,340.0056.3x-625.5x4.7x
Fri, 21 Nov 2025US$73.1bUS$13.5b-US$168,353,271.0054.7x-434.2x5.4x
Sun, 19 Oct 2025US$78.5bUS$13.1b-US$211,110,296.0057.4x-371.7x6x
Tue, 16 Sep 2025US$77.9bUS$13.2b-US$266,647,296.0057.7x-292.2x5.9x
Thu, 14 Aug 2025US$75.0bUS$13.1b-US$387,486,382.0058.4x-193.6x5.7x
Sat, 12 Jul 2025US$79.6bUS$13.2b-US$1,382,394,447.0054.8x-57.6x6x
Mon, 09 Jun 2025US$78.7bUS$13.2b-US$1,382,393,022.0057.4x-56.9x5.9x
Wed, 07 May 2025US$71.2bUS$13.2b-US$1,321,731,959.0066.8x-53.9x5.4x
Fri, 04 Apr 2025US$67.5bUS$13.2b-US$1,413,701,089.0050.9x-47.7x5.1x
Sun, 02 Mar 2025US$71.6bUS$13.1b-US$1,576,934,514.0065.7x-45.4x5.5x
Tue, 28 Jan 2025US$69.4bUS$12.9b-US$1,638,054,514.0057.2x-42.4x5.4x
Thu, 26 Dec 2024US$67.3bUS$12.9b-US$1,636,315,514.0055.1x-41.1x5.2x
Sat, 23 Nov 2024US$63.6bUS$12.8b-US$1,712,768,248.0054.3x-37.2x5x
Mon, 21 Oct 2024US$66.3bUS$13.9b-US$3,264,548,151.0054.3x-20.3x4.8x
Wed, 18 Sep 2024US$66.1bUS$14.0b-US$3,302,096,821.0054.7x-20x4.7x
Fri, 16 Aug 2024US$58.8bUS$13.9b-US$3,383,313,571.0051.7x-17.4x4.2x
Sun, 14 Jul 2024US$57.8bUS$13.7b-US$1,860,692,542.0051.8x-31.1x4.2x
Tue, 11 Jun 2024US$58.9bUS$13.7b-US$1,889,950,216.0047.6x-31.2x4.3x
Thu, 09 May 2024US$58.6bUS$12.7b-US$2,026,338,984.0047.2x-28.9x4.6x
Sat, 06 Apr 2024US$61.0bUS$12.7b-US$1,616,515,745.0051.3x-37.7x4.8x
Mon, 04 Mar 2024US$64.0bUS$14.1b-US$1,435,324,794.0050.8x-44.6x4.5x
Wed, 31 Jan 2024US$74.4bUS$18.3b-US$5,780,316,752.0059.9x-12.9x4.1x
Fri, 29 Dec 2023US$72.6bUS$18.3b-US$5,781,192,665.0060.7x-12.6x4x
Sun, 26 Nov 2023US$65.9bUS$18.2b-US$5,807,346,665.0052.5x-11.3x3.6x
Tue, 24 Oct 2023US$67.1bUS$18.0b-US$5,559,240,965.0052.3x-12.1x3.7x
Thu, 21 Sep 2023US$71.1bUS$18.0b-US$5,514,972,389.0050.9x-12.9x3.9x
Sat, 19 Aug 2023US$69.9bUS$17.9b-US$5,552,073,447.0055.2x-12.6x3.9x
Mon, 17 Jul 2023US$80.2bUS$17.7b-US$8,580,548,318.0062.8x-9.3x4.5x
Wed, 14 Jun 2023US$74.7bUS$17.7b-US$8,581,046,209.0060.6x-8.7x4.2x
Fri, 12 May 2023US$70.5bUS$17.6b-US$8,612,821,065.0056.9x-8.2x4x
Sun, 09 Apr 2023US$72.3bUS$17.4b-US$14,978,932,055.0055.5x-4.8x4.1x
Tue, 07 Mar 2023US$73.9bUS$17.7b-US$15,417,568,105.0055.8x-4.8x4.2x
Thu, 02 Feb 2023US$74.7bUS$17.5b-US$10,800,869,310.0052.1x-6.9x4.3x
Sat, 31 Dec 2022US$68.3bUS$35.5b-US$8,887,710,310.0034x-7.7x1.9x
Price to Earnings Ratio

-7.7x


Total Market Cap: US$68.3bTotal 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 -87.6x202320242025
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 Market0.99%
Healthcare0.29%
Healthtech1.76%
Healthtech1.76%
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$224.262.3%
+US$815.3m		3.1%PE42.8x
HTFL HeartFlowUS$30.5016.0%
+US$358.5m		n/aPS16x
WAY Waystar HoldingUS$32.841.8%
+US$109.1m		-13.0%PE56.5x
SDGR SchrödingerUS$18.818.1%
+US$103.9m		-4.7%PS5.4x
CTEV ClaritevUS$41.788.9%
+US$56.7m		241.3%PS0.7x

Latest News

DRIO
US$10.14
DarioHealth
7D
-15.9%
1Y
-27.6%

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

Dec 23
Does DarioHealth (NASDAQ:DRIO) Have A Healthy Balance Sheet?
HCTI
US$1.23
Healthcare Triangle
7D
-37.4%
1Y
-99.3%
PHR
US$16.78
Phreesia
7D
2.6%
1Y
-33.4%
TDOC
US$7.21
Teladoc Health
7D
-2.7%
1Y
-22.1%
VEEV
US$224.26
Veeva Systems
7D
2.3%
1Y
3.1%

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.
CERT
US$8.97
Certara
7D
1.2%
1Y
-16.2%

CERT: Shares Will Benefit From Biosimulation Expansion As Pharma Rebound Unfolds

Analysts have modestly trimmed their blended price target on Certara from $13.21 to $12.54 per share, reflecting slightly lower growth and valuation assumptions, even as they highlight the company’s leadership in biosimulation and long term opportunity in modernizing drug development. Analyst Commentary Street research remains mixed on Certara, with most analysts recognizing the company’s strategic positioning in biosimulation and drug development modernization, while diverging on the pace of execution and appropriate valuation.
CCLD
US$3.13
CareCloud
7D
-2.2%
1Y
-20.8%
GDRX
US$2.75
GoodRx Holdings
7D
-1.1%
1Y
-38.8%

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$18.81
Schrödinger
7D
8.1%
1Y
-4.7%

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.
HCAT
US$2.35
Health Catalyst
7D
-1.7%
1Y
-65.9%
HTFL
US$30.50
HeartFlow
7D
16.0%
1Y
n/a
DOCS
US$43.53
Doximity
7D
-0.6%
1Y
-25.3%

DOCS: Budget Flush And Ad Shift Will Drive Shares Higher

Analysts have lifted their Doximity fair value estimate to $83.00 from $78.58, reflecting stronger expected revenue growth and improving long term growth visibility, which they believe more than offset lower margin assumptions and a higher required return. Analyst Commentary Bullish analysts highlight that the recent pullback in Doximity shares has created a compelling entry point, with the stock now trading at what they view as an unjustified discount to the broader vertical software peer group.
CTEV
US$41.78
Claritev
7D
8.9%
1Y
241.3%

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.
OPRX
US$12.74
OptimizeRx
7D
-2.8%
1Y
157.9%

OPRX: Recurring Revenue Shift And 2026 Guidance Will Drive Future Upside

Analysts have nudged their price targets on OptimizeRx higher, with recent increases across the Street ranging from about $1 to $10 per share to reflect stronger than expected Q3 revenue and EPS, improved visibility, and confidence in sustained double digit growth and margin expansion. Analyst Commentary Bullish analysts highlighted that the latest quarter materially exceeded revenue expectations, driving meaningful EPS upside and reinforcing confidence in a durable, double digit growth profile.
DH
US$2.52
Definitive Healthcare
7D
10.5%
1Y
-39.0%

DH: Higher Revenue Guidance And Buybacks Will Support Future Earnings

Analysts have modestly raised their price target on Definitive Healthcare to approximately 26.61 times forward earnings, up from about 26.47 times previously. This reflects a slightly higher discount rate and stable expectations for long term margins and growth.
WAY
US$32.84
Waystar Holding
7D
1.8%
1Y
-13.0%

WAY: Raised Fiscal 2025 Guidance Will Support Bullish Momentum

Analysts have slightly lowered their price target on Waystar Holding, trimming fair value by approximately $0.42 per share as they incorporate a marginally higher discount rate while keeping long term growth and profitability assumptions largely unchanged. What's in the News Raised full year 2025 revenue guidance to a range of $1.085 billion to $1.093 billion, signaling stronger than previously expected top line performance (corporate guidance) Announced and subsequently closed a private placement of common shares, including a planned issuance for gross proceeds of about $620.8 million under Regulation D (private placements) Completed a follow on equity offering of 18 million common shares, raising approximately $709.2 million at a price of $39.40 per share (follow on equity offering) Added to the S&P 1000 index, increasing the company profile among institutional investors and index tracking funds (index constituent add) Unveiled new AI powered AltitudeAI capabilities aimed at cutting denial related administrative time by over 90 percent and significantly improving patient payment collections for healthcare providers (product related announcement) Valuation Changes Fair Value: decreased slightly from $49.16 to $48.74 per share, reflecting a modest reduction in intrinsic value.