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U.S. Healthtech Industry Analysis

UpdatedJul 09, 2026
DataAggregated Company Financials
Companies70
  • 7D0.6%
  • 3M18.6%
  • 1Y-38.7%
  • YTD-18.0%

The Healthtech industry has been flat over the last week, but HeartFlow has lost 15%. Unfortunately though, the industry is down 39% over the past 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, 09 Jul 2026US$52.7bUS$13.8b-US$457,040,179.0033.5x-115.3x3.8x
Sat, 06 Jun 2026US$48.7bUS$14.4b-US$757,471,326.0030.2x-64.3x3.4x
Mon, 04 May 2026US$47.9bUS$13.6b-US$374,667,415.0031.4x-127.8x3.5x
Wed, 01 Apr 2026US$47.3bUS$13.6b-US$402,869,878.0032.4x-117.3x3.5x
Fri, 27 Feb 2026US$48.3bUS$13.5b-US$393,746,340.0039.7x-122.6x3.6x
Sun, 25 Jan 2026US$62.9bUS$13.6b-US$102,102,340.0051.6x-616.1x4.6x
Tue, 23 Dec 2025US$64.2bUS$13.6b-US$102,572,340.0056.3x-625.5x4.7x
Thu, 20 Nov 2025US$73.2bUS$13.5b-US$168,353,271.0055.2x-435.1x5.4x
Sat, 18 Oct 2025US$80.3bUS$13.1b-US$211,110,296.0057.4x-380.2x6.1x
Mon, 15 Sep 2025US$77.9bUS$13.2b-US$266,647,296.0056.6x-292.2x5.9x
Wed, 13 Aug 2025US$75.2bUS$13.1b-US$368,991,447.0057.7x-203.7x5.7x
Fri, 11 Jul 2025US$79.6bUS$13.2b-US$1,382,394,447.0054.8x-57.6x6x
Sun, 08 Jun 2025US$78.7bUS$13.2b-US$1,382,393,022.0057.4x-56.9x5.9x
Tue, 06 May 2025US$71.2bUS$13.2b-US$1,331,157,959.0074.2x-53.5x5.4x
Thu, 03 Apr 2025US$67.1bUS$13.2b-US$1,421,453,089.0054x-47.2x5.1x
Sat, 01 Mar 2025US$71.0bUS$13.1b-US$1,576,934,514.0065.7x-45x5.4x
Mon, 27 Jan 2025US$69.2bUS$12.9b-US$1,638,054,514.0057.6x-42.3x5.4x
Wed, 25 Dec 2024US$67.3bUS$12.9b-US$1,636,315,514.0055.1x-41.1x5.2x
Fri, 22 Nov 2024US$62.7bUS$12.8b-US$1,712,768,248.0054x-36.6x4.9x
Sun, 20 Oct 2024US$66.3bUS$13.9b-US$3,264,548,151.0054.3x-20.3x4.8x
Tue, 17 Sep 2024US$66.2bUS$14.0b-US$3,302,096,821.0055.5x-20x4.7x
Thu, 15 Aug 2024US$59.4bUS$13.9b-US$3,383,912,571.0050.9x-17.6x4.3x
Sat, 13 Jul 2024US$57.4bUS$13.7b-US$1,860,692,542.0051.8x-30.9x4.2x
Mon, 10 Jun 2024US$58.3bUS$13.7b-US$1,889,950,216.0047.3x-30.9x4.3x
Wed, 08 May 2024US$58.6bUS$12.7b-US$1,482,474,679.0046.6x-39.6x4.6x
Fri, 05 Apr 2024US$61.1bUS$12.7b-US$1,616,515,745.0052.6x-37.8x4.8x
Sun, 03 Mar 2024US$64.0bUS$14.1b-US$1,435,324,794.0050.8x-44.6x4.5x
Tue, 30 Jan 2024US$73.4bUS$18.3b-US$5,780,316,752.0060.6x-12.7x4x
Thu, 28 Dec 2023US$72.6bUS$18.3b-US$5,781,192,665.0059.6x-12.6x4x
Sat, 25 Nov 2023US$65.9bUS$18.2b-US$5,807,346,665.0052.5x-11.4x3.6x
Mon, 23 Oct 2023US$68.2bUS$18.0b-US$5,559,240,965.0052.9x-12.3x3.8x
Wed, 20 Sep 2023US$71.2bUS$18.0b-US$5,514,972,389.0050.8x-12.9x4x
Fri, 18 Aug 2023US$71.0bUS$17.9b-US$5,552,073,447.0054.4x-12.8x4x
Sun, 16 Jul 2023US$80.2bUS$17.7b-US$8,580,548,318.0062.8x-9.3x4.5x
Price to Earnings Ratio

-9.3x


Total Market Cap: US$80.2bTotal Earnings: -US$8,580,548,318.00Total Revenue: US$17.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthtech Industry Price to Earnings3Y Average -132.4x202420252026
Current Industry PE
  • Investors are pessimistic on the American Healthcare Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The 3-year average PS ratio of 4.6x is higher than the industry's current PS ratio of 3.8x.
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 8.0% 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 Market-0.43%
Healthcare1.81%
Healthtech0.64%
Healthtech0.64%
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$188.172.1%
+US$641.7m		-33.8%PE32.5x
WAY Waystar HoldingUS$22.726.0%
+US$247.4m		-40.0%PE34.6x
DOCS DoximityUS$21.690.5%
+US$18.3m		-65.7%PE20.2x
HCAT Health CatalystUS$2.206.3%
+US$9.6m		-45.4%PS0.5x
LFMD LifeMDUS$4.693.3%
+US$7.3m		-60.2%PS1.2x

Latest News

CERT
US$6.54
Certara
7D
-2.8%
1Y
-43.0%
EVH
US$5.60
Evolent Health
7D
-2.4%
1Y
-50.4%
SDGR
US$16.09
Schrödinger
7D
-1.8%
1Y
-25.8%
Seeking Alpha • 15h

Schrödinger: Surviving, If Not Thriving, In The Tricky AI Drug Discovery Field

Summary Schrödinger, Inc. operates a physics-based computational platform for drug discovery, with a growing software business and extensive pharma partnerships. SDGR maintains a strong cash position (> $400m) and has seen drug discovery revenue rise, but software revenue declined and operating losses persist. While SDGR's platform has enabled high-profile collaborations and milestone events, most pipeline assets remain preclinical, with significant risk to milestone realization. I assign a Hold rating to SDGR, reflecting both its strategic potential and the high-risk, hit-or-miss nature of AI-driven drug discovery. Read the full article on Seeking Alpha
AMWL
US$8.67
American Well
7D
-7.5%
1Y
0.5%
Narrative Update • Jul 08

AMWL: Slower Profit Progress Will Limit Benefits From Recent Partnership Expansion

Analysts have raised their fair value estimate for American Well from $5.00 to $6.50, citing updated assumptions on revenue declines, profit margins, discount rate, and future P/E that support a higher long-term price target. What’s in the News for American Well DarioHealth Corp.
GDRX
US$2.96
GoodRx Holdings
7D
-3.3%
1Y
-39.2%
Narrative Update • Jul 07

GDRX: Membership Expansion And Higher Margins Will Reset Prescription Economics

Analysts have increased their price target for GoodRx Holdings to $4.00 from $3.50, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that are consistent with recent research commentary from multiple firms. Analyst Commentary Recent research on GoodRx Holdings points to a more constructive tone, with several bullish analysts updating their assumptions and using higher price targets that align with the revised US$4.00 fair value estimate.
CTEV
US$32.02
Claritev
7D
-1.2%
1Y
-35.9%
WAY
US$22.72
Waystar Holding
7D
6.0%
1Y
-40.0%
Narrative Update • Jul 07

WAY: AI Payment Adoption And Fair Valuation May Guide Future Returns

Analysts have adjusted their price target for Waystar Holding to $25.00, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E expectations. What’s in the News for Waystar Holding Waystar Holding (WAY) shares moved 9.5% higher on strong trading volume after KeyBanc Capital Markets initiated coverage with an Overweight rating and a US$30 price target, citing a valuation gap and the company’s position in healthcare payments.
DOCS
US$21.69
Doximity
7D
0.5%
1Y
-65.7%
Narrative Update • Jul 07

DOCS: AI Spending And Competitive Pressures Will Test Healthcare Moat And Reengagement Potential

Doximity's analyst price target has been trimmed as fair value and the assumed future P/E move lower, with analysts citing weaker revenue visibility, heavier AI spending, and rising competitive pressures around digital pharma marketing and healthcare AI tools. Analyst Commentary Recent Street research on Doximity points to a more cautious stance, with many firms cutting price targets and revisiting growth expectations after the latest earnings reports and long term guidance.
HCAT
US$2.20
Health Catalyst
7D
6.3%
1Y
-45.4%
Narrative Update • Jul 07

HCAT: Vitalware Sale And Impairment Charges Will Pressure Shares Further

Health Catalyst's analyst price target has shifted to $1.75 from $1, as analysts factor in the pending Vitalware sale and update their assumptions on fair value, discount rate, revenue growth, profit margins, and future P/E multiples. Analyst Commentary Recent Street research on Health Catalyst highlights a mixed picture, with the updated US$1.75 price target reflecting both the pending Vitalware sale and an effort to recalibrate assumptions for fair value, discount rates, revenue growth, margins, and future P/E multiples.
VEEV
US$188.17
Veeva Systems
7D
2.1%
1Y
-33.8%
New Narrative • Jul 03

AI-Powered Veeva Systems Poised for Solid Growth Amid Regulatory Stability

Investors often look for artificial intelligence winners in the obvious places: semiconductors, hyperscalers, and general-purpose software platforms. But some of the most durable AI opportunities may sit in far less glamorous places—inside the regulated workflows where a mistake is not merely inconvenient, but potentially delays a drug trial, a regulatory submission, or a therapy reaching patients.
DRIO
US$7.22
DarioHealth
7D
7.0%
1Y
-49.9%
SOPH
US$5.51
SOPHiA GENETICS
7D
-1.4%
1Y
48.9%
OPRX
US$6.15
OptimizeRx
7D
1.2%
1Y
-54.6%
Narrative Update • Jun 30

OPRX: Workflow Data And AI Tools Will Support Long Term Earnings Power

Analysts have reduced their price target on OptimizeRx from $17.00 to $9.00. They highlight lower revenue growth expectations, alongside resilient profit margin assumptions and a lower future P/E outlook.
HTFL
US$26.15
HeartFlow
7D
-14.8%
1Y
n/a
DH
US$0.81
Definitive Healthcare
7D
1.5%
1Y
-80.5%
LFMD
US$4.69
LifeMD
7D
3.3%
1Y
-60.2%
Narrative Update • Jun 18

LFMD: GLP-1 Virtual Care Expansion Will Support 2026 Revenue Ambitions

Analysts have kept their $9.88 price target on LifeMD broadly unchanged, citing only minor tweaks to the discount rate, revenue growth, profit margin, and future P/E assumptions rather than any shift in the core valuation view. What’s in the News for LifeMD LifeMD issued earnings guidance for the second quarter, expecting revenue between $47 million and $50 million.