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U.S. Healthtech Industry Analysis

UpdatedAug 14, 2026
DataAggregated Company Financials
Companies68
  • 7D13.5%
  • 3M48.6%
  • 1Y-18.9%
  • YTD2.6%

In the last week, the Healthtech industry is up 11%, with Veeva Systems up 16%. In the same time, Health Catalyst was down 24%. In contrast, the industry has lost 23% in the last 12 months. As for the next few years, earnings are expected to grow by 20% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 14 Aug 2026US$61.1bUS$13.6b-US$357,111,154.0037.9x-171.1x4.5x
Sun, 12 Jul 2026US$51.4bUS$13.4b-US$390,407,179.0033.5x-131.7x3.8x
Tue, 09 Jun 2026US$46.9bUS$14.4b-US$757,471,326.0028.9x-61.9x3.3x
Thu, 07 May 2026US$48.3bUS$13.6b-US$367,426,415.0030.2x-131.4x3.5x
Sat, 04 Apr 2026US$46.8bUS$13.6b-US$416,170,054.0032x-112.5x3.4x
Mon, 02 Mar 2026US$49.5bUS$13.5b-US$343,986,340.0039.2x-144x3.7x
Wed, 28 Jan 2026US$62.9bUS$13.6b-US$102,102,340.0048.6x-616.4x4.6x
Fri, 26 Dec 2025US$64.4bUS$13.6b-US$102,572,340.0055.1x-627.9x4.7x
Sun, 23 Nov 2025US$69.6bUS$13.6b-US$117,958,271.0052.4x-590.2x5.1x
Tue, 21 Oct 2025US$79.7bUS$13.1b-US$211,110,296.0057.9x-377.7x6.1x
Thu, 18 Sep 2025US$77.9bUS$13.2b-US$266,647,296.0057.9x-292.1x5.9x
Sat, 16 Aug 2025US$75.7bUS$13.1b-US$364,716,795.0058.7x-207.4x5.8x
Mon, 14 Jul 2025US$77.1bUS$13.2b-US$1,382,394,447.0054.2x-55.8x5.8x
Wed, 11 Jun 2025US$78.3bUS$13.2b-US$1,382,393,022.0060.3x-56.7x5.9x
Fri, 09 May 2025US$70.1bUS$13.2b-US$1,332,961,959.0069.6x-52.6x5.3x
Sun, 06 Apr 2025US$62.9bUS$13.2b-US$1,414,656,089.0048.7x-44.4x4.8x
Tue, 04 Mar 2025US$71.5bUS$13.1b-US$1,576,934,514.0063.8x-45.3x5.5x
Thu, 30 Jan 2025US$71.7bUS$12.9b-US$1,638,054,514.0059.2x-43.8x5.6x
Sat, 28 Dec 2024US$67.2bUS$12.9b-US$1,636,315,514.0055x-41.1x5.2x
Mon, 25 Nov 2024US$64.5bUS$12.8b-US$1,712,780,390.0054.3x-37.7x5x
Wed, 23 Oct 2024US$65.6bUS$14.0b-US$3,262,691,151.0053.3x-20.1x4.7x
Fri, 20 Sep 2024US$66.0bUS$14.0b-US$3,302,096,821.0055x-20x4.7x
Sun, 18 Aug 2024US$60.2bUS$13.9b-US$3,360,989,829.0056.7x-17.9x4.3x
Tue, 16 Jul 2024US$57.8bUS$13.7b-US$1,860,692,542.0051.5x-31.1x4.2x
Thu, 13 Jun 2024US$59.4bUS$13.7b-US$1,889,950,216.0048x-31.4x4.3x
Sat, 11 May 2024US$56.9bUS$12.8b-US$1,992,747,742.0047x-28.6x4.5x
Mon, 08 Apr 2024US$61.1bUS$12.7b-US$1,616,515,745.0051.3x-37.8x4.8x
Wed, 06 Mar 2024US$64.7bUS$14.1b-US$1,445,414,794.0048.3x-44.7x4.6x
Fri, 02 Feb 2024US$71.9bUS$18.3b-US$5,780,316,752.0057.9x-12.4x3.9x
Sun, 31 Dec 2023US$72.9bUS$18.3b-US$5,781,192,665.0058.4x-12.6x4x
Tue, 28 Nov 2023US$65.9bUS$18.2b-US$5,807,346,665.0051.6x-11.3x3.6x
Thu, 26 Oct 2023US$66.7bUS$18.1b-US$5,551,204,965.0049.5x-12x3.7x
Sat, 23 Sep 2023US$69.2bUS$18.0b-US$5,514,972,389.0050.4x-12.6x3.8x
Mon, 21 Aug 2023US$69.7bUS$17.9b-US$5,554,149,562.0055.2x-12.5x3.9x
Price to Earnings Ratio

-12.5x


Total Market Cap: US$69.7bTotal Earnings: -US$5,554,149,562.00Total Revenue: US$17.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthtech Industry Price to Earnings3Y Average -136.6x202420252026
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 4.6x.
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 8.7% 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 Market1.74%
Healthcare2.29%
Healthtech13.54%
Healthtech13.54%
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$252.6416.0%
+US$5.7b		-8.1%PE43.6x
DOCS DoximityUS$26.5928.7%
+US$1.1b		-58.2%PE28.4x
HTFL HeartFlowUS$31.0114.0%
+US$329.4m		-8.0%PS14x
CTEV ClaritevUS$42.2257.3%
+US$258.0m		-37.7%PS0.7x
WAY Waystar HoldingUS$25.083.5%
+US$163.0m		-30.5%PE35.7x

Latest News

HTFL
US$31.01
HeartFlow
7D
14.0%
1Y
-8.0%
HCAT
US$1.75
Health Catalyst
7D
-24.2%
1Y
-40.2%
VEEV
US$252.64
Veeva Systems
7D
16.0%
1Y
-8.1%
EVH
US$4.66
Evolent Health
7D
29.8%
1Y
-47.2%
Seeking Alpha • 20h

Evolent Health Q2 Earnings Review: Debt Is Distressing, But Business Is Booming

Summary Evolent Health, Inc. is awarded a contrarian Buy rating despite extreme indebtedness and recent net losses. EVH trades at a deeply distressed valuation (~0.2x forward sales) due to ~$967m long-term debt and persistent GAAP losses. Management projects >25% revenue growth and adjusted EBITDA ≥$150m in 2027, aiming to improve leverage and capital structure. Industry recovery and strong specialty care revenue growth support the thesis, but EVH remains a high-risk, high-reward turnaround. Read the full article on Seeking Alpha
DOCS
US$26.59
Doximity
7D
28.7%
1Y
-58.2%
CTEV
US$42.22
Claritev
7D
57.3%
1Y
-37.7%
Narrative Update • Aug 12

CTEV: Q2 Beat And Growing Bookings Will Support Future Upside Potential

Claritev's updated analyst price target rises from about $36.83 to roughly $43.83 as analysts respond to recent Q2 beats, higher long term bookings expectations, and modestly adjusted assumptions for revenue growth, profit margin, discount rate, and future P/E multiples. Analyst Commentary Recent research on Claritev points to a mix of optimism around growth and execution, alongside clear concerns around balance sheet risk and the pace of improvement.
DH
US$0.64
Definitive Healthcare
7D
-6.5%
1Y
-83.1%
Narrative Update • Aug 12

DH: Higher Future P/E And Product Updates Will Support Upside Potential

Analysts have cut their price target on Definitive Healthcare to $1.70 from $2.20. They point to a lower assumed fair value, a slightly higher discount rate, a smaller expected revenue decline, a much lower projected profit margin, and a materially higher future P/E multiple in their updated models.
DRIO
US$7.33
DarioHealth
7D
-5.4%
1Y
-15.9%
SOPH
US$7.62
SOPHiA GENETICS
7D
13.9%
1Y
132.3%
WAY
US$25.08
Waystar Holding
7D
3.5%
1Y
-30.5%
Narrative Update • Aug 07

WAY: Payment Software Adoption And New CFO Leadership May Support Future Upside

Analysts have nudged their fair value estimate for Waystar Holding from $25.00 to $27.00 as they refine assumptions around revenue growth, profit margins, and future P/E expectations. What’s in the News for Waystar Holding Waystar Holding appointed Alpana Wegner as Chief Financial Officer, effective August 1, 2026, succeeding long serving CFO Steve Oreskovich.
SLP
US$18.31
Simulations Plus
7D
-0.2%
1Y
28.9%
Seeking Alpha • Jul 19

Simulations Plus: The Potential Little Spread Is Not Worth The Risk For New Money, Hold

Summary Simulations Plus reported a strong 7% revenue growth during the quarter, while its net income improved to $3.6 million. Simulation and Altaris have agreed to a buyout agreement wherein the latter will pay $18.5 per share in an all-cash deal, valuing Simulation at $375 million. The meager difference between the current stock price ($18.23) and the deal price ($18.5) reflects merger-arbitrage situation. I rate SLP a Hold. Existing holders can squeeze in more gain as the deal gets closer to completion. For Newcomers, the little upside is not enticing enough to warrant a fresh position, given potential risks associated with the impedingdeal. Read the full article on Seeking Alpha
PHR
US$12.62
Phreesia
7D
10.5%
1Y
-54.9%
Narrative Update • Jul 16

PHR: Securities Lawsuit And Weak Growth Visibility Will Pressure Shares

The analyst price target for Phreesia has been revised from $24 to $9, as analysts weigh lower modeled revenue growth, a reduced assumed future P/E multiple, and sector research that highlights competitive pressures, softer digital advertising trends, and limited visibility into a return to durable organic growth. Analyst Commentary on Phreesia Recent research on Phreesia points to a more cautious stance from several bearish analysts, with multiple downgrades and lower price targets reflecting concerns about growth visibility, competition, and the balance between profitability efforts and future expansion.