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U.S. Healthtech Industry Analysis

UpdatedJun 23, 2026
DataAggregated Company Financials
Companies68
  • 7D-3.8%
  • 3M-9.3%
  • 1Y-47.4%
  • YTD-29.9%

Over the last 7 days, the Healthtech industry has dropped 3.8%, driven by a pullback from Veeva Systems of 5.6%. However, the industry is down 47% over the past year. Looking forward, earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 23 Jun 2026US$44.3bUS$14.4b-US$757,222,179.0026.4x-58.6x3.1x
Thu, 21 May 2026US$44.6bUS$13.6b-US$505,371,035.0029.4x-88.2x3.3x
Sat, 18 Apr 2026US$47.4bUS$13.6b-US$417,856,415.0031.8x-113.4x3.5x
Mon, 16 Mar 2026US$48.5bUS$13.5b-US$388,664,318.0032.4x-124.7x3.6x
Wed, 11 Feb 2026US$50.9bUS$13.6b-US$115,740,340.0040.4x-439.6x3.7x
Fri, 09 Jan 2026US$68.2bUS$13.6b-US$102,572,340.0054.9x-665.2x5x
Sun, 07 Dec 2025US$68.3bUS$13.6b-US$119,482,271.0055.4x-571.6x5x
Tue, 04 Nov 2025US$79.4bUS$13.1b-US$204,351,903.0059.2x-388.7x6.1x
Thu, 02 Oct 2025US$82.2bUS$13.1b-US$211,110,296.0059.3x-389.6x6.3x
Sat, 30 Aug 2025US$77.5bUS$13.2b-US$339,858,795.0054.3x-228.1x5.9x
Mon, 28 Jul 2025US$79.8bUS$13.3b-US$1,473,402,206.0060.8x-54.2x6x
Wed, 25 Jun 2025US$77.9bUS$13.2b-US$1,382,394,447.0054.2x-56.4x5.9x
Fri, 23 May 2025US$70.2bUS$13.6b-US$1,329,607,390.0051.5x-52.8x5.2x
Sun, 20 Apr 2025US$65.4bUS$13.2b-US$1,417,865,959.0049.6x-46.1x5x
Tue, 18 Mar 2025US$69.9bUS$13.2b-US$1,408,039,877.0058.2x-49.6x5.3x
Thu, 13 Feb 2025US$75.7bUS$12.9b-US$1,610,814,514.0063.5x-47x5.9x
Sat, 11 Jan 2025US$67.2bUS$12.9b-US$1,638,075,735.0054.5x-41x5.2x
Mon, 09 Dec 2024US$71.8bUS$12.9b-US$1,662,130,390.0060.1x-43.2x5.6x
Wed, 06 Nov 2024US$62.7bUS$12.6b-US$1,843,119,656.0050x-34x5x
Fri, 04 Oct 2024US$64.3bUS$14.0b-US$3,288,675,208.0052.3x-19.6x4.6x
Sun, 01 Sep 2024US$65.9bUS$14.0b-US$3,320,322,604.0057.6x-19.8x4.7x
Tue, 30 Jul 2024US$60.6bUS$13.7b-US$1,841,437,711.0052.9x-32.9x4.4x
Thu, 27 Jun 2024US$57.2bUS$13.7b-US$1,889,788,216.0047.5x-30.3x4.2x
Sat, 25 May 2024US$57.5bUS$12.7b-US$1,960,913,856.0046.2x-29.3x4.5x
Mon, 22 Apr 2024US$56.8bUS$12.7b-US$1,624,501,542.0048.5x-35x4.5x
Wed, 20 Mar 2024US$64.6bUS$14.3b-US$1,475,267,316.0049.6x-43.8x4.5x
Fri, 16 Feb 2024US$64.5bUS$13.8b-US$5,675,716,752.0063.5x-11.4x4.7x
Sun, 14 Jan 2024US$74.0bUS$18.3b-US$5,780,492,665.0059.3x-12.8x4x
Tue, 12 Dec 2023US$65.9bUS$18.3b-US$5,772,419,665.0052.9x-11.4x3.6x
Thu, 09 Nov 2023US$67.3bUS$18.2b-US$5,835,287,304.0051.1x-11.5x3.7x
Sat, 07 Oct 2023US$70.8bUS$18.0b-US$5,559,240,965.0053.6x-12.7x3.9x
Mon, 04 Sep 2023US$75.4bUS$18.0b-US$5,525,678,389.0051.2x-13.6x4.2x
Wed, 02 Aug 2023US$80.1bUS$17.8b-US$5,538,206,318.0062.6x-14.5x4.5x
Fri, 30 Jun 2023US$75.9bUS$17.7b-US$8,580,509,261.0061.9x-8.8x4.3x
Price to Earnings Ratio

-8.8x


Total Market Cap: US$75.9bTotal Earnings: -US$8,580,509,261.00Total Revenue: US$17.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthtech Industry Price to Earnings3Y Average -131.3x202420252026
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 4.7x is higher than the industry's current PS ratio of 3.1x.
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 6.7% 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 Market-1.82%
Healthcare-1.04%
Healthtech-3.77%
Healthtech-3.77%
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
HTFL HeartFlowUS$33.843.1%
+US$88.0m		n/aPS15.2x
SOPH SOPHiA GENETICSUS$5.346.6%
+US$79.9m		75.1%PS5.4x
SDGR SchrödingerUS$15.234.3%
+US$47.1m		-25.2%PS4.5x
SLP Simulations PlusUS$18.1010.6%
+US$35.0m		6.0%PS4.5x
TDOC Teladoc HealthUS$7.581.6%
+US$21.7m		-3.9%PS0.5x

Latest News

SOPH
US$5.34
SOPHiA GENETICS
7D
6.6%
1Y
75.1%
SDGR
US$15.23
Schrödinger
7D
4.3%
1Y
-25.2%
VEEV
US$153.16
Veeva Systems
7D
-5.6%
1Y
-45.4%
Analysis Article • Jun 20

Veeva Systems (VEEV) Stock Could Be 38% Undervalued After Fed Driven Pullback

Veeva Systems (VEEV) shares fell after the Federal Reserve held its benchmark rate and signaled a more restrictive stance, as higher Treasury yields weighed on software sector valuations, including healthcare and life sciences platforms. See our latest analysis for Veeva Systems. At around US$153.30, Veeva Systems’ recent share price weakness has been broad based, with a 1 day share price return of 1% and a year to date share price return down 30.16%, while the 1 year total shareholder return...
WAY
US$17.31
Waystar Holding
7D
-6.7%
1Y
-54.1%
Analysis Article • Jun 19

Waystar Holding (WAY) Stock Could Be 45.4% Undervalued After Institutional Buying And Growth

Recent reports that major institutions have expanded positions in Waystar Holding (WAY), alongside strong year over year revenue and net profit growth, have put the stock in focus for investors watching healthcare software exposure. See our latest analysis for Waystar Holding. Despite the recent institutional interest, Waystar Holding’s 30 day share price return is down 5.8% and its year to date share price return is down 41.1%, while the 1 year total shareholder return has fallen 51.4%. This...
SCNX
US$0.38
Scienture Holdings
7D
6.0%
1Y
-57.6%
SLP
US$18.10
Simulations Plus
7D
10.6%
1Y
6.0%
CERT
US$5.34
Certara
7D
2.5%
1Y
-48.9%
Narrative Update • Jun 18

CERT: Biosimulation And Model Informed Drug Discovery Will Support Future Stock Relevance

Analysts have slightly adjusted the Certara price target lower to $7.48 from $7.62. This reflects a modest recalibration of fair value and earnings multiples, even as recent research highlights profitable operations, long term growth drivers and supportive private market valuations in the model-informed drug development space.
PHR
US$8.92
Phreesia
7D
-2.5%
1Y
-67.0%
Narrative Update • Jun 17

PHR: Cost Discipline And Profit Focus Will Support Stock Multiple Recovery

Analysts have trimmed their average price target on Phreesia stock by a few dollars into the low teens. This reflects concern that cost cutting is coming alongside reduced visibility on organic growth and rising competitive pressure in digital health advertising.
EVH
US$4.48
Evolent Health
7D
-4.7%
1Y
-57.3%
Narrative Update • Jun 16

EVH: Rich P/E Assumptions Will Constrain Upside Despite Raised Price Objectives

Analysts have raised their price target on Evolent Health stock to $5.50 from $4.00, citing updated assessments of fair value, growth, margins, and future P/E assumptions. Analyst Commentary Recent research on Evolent Health frames the higher price targets within a mixed backdrop, where some analysts highlight potential upside while others emphasize execution and valuation risks.
TDOC
US$7.58
Teladoc Health
7D
1.6%
1Y
-3.9%
Narrative Update • Jun 15

TDOC: Walmart Distribution And BetterHelp Access Will Shape Balanced Future Outlook

Narrative Update: Teladoc Health Analyst Target Revision Analysts have nudged Teladoc Health's fair value estimate higher, with the implied price target moving from about $7.12 to roughly $7.40 as they factor in updated assumptions on revenue growth, profit margins, and the potential impact of distribution partnerships such as the recently announced Walmart Better Care Services rollout. Analyst Commentary Recent research on Teladoc Health reflects a mixed but active debate, with several firms updating their price targets and views on the company following sector-wide pressure in MedTech and the rollout of new partnerships such as the Walmart Better Care Services arrangement.
DOCS
US$20.07
Doximity
7D
-2.9%
1Y
-65.4%
New Narrative • Jun 13

High physician usership and impressive AI tools

What I like about Doximity is that there really is a very high viewership / user base of active practicing Physicians in the US and that is not invaluable and definitely could be monetized perhaps more efficiently. I also think that Doximity offers a lot of interesting tools for Physicians a lot of which you’re free and really marketed towards I think Physicians who are more in private practice.
HSTM
US$25.36
HealthStream
7D
-2.0%
1Y
-7.0%
Narrative Update • Jun 13

HSTM: Buybacks And Updated Assumptions Will Shape Balanced Future Share Performance

Analysts have raised their price target on HealthStream by $3. They cite updated views on its fair value and revised assumptions for the discount rate, revenue growth, profit margins, and future P/E.
HTFL
US$33.84
HeartFlow
7D
3.1%
1Y
n/a
CTEV
US$28.44
Claritev
7D
-7.1%
1Y
-31.5%
Narrative Update • Jun 11

CTEV: New Contracts And Management Changes Will Drive Future Upside Potential

Claritev's updated analyst price target has moved lower by about $3 to $36.83, as analysts factor in slightly softer revenue growth assumptions, a modestly higher discount rate, and a lower future P/E multiple. This is partly offset by higher projected profit margins and recent Street targets that range from $32 to $61.
GDRX
US$2.57
GoodRx Holdings
7D
-5.9%
1Y
-45.2%
Narrative Update • Jun 09

GDRX: Pharma Direct Shift And New Offerings Will Support Future Upside

Analysts have lifted their GoodRx Holdings price targets by about $0.50 to $1, with recent moves to $4 from $3.50 at Citi and similar $1 increases at TD Cowen and Goldman Sachs. These changes reflect updated views on the stock's risk, growth, profitability and future P/E assumptions.
BFRG
US$0.66
Bullfrog AI Holdings
7D
3.4%
1Y
-56.6%