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U.S. Healthtech Industry Analysis

UpdatedJul 01, 2026
DataAggregated Company Financials
Companies68
  • 7D7.9%
  • 3M6.2%
  • 1Y-41.0%
  • YTD-21.1%

Over the last 7 days, the Healthtech industry has risen 7.9%, driven by gains from Veeva Systems of 11%. Meanwhile, HeartFlow actually underperformed within the industry, shrinking 15% in the last week. In contrast, the industry has lost 41% in the last 12 months. Earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 01 Jul 2026US$49.3bUS$14.4b-US$748,582,179.0030.9x-65.8x3.4x
Fri, 29 May 2026US$44.9bUS$14.2b-US$790,217,326.0029.5x-56.8x3.2x
Sun, 26 Apr 2026US$46.5bUS$13.6b-US$417,856,415.0031.1x-111.2x3.4x
Tue, 24 Mar 2026US$49.3bUS$13.6b-US$385,844,265.0033.6x-127.8x3.6x
Thu, 19 Feb 2026US$48.1bUS$13.7b-US$97,099,340.0043.5x-495.2x3.5x
Sat, 17 Jan 2026US$63.0bUS$13.6b-US$102,102,340.0051.7x-617.3x4.6x
Mon, 15 Dec 2025US$64.1bUS$13.6b-US$100,808,271.0056.2x-635.9x4.7x
Wed, 12 Nov 2025US$76.9bUS$13.1b-US$31,855,903.0060.5x-2414.4x5.9x
Fri, 10 Oct 2025US$83.7bUS$13.1b-US$211,110,296.0060.4x-396.5x6.4x
Sun, 07 Sep 2025US$76.8bUS$13.2b-US$266,647,296.0055.2x-288x5.8x
Tue, 05 Aug 2025US$75.7bUS$13.3b-US$582,741,447.0059.7x-129.9x5.7x
Thu, 03 Jul 2025US$78.5bUS$13.2b-US$1,382,394,447.0055x-56.8x5.9x
Sat, 31 May 2025US$74.8bUS$13.2b-US$1,382,409,796.0055.6x-54.1x5.6x
Mon, 28 Apr 2025US$68.5bUS$13.2b-US$1,417,865,959.0052.8x-48.3x5.2x
Wed, 26 Mar 2025US$72.1bUS$13.2b-US$1,405,690,435.0060.5x-51.3x5.5x
Fri, 21 Feb 2025US$76.1bUS$13.0b-US$1,571,387,514.0062.8x-48.4x5.9x
Sun, 19 Jan 2025US$66.3bUS$12.9b-US$1,638,054,514.0055.2x-40.5x5.1x
Tue, 17 Dec 2024US$68.1bUS$12.9b-US$1,645,750,514.0056x-41.4x5.3x
Thu, 14 Nov 2024US$70.0bUS$12.8b-US$1,659,921,370.0056.7x-42.2x5.5x
Sat, 12 Oct 2024US$64.7bUS$14.0b-US$3,264,605,977.0053.6x-19.8x4.6x
Mon, 09 Sep 2024US$65.2bUS$14.0b-US$3,301,808,821.0056.4x-19.7x4.7x
Wed, 07 Aug 2024US$56.6bUS$13.7b-US$3,375,019,669.0050.9x-16.8x4.1x
Fri, 05 Jul 2024US$55.9bUS$13.7b-US$1,860,692,542.0049.9x-30.1x4.1x
Sun, 02 Jun 2024US$52.7bUS$12.7b-US$1,885,422,856.0046.6x-28x4.1x
Tue, 30 Apr 2024US$57.3bUS$12.7b-US$1,631,005,679.0046.1x-35.1x4.5x
Thu, 28 Mar 2024US$65.1bUS$14.3b-US$1,502,658,316.0049.5x-43.3x4.6x
Sat, 24 Feb 2024US$63.3bUS$14.0b-US$1,904,502,794.0053.4x-33.3x4.5x
Mon, 22 Jan 2024US$73.0bUS$18.3b-US$5,780,316,752.0058.8x-12.6x4x
Wed, 20 Dec 2023US$70.3bUS$18.3b-US$5,781,192,665.0057.9x-12.2x3.8x
Fri, 17 Nov 2023US$65.4bUS$18.2b-US$5,940,038,069.0052.1x-11x3.6x
Sun, 15 Oct 2023US$71.2bUS$18.0b-US$5,559,240,965.0053.4x-12.8x3.9x
Tue, 12 Sep 2023US$75.3bUS$18.0b-US$5,515,729,389.0049.7x-13.7x4.2x
Thu, 10 Aug 2023US$74.3bUS$17.9b-US$5,613,446,123.0053.3x-13.2x4.1x
Sat, 08 Jul 2023US$74.8bUS$17.7b-US$8,580,548,318.0059.9x-8.7x4.2x
Price to Earnings Ratio

-8.7x


Total Market Cap: US$74.8bTotal 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 -131.7x202420252026
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 3.4x.
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 Market1.92%
Healthcare4.70%
Healthtech7.87%
Healthtech7.87%
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$177.4711.1%
+US$2.9b		-37.3%PE30.6x
WAY Waystar HoldingUS$20.5311.5%
+US$406.6m		-47.9%PE31.2x
CERT CertaraUS$6.5521.3%
+US$178.9m		-43.1%PS2.4x
TDOC Teladoc HealthUS$8.4810.3%
+US$142.6m		-1.2%PS0.6x
SDGR SchrödingerUS$16.258.0%
+US$90.4m		-21.2%PS4.8x

Latest News

AIFF
US$1.21
Firefly Neuroscience
7D
-7.6%
1Y
-59.9%
PHR
US$10.29
Phreesia
7D
12.5%
1Y
-63.9%
CERT
US$6.55
Certara
7D
21.3%
1Y
-43.1%
WAY
US$20.53
Waystar Holding
7D
11.5%
1Y
-47.9%
HTFL
US$29.34
HeartFlow
7D
-14.9%
1Y
n/a
TDOC
US$8.48
Teladoc Health
7D
10.3%
1Y
-1.2%
VEEV
US$177.47
Veeva Systems
7D
11.1%
1Y
-37.3%
Narrative Update • Jun 29

VEEV: AI Execution And CRM Wins Will Drive Future Upside

Veeva Systems’ analyst fair value estimate has been reset lower from about $380 to roughly $338, reflecting Street price target cuts as analysts weigh solid Q1 execution against AI disruption risk, competitive CRM questions, and a shift toward more measured profit margin and P/E assumptions. Analyst Commentary Street research on Veeva Systems presents a mixed but generally constructive picture, with many firms recalibrating price targets while still pointing to solid Q1 execution, ongoing demand in health technology, and emerging AI and CRM catalysts as key elements in their valuation work.
CCLD
US$2.12
CareCloud
7D
-4.1%
1Y
-6.6%
ITOC
US$0.30
iTonic Holdings
7D
-6.1%
1Y
-98.4%
GDRX
US$2.88
GoodRx Holdings
7D
7.9%
1Y
-41.9%
Narrative Update • Jun 23

GDRX: Higher Fair Value Assumptions Will Strain Core Prescription Economics

Analysts have lifted their GoodRx Holdings price target by $0.25 to reflect updated views on fair value, discount rate, revenue growth, profit margin, and future P/E metrics, supported by recent target increases from major firms to around $4 per share. Analyst Commentary on GoodRx Holdings Recent research on GoodRx Holdings centers on how the current share price lines up with updated views on fair value, earnings power, and execution risks.
SDGR
US$16.25
Schrödinger
7D
8.0%
1Y
-21.2%
Narrative Update • Jun 22

SDGR: Hosted Software Shift And 2026 Execution Progress Will Support Upside

Analysts have trimmed their average price target on Schrödinger, with recent cuts such as Morgan Stanley's move from $19 to $17. These revisions reflect updated assumptions around discount rates, profitability, and future P/E expectations.
SCNX
US$0.35
Scienture Holdings
7D
-5.0%
1Y
-76.0%
LFMD
US$4.13
LifeMD
7D
-9.2%
1Y
-68.5%
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.
HCTI
US$1.81
Healthcare Triangle
7D
-14.2%
1Y
-99.6%
EVH
US$5.42
Evolent Health
7D
12.9%
1Y
-53.4%
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.
VSEE
US$0.12
VSee Health
7D
-5.5%
1Y
-90.4%