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U.S. Healthtech Industry Analysis

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies69
  • 7D6.9%
  • 3M14.0%
  • 1Y-35.6%
  • YTD-15.2%

The Healthtech industry is up 6.9% in the last week, with Veeva Systems up 9.0%. Meanwhile, HeartFlow actually underperformed within the industry, shrinking 22% in the last week. However, the industry is down 36% over the past year. Looking forward, 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
Tue, 07 Jul 2026US$52.6bUS$13.8b-US$457,040,179.0034.7x-115.1x3.8x
Thu, 04 Jun 2026US$49.6bUS$14.2b-US$790,217,326.0030.9x-62.8x3.5x
Sat, 02 May 2026US$45.1bUS$13.6b-US$374,667,415.0031.4x-120.4x3.3x
Mon, 30 Mar 2026US$46.8bUS$13.6b-US$385,844,265.0032.4x-121.2x3.5x
Wed, 25 Feb 2026US$47.1bUS$13.7b-US$99,454,340.0042.6x-473.7x3.4x
Fri, 23 Jan 2026US$62.2bUS$13.6b-US$102,102,340.0050.8x-609.5x4.6x
Sun, 21 Dec 2025US$64.2bUS$13.6b-US$102,572,340.0056.5x-625.5x4.7x
Tue, 18 Nov 2025US$77.2bUS$13.2b-US$183,402,512.0056.1x-420.9x5.8x
Thu, 16 Oct 2025US$79.2bUS$13.1b-US$211,110,296.0058.2x-375.3x6x
Sat, 13 Sep 2025US$78.6bUS$13.2b-US$266,647,296.0056.6x-294.6x5.9x
Mon, 11 Aug 2025US$77.1bUS$13.1b-US$368,668,447.0059.1x-209.2x5.9x
Wed, 09 Jul 2025US$78.4bUS$13.2b-US$1,382,394,447.0055.2x-56.7x5.9x
Fri, 06 Jun 2025US$76.9bUS$13.2b-US$1,382,393,022.0058.8x-55.6x5.8x
Sun, 04 May 2025US$71.0bUS$13.2b-US$1,331,157,959.0073.8x-53.4x5.4x
Tue, 01 Apr 2025US$69.0bUS$13.2b-US$1,423,826,873.0054.1x-48.4x5.2x
Thu, 27 Feb 2025US$71.7bUS$13.0b-US$1,560,308,514.0061.7x-45.9x5.5x
Sat, 25 Jan 2025US$68.9bUS$12.9b-US$1,638,054,514.0057.6x-42.1x5.3x
Mon, 23 Dec 2024US$68.1bUS$12.9b-US$1,636,315,514.0056.1x-41.6x5.3x
Wed, 20 Nov 2024US$63.7bUS$12.8b-US$1,712,768,248.0055.2x-37.2x5x
Fri, 18 Oct 2024US$66.1bUS$13.9b-US$3,264,548,151.0053.7x-20.2x4.7x
Sun, 15 Sep 2024US$66.2bUS$14.0b-US$3,302,096,821.0055.8x-20x4.7x
Tue, 13 Aug 2024US$58.9bUS$13.9b-US$3,382,681,571.0050.4x-17.4x4.2x
Thu, 11 Jul 2024US$56.1bUS$13.7b-US$1,860,692,542.0050.3x-30.2x4.1x
Sat, 08 Jun 2024US$59.1bUS$13.7b-US$1,889,950,216.0047.3x-31.3x4.3x
Mon, 06 May 2024US$58.0bUS$12.7b-US$1,488,470,679.0048.4x-39x4.6x
Wed, 03 Apr 2024US$64.1bUS$12.7b-US$1,616,370,745.0051.7x-39.7x5x
Fri, 01 Mar 2024US$64.0bUS$14.0b-US$1,928,063,794.0054.3x-33.2x4.6x
Sun, 28 Jan 2024US$73.4bUS$18.3b-US$5,780,316,752.0059.3x-12.7x4x
Tue, 26 Dec 2023US$72.1bUS$18.3b-US$5,781,192,665.0058.8x-12.5x3.9x
Thu, 23 Nov 2023US$65.5bUS$18.2b-US$5,952,254,939.0052.5x-11x3.6x
Sat, 21 Oct 2023US$68.3bUS$18.0b-US$5,559,240,965.0052.9x-12.3x3.8x
Mon, 18 Sep 2023US$71.6bUS$18.0b-US$5,514,972,389.0051.8x-13x4x
Wed, 16 Aug 2023US$71.8bUS$17.9b-US$5,551,920,955.0056.8x-12.9x4x
Fri, 14 Jul 2023US$80.0bUS$17.7b-US$8,580,548,318.0062.5x-9.3x4.5x
Price to Earnings Ratio

-9.3x


Total Market Cap: US$80.0bTotal 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 -132.2x202420252026
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 Market0.79%
Healthcare0.97%
Healthtech6.95%
Healthtech6.95%
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$192.019.0%
+US$2.6b		-31.7%PE33.1x
WAY Waystar HoldingUS$23.9119.7%
+US$753.8m		-38.1%PE36.4x
DOCS DoximityUS$22.8611.0%
+US$415.1m		-62.4%PE21.3x
CERT CertaraUS$7.1312.1%
+US$119.8m		-34.8%PS2.6x
TDOC Teladoc HealthUS$9.296.9%
+US$108.3m		15.1%PS0.7x

Latest News

DOCS
US$22.86
Doximity
7D
11.0%
1Y
-62.4%
VEEV
US$192.01
Veeva Systems
7D
9.0%
1Y
-31.7%
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.
CERT
US$7.13
Certara
7D
12.1%
1Y
-34.8%
Narrative Update • Jul 02

CERT: Peer Deal Premium Will Highlight Depressed Multiple Over Coming Years

Certara's updated analyst price target has decreased from $16.00 to $10.00 as analysts factor in lower modeled revenue growth and profit margins, while recent peer acquisition multiples support the view that the stock's valuation remains depressed relative to private market benchmarks. Analyst Commentary Recent commentary on Certara highlights a split view, with the headline price target reduction offset by some pointedly optimistic arguments about the stock's current valuation and business profile.
ONMD
US$0.70
OneMedNet
7D
-0.8%
1Y
28.0%
CTEV
US$33.16
Claritev
7D
-2.0%
1Y
-31.4%
HSTM
US$29.07
HealthStream
7D
7.2%
1Y
5.4%
SOPH
US$5.34
SOPHiA GENETICS
7D
-10.7%
1Y
64.3%
PHR
US$11.10
Phreesia
7D
7.9%
1Y
-60.9%
Narrative Update • Jul 01

PHR: Cost Discipline And Profit Focus Will Drive Long Term Upside

Phreesia's analyst fair value estimate has been reduced from $35.00 to $20.00, reflecting lower assumed revenue growth and profit margins as analysts weigh slower digital advertising trends, rising competitive pressure, and less visibility into a return to durable organic growth. Analyst Commentary Recent Street research on Phreesia highlights a more cautious tone, with several firms cutting ratings and trimming price targets as they reassess growth visibility, digital advertising trends, and competitive pressure.
WAY
US$23.91
Waystar Holding
7D
19.7%
1Y
-38.1%
SLP
US$18.36
Simulations Plus
7D
-0.1%
1Y
9.1%
HTFL
US$27.11
HeartFlow
7D
-22.2%
1Y
n/a
TDOC
US$9.29
Teladoc Health
7D
6.9%
1Y
15.1%
GDRX
US$3.08
GoodRx Holdings
7D
8.1%
1Y
-35.0%
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$17.00
Schrödinger
7D
-2.2%
1Y
-17.6%
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
-3.2%
1Y
-78.7%
EVH
US$5.74
Evolent Health
7D
-0.5%
1Y
-50.7%
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.