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U.S. Healthtech Industry Analysis

UpdatedAug 20, 2026
DataAggregated Company Financials
Companies70
  • 7D5.1%
  • 3M48.0%
  • 1Y-19.4%
  • YTD3.9%

Over the last 7 days, the Healthtech industry has risen 5.1%, driven by gains in Veeva Systems and HeartFlow of 3.9% and 53%, respectively. In contrast, the industry has lost 19% in the last 12 months. Earnings are forecast to grow by 20% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 20 Aug 2026US$62.4bUS$13.7b-US$321,331,114.0038.7x-194.2x4.6x
Sat, 18 Jul 2026US$53.0bUS$13.4b-US$390,407,179.0033.8x-135.7x3.9x
Mon, 15 Jun 2026US$44.9bUS$14.4b-US$755,064,816.0028x-59.5x3.1x
Wed, 13 May 2026US$46.0bUS$13.6b-US$470,099,811.0029.1x-97.9x3.4x
Fri, 10 Apr 2026US$45.4bUS$13.6b-US$416,162,415.0029.2x-109.1x3.3x
Sun, 08 Mar 2026US$52.0bUS$13.6b-US$316,348,340.0035.5x-164.3x3.8x
Tue, 03 Feb 2026US$57.4bUS$13.6b-US$102,102,340.0045.3x-562.6x4.2x
Thu, 01 Jan 2026US$64.6bUS$13.6b-US$102,572,340.0052x-629.9x4.8x
Sat, 29 Nov 2025US$70.1bUS$13.6b-US$117,958,271.0055.2x-594.2x5.2x
Mon, 27 Oct 2025US$81.4bUS$13.1b-US$212,082,154.0059.3x-383.7x6.2x
Wed, 24 Sep 2025US$79.3bUS$13.2b-US$266,647,296.0058.9x-297.5x6x
Fri, 22 Aug 2025US$77.4bUS$13.1b-US$369,126,795.0059.1x-209.6x5.9x
Sun, 20 Jul 2025US$77.2bUS$13.2b-US$1,447,621,447.0059.1x-53.3x5.8x
Tue, 17 Jun 2025US$76.8bUS$13.2b-US$1,383,488,447.0056x-55.5x5.8x
Thu, 15 May 2025US$71.4bUS$13.1b-US$1,455,625,534.0056.5x-49.1x5.5x
Sat, 12 Apr 2025US$62.9bUS$13.2b-US$1,415,308,497.0049.7x-44.5x4.8x
Mon, 10 Mar 2025US$72.3bUS$13.1b-US$1,519,804,514.0059.6x-47.6x5.5x
Wed, 05 Feb 2025US$71.3bUS$12.9b-US$1,638,054,514.0059.9x-43.5x5.5x
Fri, 03 Jan 2025US$65.1bUS$12.9b-US$1,636,315,514.0053.8x-39.8x5.1x
Sun, 01 Dec 2024US$68.1bUS$12.8b-US$1,712,780,390.0058.4x-39.7x5.3x
Tue, 29 Oct 2024US$62.7bUS$13.6b-US$3,127,204,656.0049.2x-20x4.6x
Thu, 26 Sep 2024US$64.3bUS$14.0b-US$3,288,675,208.0052.6x-19.6x4.6x
Sat, 24 Aug 2024US$62.1bUS$13.9b-US$3,379,735,604.0059x-18.4x4.5x
Mon, 22 Jul 2024US$58.1bUS$13.7b-US$1,860,692,542.0052.6x-31.2x4.3x
Wed, 19 Jun 2024US$56.7bUS$13.7b-US$1,889,788,216.0047.1x-30x4.2x
Fri, 17 May 2024US$58.4bUS$12.8b-US$1,978,869,031.0046.6x-29.5x4.6x
Sun, 14 Apr 2024US$60.9bUS$12.7b-US$1,616,515,745.0048.4x-37.7x4.8x
Tue, 12 Mar 2024US$64.5bUS$14.1b-US$1,445,414,794.0050.2x-44.6x4.6x
Thu, 08 Feb 2024US$61.4bUS$13.8b-US$5,690,204,752.0060.9x-10.8x4.5x
Sat, 06 Jan 2024US$70.0bUS$18.3b-US$5,780,492,665.0052.7x-12.1x3.8x
Mon, 04 Dec 2023US$66.7bUS$18.2b-US$5,807,346,665.0053.2x-11.5x3.7x
Wed, 01 Nov 2023US$65.5bUS$18.1b-US$5,527,928,965.0049.4x-11.8x3.6x
Fri, 29 Sep 2023US$69.5bUS$18.0b-US$5,514,972,389.0051.8x-12.6x3.9x
Sun, 27 Aug 2023US$69.5bUS$17.9b-US$5,554,149,562.0051.9x-12.5x3.9x
Price to Earnings Ratio

-12.5x


Total Market Cap: US$69.5bTotal 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 -137.5x202420252026
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 Market-0.79%
Healthcare3.62%
Healthtech5.14%
Healthtech5.14%
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$251.003.9%
+US$1.5b		-11.6%PE43.3x
HTFL HeartFlowUS$45.5352.5%
+US$1.4b		55.3%PS18.7x
DOCS DoximityUS$25.753.0%
+US$135.5m		-60.0%PE27.5x
SDGR SchrödingerUS$19.856.5%
+US$91.3m		2.5%PS5.7x
SOPH SOPHiA GENETICSUS$8.289.4%
+US$60.4m		131.3%PS8.2x

Latest News

DRIO
US$7.16
DarioHealth
7D
-4.3%
1Y
-17.2%
AMWL
US$12.40
American Well
7D
-2.0%
1Y
81.0%
Narrative Update • Aug 19

AMWL: Breakeven Uncertainty Will Restrain Benefits From Defense Contract Validation

Analysts have lifted the fair value estimate for American Well from $6.50 to $11.00, citing stronger Q2 results, a higher 2026 revenue outlook, stabilizing revenue forecasts, progress toward breakeven, and a Department of Defense contract update that they see as validating the platform and potentially widening the scope of future deals. Analyst Commentary Recent Street research on American Well points to a more balanced view than the headline fair value increase might suggest.
HCAT
US$1.69
Health Catalyst
7D
-5.6%
1Y
-42.1%
Narrative Update • Aug 19

HCAT: Sector Repricing And Impairment Charges Will Pressure Shares Further

Analysts have nudged their target on Health Catalyst lower, trimming the implied fair value from $1.75 to $1.50. They have factored in recent sector updates, a slightly higher discount rate, and revised expectations around growth, profitability, and future P/E multiples following recent Street research moves on the stock.
SOPH
US$8.28
SOPHiA GENETICS
7D
9.4%
1Y
131.3%
Narrative Update • Aug 18

SOPH: Astrazeneca Partnerships And AI Platform Will Drive Future Oncology Opportunity

Analysts have lifted the SOPHiA GENETICS analyst price target from $12 to $14, citing recent Street research that highlights stronger Q2 results, a raised outlook, major AstraZeneca and companion diagnostics partnerships, growing U.S. adoption, and recurring, usage based revenue streams across clinical and biopharma markets as key supports for this updated view. Analyst Commentary Bullish analysts see SOPHiA GENETICS as a company that is executing on its plan, with recent research pointing to what they view as strong Q2 results, a raised outlook, and expanding commercial traction.
ONMD
US$0.58
OneMedNet
7D
-21.1%
1Y
-26.1%
HTFL
US$45.53
HeartFlow
7D
52.5%
1Y
55.3%
Seeking Alpha • Aug 16

HeartFlow: An Impressive MedTech Growth Play

Summary HeartFlow delivered a convincing Q2 with 48% sales growth and gross margins rising to 83%, driving strong market optimism. The company raised full-year revenue guidance to $246–$250 million, though the outlook appears conservative given recent momentum and sequential growth. Shares now trade at 13x sales, supported by accelerating topline growth, expanding plaque-related revenue, and commercial adoption of its non-invasive cardiac solution. Despite ongoing operating losses, a robust net cash position and significant addressable market suggest further upside, but current valuation tempers immediate enthusiasm. Read the full article on Seeking Alpha
HCTI
US$0.98
Healthcare Triangle
7D
-21.4%
1Y
-99.4%
WAY
US$24.84
Waystar Holding
7D
1.2%
1Y
-29.2%
SDGR
US$19.85
Schrödinger
7D
6.5%
1Y
2.5%
Narrative Update • Aug 14

SDGR: Software Transition Pace And 2026 Execution Will Drive Risk Reward Balance

Analysts recently lifted their average fair value estimate for Schrödinger from $13.00 to $17.00, citing revised assumptions around profit margins, discount rates, and long run software growth that align with the higher $19.00 price target highlighted in recent Street research. Analyst Commentary Recent Street research on Schrödinger highlights a mix of interest in the company’s software potential and caution around how quickly that opportunity may translate into measurable progress.
VEEV
US$251.00
Veeva Systems
7D
3.9%
1Y
-11.6%
GDRX
US$3.54
GoodRx Holdings
7D
-1.4%
1Y
-19.0%
EVH
US$4.58
Evolent Health
7D
9.8%
1Y
-48.9%
Seeking Alpha • Aug 13

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$25.75
Doximity
7D
3.0%
1Y
-60.0%
CERT
US$8.36
Certara
7D
4.4%
1Y
-21.8%
TDOC
US$6.66
Teladoc Health
7D
-0.7%
1Y
-7.8%
Narrative Update • Aug 07

TDOC: Weaker Mental Health Demand Will Outweigh Retail Expansion Benefits

Teladoc Health's updated analyst price target of $5.50, compared with the previous $5.00 fair value estimate, reflects recent Street research that has pulled published targets into the $7.50 to $11 range as analysts balance softer BetterHelp trends against steadier Integrated Care performance and incremental positives such as the Walmart partnership. Analyst Commentary Recent Street commentary on Teladoc Health shows a mixed but cautious tone, with several bearish analysts trimming price targets as they reassess growth, execution, and valuation risks following the latest quarterly update.
PHR
US$11.96
Phreesia
7D
-2.4%
1Y
-56.8%
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.