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U.S. Healthtech Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies68
  • 7D-1.2%
  • 3M-5.6%
  • 1Y-46.1%
  • YTD-27.3%

Over the last 7 days, the Healthtech industry has dropped 1.2%, driven by Veeva Systems declining 2.2%. On the other hand HeartFlow is actually up 7.6%. However, the industry is down 46% over the past year. As for the next few years, earnings are expected to grow by 24% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026US$43.8bUS$14.4b-US$757,222,179.0027.8x-57.8x3.1x
Fri, 22 May 2026US$44.9bUS$13.6b-US$505,371,035.0028.5x-88.9x3.3x
Sun, 19 Apr 2026US$47.8bUS$13.6b-US$417,856,415.0031.8x-114.3x3.5x
Tue, 17 Mar 2026US$48.5bUS$13.5b-US$388,664,318.0032.4x-124.7x3.6x
Thu, 12 Feb 2026US$51.0bUS$13.6b-US$115,740,340.0039.9x-440.4x3.7x
Sat, 10 Jan 2026US$67.7bUS$13.6b-US$102,102,340.0054.4x-663.4x5x
Mon, 08 Dec 2025US$68.3bUS$13.6b-US$119,482,271.0055.4x-571.6x5x
Wed, 05 Nov 2025US$80.0bUS$13.1b-US$205,571,903.0059.4x-389.1x6.1x
Fri, 03 Oct 2025US$81.8bUS$13.1b-US$211,110,296.0060.9x-387.4x6.2x
Sun, 31 Aug 2025US$76.9bUS$13.2b-US$285,313,296.0054.5x-269.4x5.8x
Tue, 29 Jul 2025US$79.8bUS$13.3b-US$1,473,336,447.0061.2x-54.1x6x
Thu, 26 Jun 2025US$77.9bUS$13.2b-US$1,382,394,447.0054.6x-56.4x5.9x
Sat, 24 May 2025US$67.8bUS$13.1b-US$1,464,882,390.0051.8x-46.3x5.2x
Mon, 21 Apr 2025US$65.4bUS$13.2b-US$1,417,865,959.0049.6x-46.1x5x
Wed, 19 Mar 2025US$70.5bUS$13.2b-US$1,408,039,877.0057.1x-50.1x5.4x
Fri, 14 Feb 2025US$75.6bUS$12.9b-US$1,604,881,514.0064.4x-47.1x5.9x
Sun, 12 Jan 2025US$66.5bUS$12.9b-US$1,638,075,735.0054.5x-40.6x5.2x
Tue, 10 Dec 2024US$71.8bUS$12.9b-US$1,662,130,390.0058.8x-43.2x5.6x
Thu, 07 Nov 2024US$63.0bUS$12.6b-US$1,843,119,656.0049x-34.2x5x
Sat, 05 Oct 2024US$63.3bUS$14.0b-US$3,264,827,208.0052.9x-19.4x4.5x
Mon, 02 Sep 2024US$65.9bUS$14.0b-US$3,320,322,604.0057.6x-19.8x4.7x
Wed, 31 Jul 2024US$60.4bUS$13.7b-US$1,841,437,711.0053x-32.8x4.4x
Fri, 28 Jun 2024US$57.1bUS$13.7b-US$1,909,009,047.0047.5x-29.9x4.2x
Sun, 26 May 2024US$57.6bUS$12.7b-US$1,960,913,856.0046.2x-29.4x4.5x
Tue, 23 Apr 2024US$56.8bUS$12.7b-US$1,624,501,542.0048.5x-35x4.5x
Thu, 21 Mar 2024US$64.6bUS$14.3b-US$1,475,736,316.0050.4x-43.8x4.5x
Sat, 17 Feb 2024US$66.1bUS$13.8b-US$5,663,248,794.0062.3x-11.7x4.8x
Mon, 15 Jan 2024US$74.0bUS$18.3b-US$5,780,492,665.0059.3x-12.8x4x
Wed, 13 Dec 2023US$66.1bUS$18.3b-US$5,772,419,665.0051.3x-11.4x3.6x
Fri, 10 Nov 2023US$62.3bUS$18.2b-US$5,891,219,304.0046.4x-10.6x3.4x
Sun, 08 Oct 2023US$70.8bUS$18.0b-US$5,559,240,965.0053.6x-12.7x3.9x
Tue, 05 Sep 2023US$75.4bUS$18.0b-US$5,525,678,389.0051.2x-13.6x4.2x
Thu, 03 Aug 2023US$78.3bUS$17.7b-US$5,588,965,123.0061.5x-14x4.4x
Sat, 01 Jul 2023US$76.7bUS$17.7b-US$8,580,509,261.0062.4x-8.9x4.3x
Price to Earnings Ratio

-8.9x


Total Market Cap: US$76.7bTotal 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 -131.4x202420252026
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-2.31%
Healthcare0.44%
Healthtech-1.19%
Healthtech-1.19%
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$34.487.6%
+US$209.6m		n/aPS15.5x
SOPH SOPHiA GENETICSUS$5.236.1%
+US$76.6m		66.0%PS5.3x
TDOC Teladoc HealthUS$7.691.6%
+US$21.7m		-3.9%PS0.6x
EVH Evolent HealthUS$4.802.1%
+US$11.2m		-54.8%PS0.3x
SDGR SchrödingerUS$15.040.7%
+US$8.2m		-27.0%PS4.4x

Latest News

VEEV
US$159.71
Veeva Systems
7D
-2.2%
1Y
-43.3%
Seeking Alpha • 10h

Veeva Systems: The AI Thesis Is More Tangible Now

Summary Veeva Systems remains a Buy, with core revenue and subscription growth in the mid-teens and a compelling ~16x NTM PE valuation. Falcon, VEEV's agentic labor AI platform, makes the AI opportunity tangible, offering automation for compliance-sensitive, high-volume workflows in life sciences. R&D and Quality subscription revenue outpaces consolidated growth at 19% y/y, while Commercial gains traction with over 150 live Vault CRM customers. VEEV's valuation does not require immediate AI monetization; continued core business compounding and successful CRM migrations underpin upside potential. Read the full article on Seeking Alpha
GDRX
US$2.67
GoodRx Holdings
7D
-2.2%
1Y
-47.3%
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.
WAY
US$18.41
Waystar Holding
7D
0.2%
1Y
-52.4%
Narrative Update • Jun 23

WAY: AI-Driven Revenue Integration And Buybacks Will Support Future Rerating

Analysts kept their fair value estimate for Waystar Holding steady at $33.83 while making only marginal tweaks to underlying inputs, indicating fine-tuning of assumptions rather than a change in overall outlook. What’s in the News for Waystar Holding Waystar’s “The State of the Mid-Revenue Cycle” report highlights that 86% of healthcare organizations still rely on manual or disconnected systems.
DOCS
US$20.48
Doximity
7D
-2.0%
1Y
-65.1%
Narrative Update • Jun 23

DOCS: AI Investment Year And Healthcare Moat Set To Support Reengagement

The updated Doximity analyst price target edges up slightly to $25.42, as analysts balance concerns about slower digital advertising growth, tougher competition, and heavier AI investment against a still supportive longer term rationale. This is reflected in a modestly higher fair value and P/E assumption.
SOPH
US$5.23
SOPHiA GENETICS
7D
6.1%
1Y
66.0%
SDGR
US$15.04
Schrödinger
7D
0.7%
1Y
-27.0%
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.
CERT
US$5.40
Certara
7D
-10.7%
1Y
-49.5%
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.
TBRG
US$26.13
TruBridge
7D
0.04%
1Y
13.4%
PHR
US$9.15
Phreesia
7D
-3.1%
1Y
-67.2%
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.
OPRX
US$4.54
OptimizeRx
7D
-14.0%
1Y
-64.8%
Narrative Update • Jun 16

OPRX: Profit Execution And Programmatic Ramp Will Support Future Upside

Analysts have trimmed the fair value estimate for OptimizeRx to $11.50 from $14.50. This reflects lower revenue growth expectations while acknowledging maintained profit margin forecasts and a still supportable forward P/E framework.
EVH
US$4.80
Evolent Health
7D
2.1%
1Y
-54.8%
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$7.69
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.
HTFL
US$34.48
HeartFlow
7D
7.6%
1Y
n/a
DRIO
US$5.99
DarioHealth
7D
-15.9%
1Y
-58.3%
Narrative Update • Jun 11

DRIO: Peer Reviewed Outcomes And GLP 1 Tools Will Drive Future Rebound

Analysts have reduced their price target on DarioHealth by $6 to $28, citing updated assumptions around revenue growth, profit margins, discount rates and future P/E as the main factors behind the revision. What's in the News DarioHealth presented four studies at the American Diabetes Association Scientific Sessions, covering high risk cardiometabolic populations and reinforcing its focus on claims based and outcomes driven payments.
CTEV
US$30.06
Claritev
7D
-2.0%
1Y
-25.9%
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.
ONMD
US$0.60
OneMedNet
7D
19.7%
1Y
-12.0%