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U.S. Medical Equipment Industry Analysis

UpdatedJul 06, 2026
DataAggregated Company Financials
Companies241
  • 7D2.2%
  • 3M-2.6%
  • 1Y-19.0%
  • YTD-16.4%

Over the last 7 days, the Medical Equipment industry has risen 2.2%, driven by gains from Intuitive Surgical of 4.9%. In contrast, the industry has lost 19% in the last 12 months. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 06 Jul 2026US$1.1tUS$334.7bUS$25.2b26.5x45.6x3.4x
Wed, 03 Jun 2026US$1.1tUS$335.3bUS$25.5b24.2x42.3x3.2x
Fri, 01 May 2026US$1.1tUS$332.6bUS$25.3b23.8x44.5x3.4x
Sun, 29 Mar 2026US$1.2tUS$333.9bUS$26.1b27.2x46.3x3.6x
Tue, 24 Feb 2026US$1.3tUS$331.1bUS$24.9b30.9x53.9x4.1x
Thu, 22 Jan 2026US$1.4tUS$325.6bUS$32.8b32.2x41.7x4.2x
Sat, 20 Dec 2025US$1.4tUS$325.7bUS$32.4b29.7x43.4x4.3x
Mon, 17 Nov 2025US$1.3tUS$297.7bUS$31.4b27.9x42.9x4.5x
Wed, 15 Oct 2025US$1.3tUS$292.5bUS$31.5b29.3x40.8x4.4x
Fri, 12 Sep 2025US$1.3tUS$292.5bUS$31.4b29.6x42.1x4.5x
Sun, 10 Aug 2025US$1.3tUS$291.8bUS$31.3b28x42.4x4.6x
Tue, 08 Jul 2025US$1.4tUS$286.7bUS$29.6b30.3x45.9x4.7x
Thu, 05 Jun 2025US$1.3tUS$286.7bUS$29.6b31.8x45.3x4.7x
Sat, 03 May 2025US$1.3tUS$285.7bUS$28.0b30.8x46.6x4.6x
Mon, 31 Mar 2025US$1.3tUS$283.3bUS$27.4b27.8x47.9x4.6x
Wed, 26 Feb 2025US$1.4tUS$282.6bUS$30.1b30.9x47x5x
Fri, 24 Jan 2025US$1.4tUS$284.7bUS$30.8b35.9x45.4x4.9x
Sun, 22 Dec 2024US$1.3tUS$284.0bUS$23.6b35.2x55.1x4.6x
Tue, 19 Nov 2024US$1.3tUS$283.1bUS$22.9b36.2x57.6x4.7x
Thu, 17 Oct 2024US$1.3tUS$279.4bUS$22.1b37.3x59.3x4.7x
Sat, 14 Sep 2024US$1.3tUS$279.6bUS$22.2b40.3x59.6x4.7x
Mon, 12 Aug 2024US$1.2tUS$279.6bUS$21.8b35.1x56.7x4.4x
Wed, 10 Jul 2024US$1.2tUS$276.4bUS$22.7b36.9x54x4.4x
Fri, 07 Jun 2024US$1.2tUS$276.4bUS$22.7b37.4x55x4.5x
Sun, 05 May 2024US$1.2tUS$276.8bUS$24.8b37.2x50.2x4.5x
Tue, 02 Apr 2024US$1.3tUS$274.1bUS$24.0b40.1x54.7x4.8x
Thu, 29 Feb 2024US$1.3tUS$266.3bUS$22.5b35.4x56.7x4.8x
Sat, 27 Jan 2024US$1.2tUS$268.0bUS$21.0b35.2x58.9x4.6x
Mon, 25 Dec 2023US$1.2tUS$267.4bUS$20.2b37.4x59.9x4.5x
Wed, 22 Nov 2023US$1.1tUS$267.0bUS$19.7b35.2x56.1x4.1x
Fri, 20 Oct 2023US$1.1tUS$263.6bUS$15.1b34x70.3x4x
Sun, 17 Sep 2023US$1.2tUS$263.8bUS$15.0b34.8x77.1x4.4x
Tue, 15 Aug 2023US$1.2tUS$263.4bUS$15.0b35.5x80.8x4.6x
Thu, 13 Jul 2023US$1.3tUS$260.7bUS$16.1b37.2x79.6x4.9x
Price to Earnings Ratio

79.6x


Total Market Cap: US$1.3tTotal Earnings: US$16.1bTotal Revenue: US$260.7bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 53.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Medical Equipment industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 45.6x which is lower than its 3-year average PE of 53.2x.
  • The 3-year average PS ratio of 4.4x is higher than the industry's current PS ratio of 3.4x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 16% per year over the last three years.
  • Revenues for these companies have grown 8.7% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market1.63%
Healthcare2.29%
Medical Equipment2.21%
Medical Supplies5.62%
Medical Equipment1.76%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry which is trading above its 3-year average PE ratio of 31.6x.
    • Analysts are expecting annual earnings growth of 22.9%, which is higher than its past year's earnings decline of 5.2% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 50.4x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 5.2% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ISRG Intuitive SurgicalUS$426.014.9%
+US$7.1b		-20.3%PE50.6x
ABT Abbott LaboratoriesUS$95.402.9%
+US$4.7b		-28.6%PE26.6x
MDLN MedlineUS$43.199.0%
+US$3.0b		n/aPE37.8x
MDT MedtronicUS$83.192.8%
+US$2.9b		-5.1%PE22.2x
BSX Boston ScientificUS$45.143.8%
+US$2.5b		-56.5%PE18.8x

Latest News

ABT
US$95.40
Abbott Laboratories
7D
2.9%
1Y
-28.6%
Seeking Alpha • Jul 03

Abbott Laboratories Q2 Earnings Preview: A Contrarian Buy Opportunity Worth Considering

Summary Abbott Laboratories is upgraded to Buy ahead of Q2 2026 earnings, following a challenging period marked by share price underperformance. The recent acquisition of Exact Sciences adds a high-growth cancer diagnostics vertical, targeting $3bn incremental 2026 sales and potential long-term revenue expansion. 2026 guidance projects 6.5–7.5% organic sales growth and $5.38–$5.58 adjusted EPS, with Exact Sciences acquisition causing $0.20 EPS dilution. ABT's resilient balance sheet, improving core business trends, and strategic positioning support a contrarian recovery thesis toward former share price highs. Read the full article on Seeking Alpha
MDLN
US$43.19
Medline
7D
9.0%
1Y
n/a
MDT
US$83.19
Medtronic
7D
2.8%
1Y
-5.1%
IART
US$18.05
Integra LifeSciences Holdings
7D
-3.7%
1Y
41.6%
RMD
US$209.63
ResMed
7D
5.6%
1Y
-18.2%
SYK
US$326.54
Stryker
7D
-1.2%
1Y
-16.8%
Seeking Alpha • Jul 02

Stryker: The Reshaped Product Portfolio Will Drive Growth

Summary Stryker is a Dividend Aristocrat with 32 years of increases, robust cash flow, and a strong M&A-driven growth strategy. SYK's Q1 2026 results were impacted by a cybersecurity incident, but management maintained full-year guidance and expects normalization. The stock trades at ~21x 2026E EPS, below its 5-year average, suggesting undervaluation despite recent share price declines. I rate SYK a 'buy' due to its resilient business model, conservative payout, and platform-based portfolio diversification. Read the full article on Seeking Alpha
IDXX
US$557.80
IDEXX Laboratories
7D
4.1%
1Y
2.2%
Narrative Update • Jul 01

IDXX: Expanded Diagnostics And Reset Expectations Will Support Future Shareholder Value

Analysts have trimmed their price targets on IDEXX Laboratories by roughly $40. This reflects slightly lower fair value estimates, a modestly reduced revenue growth outlook, and a lower assumed future P/E multiple.
ZBH
US$87.47
Zimmer Biomet Holdings
7D
-4.1%
1Y
-5.5%
BSX
US$45.14
Boston Scientific
7D
3.8%
1Y
-56.5%
Narrative Update • Jun 30

BSX: Clinical Pipeline Strength Will Offset Watchman Reset And Sector Headwinds

The analyst price target for Boston Scientific has been reduced by $2.10, from $77.10 to $75.00, as analysts factor in slower Watchman growth, lower utilization trends, and more conservative long term revenue and margin assumptions across the medtech sector. Analyst Commentary Recent research on Boston Scientific points to a clear split between optimism on the broader business and caution around Watchman and utilization trends.
STAA
US$27.79
STAAR Surgical
7D
-5.3%
1Y
67.3%
Narrative Update • Jun 30

STAA: Limited China Visibility And Missing Guidance Will Constrain Future Rebound Confidence

The updated analyst price target for STAAR Surgical moves from an implied fair value of $16.00 to $23.00, reflecting adjustments to revenue growth, profit margin, and future P/E assumptions after stronger than expected Q1 results and increased confidence in a China rebound cited by several analysts. Analyst Commentary Recent Street research on STAAR Surgical has centered on stronger than expected Q1 results and growing attention on the China business, but not all commentary is uniformly bullish.
EW
US$94.37
Edwards Lifesciences
7D
3.5%
1Y
23.1%
BFLY
US$7.68
Butterfly Network
7D
-13.8%
1Y
308.5%
Narrative Update • Jun 29

BFLY: Midjourney Imaging Rollout Will Test Sustainability Of AI Ultrasound Premium

Analysts have raised Butterfly Network's fair value estimate from about $5.69 to roughly $7.06 per share, reflecting updated assumptions for revenue growth, profit margins, discount rate, and future P/E multiples in their pricing models. What’s in the News for Butterfly Network AI startup Midjourney launched the Midjourney Scanner, a full-body tomographic imaging platform built on Butterfly Network’s Ultrasound-on-Chip technology, with 40 integrated ultrasound modules delivering high-resolution, 3D full-body scans in about one minute, source: Midjourney collaboration coverage.
ISRG
US$426.01
Intuitive Surgical
7D
4.9%
1Y
-20.3%
PRCT
US$21.03
PROCEPT BioRobotics
7D
-6.9%
1Y
-63.1%
GMED
US$80.12
Globus Medical
7D
-4.6%
1Y
43.1%
Narrative Update • Jun 25

GMED: EPS Upside And Robotics Progress Will Balance Execution And Margin Risks

Globus Medical's analyst price target has moved by $2.82 as analysts weigh fresh evidence around slightly lower modeled revenue growth, higher projected profit margins, and a revised future P/E assumption following recent mixed target changes from Needham and Wells Fargo. Analyst Commentary Recent research commentary on Globus Medical reflects a mixed but cautious tone, as price targets are fine tuned around updated assumptions for revenue growth, profitability and the appropriate P/E range for the stock.
ATEC
US$8.92
Alphatec Holdings
7D
-6.1%
1Y
-18.4%
Narrative Update • Jun 22

ATEC: Legal Overhang And 2026 Outlook Will Support Future Upside

Analysts have maintained their $11.00 price target for Alphatec Holdings, citing updated model assumptions that reflect slightly adjusted discount rates, revenue growth expectations, profit margins, and future P/E estimates. What’s in the News for Alphatec Holdings Schall Law Firm has begun an investigation into Alphatec Holdings, Inc.