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U.S. Medical Equipment Industry Analysis

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies235
  • 7D-2.1%
  • 3M-4.3%
  • 1Y-9.0%
  • YTD-3.7%

Over the last 7 days, the Medical Equipment industry has dropped 2.2%, driven by Boston Scientific declining 18%. The industry has fallen 9.0% in the last year. 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
Sun, 08 Feb 2026US$1.3tUS$329.0bUS$25.9b32.8x51.8x4.1x
Tue, 06 Jan 2026US$1.4tUS$325.7bUS$32.4b29.9x42.9x4.3x
Thu, 04 Dec 2025US$1.4tUS$298.2bUS$31.1b28.9x44x4.6x
Sat, 01 Nov 2025US$1.3tUS$295.8bUS$31.6b27.7x41.5x4.4x
Mon, 29 Sep 2025US$1.3tUS$292.5bUS$31.4b27.9x41.3x4.4x
Wed, 27 Aug 2025US$1.3tUS$292.4bUS$31.4b29.6x42.8x4.6x
Fri, 25 Jul 2025US$1.3tUS$288.8bUS$30.7b30.9x43.8x4.6x
Sun, 22 Jun 2025US$1.3tUS$286.7bUS$29.6b29.3x44.2x4.6x
Tue, 20 May 2025US$1.4tUS$286.2bUS$29.3b33.3x46.9x4.8x
Thu, 17 Apr 2025US$1.2tUS$283.2bUS$27.9b29x44.7x4.4x
Sat, 15 Mar 2025US$1.3tUS$283.2bUS$27.5b31.2x47.2x4.6x
Mon, 10 Feb 2025US$1.4tUS$287.6bUS$30.5b35x46.1x4.9x
Wed, 08 Jan 2025US$1.3tUS$284.0bUS$23.6b34.4x55.7x4.6x
Fri, 06 Dec 2024US$1.3tUS$283.9bUS$23.4b36.8x57.5x4.8x
Sun, 03 Nov 2024US$1.3tUS$282.4bUS$23.2b35.8x56.8x4.7x
Tue, 01 Oct 2024US$1.3tUS$382.2bUS$32.8b39.9x40x3.4x
Thu, 29 Aug 2024US$1.3tUS$279.6bUS$22.2b36.8x58.5x4.6x
Sat, 27 Jul 2024US$1.2tUS$277.9bUS$23.0b37.1x53.3x4.4x
Mon, 24 Jun 2024US$1.3tUS$276.4bUS$22.7b36.7x55.1x4.5x
Wed, 22 May 2024US$1.3tUS$277.1bUS$23.0b37.5x55.3x4.6x
Fri, 19 Apr 2024US$1.2tUS$274.3bUS$23.8b35.9x51.3x4.5x
Sun, 17 Mar 2024US$1.3tUS$265.9bUS$22.6b39.6x56.1x4.8x
Tue, 13 Feb 2024US$1.3tUS$264.7bUS$22.4b35.6x56.2x4.7x
Thu, 11 Jan 2024US$1.2tUS$267.4bUS$20.2b38.6x60.9x4.6x
Sat, 09 Dec 2023US$1.1tUS$267.4bUS$20.2b36x56.6x4.3x
Mon, 06 Nov 2023US$1.1tUS$266.2bUS$19.3b34.9x55.8x4x
Wed, 04 Oct 2023US$1.1tUS$263.8bUS$15.0b34.9x73.6x4.2x
Fri, 01 Sep 2023US$1.2tUS$263.8bUS$15.0b35x79.5x4.5x
Sun, 30 Jul 2023US$1.3tUS$261.2bUS$15.3b38x83.8x4.9x
Tue, 27 Jun 2023US$1.3tUS$261.2bUS$16.2b36.5x78.2x4.8x
Thu, 25 May 2023US$1.2tUS$260.9bUS$16.7b35.9x72.9x4.7x
Sat, 22 Apr 2023US$1.3tUS$258.2bUS$17.4b37.9x73.2x4.9x
Mon, 20 Mar 2023US$1.1tUS$260.2bUS$18.6b37.1x61.1x4.4x
Wed, 15 Feb 2023US$1.2tUS$261.3bUS$19.4b35.2x61x4.5x
Price to Earnings Ratio

61x


Total Market Cap: US$1.2tTotal Earnings: US$19.4bTotal Revenue: US$261.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 56.3x202420252026
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 51.4x which is lower than its 3-year average PE of 56.3x.
  • The 3-year average PS ratio of 4.6x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 10% per year over the last three years.
  • Revenues for these companies have grown 8.0% 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 Market-0.071%
Healthcare1.29%
Medical Equipment-2.10%
Medical Supplies4.91%
Medical Equipment-2.86%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 21.0%, which is higher than its past year's earnings decline of 0.7% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading close to its 3-year average of 52.9x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 0.7% 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
ABT Abbott LaboratoriesUS$110.831.4%
+US$2.7b		-14.1%PE29.5x
MDLN MedlineUS$47.307.0%
+US$2.6b		n/aPE31.1x
RMD ResMedUS$271.635.2%
+US$1.9b		14.6%PE26.6x
BDX Becton DickinsonUS$210.023.2%
+US$1.9b		-8.6%PE35.7x
ALGN Align TechnologyUS$187.6015.1%
+US$1.8b		-10.9%PE32.8x

Latest News

SYK
US$358.29
Stryker
7D
-3.0%
1Y
-8.5%
GEHC
US$80.65
GE HealthCare Technologies
7D
2.1%
1Y
-8.0%

GE HealthCare Technologies Inc. (NASDAQ:GEHC) Yearly Results: Here's What Analysts Are Forecasting For This Year

Feb 07
GE HealthCare Technologies Inc. (NASDAQ:GEHC) Yearly Results: Here's What Analysts Are Forecasting For This Year
ABT
US$110.83
Abbott Laboratories
7D
1.4%
1Y
-14.1%
NVST
US$29.10
Envista Holdings
7D
24.0%
1Y
36.9%
BSX
US$76.27
Boston Scientific
7D
-18.5%
1Y
-27.5%

BSX: Execution Outperformance Should Drive Rebound As 2026 Patterns Normalize

The analyst price target for Boston Scientific has been reduced by about $17 to align with updated Street research. This reflects slightly lower revenue growth assumptions, a modestly higher discount rate, and a lower future P/E multiple, while profit margin expectations remain steady.
ALGN
US$187.60
Align Technology
7D
15.1%
1Y
-10.9%
STE
US$252.16
STERIS
7D
-4.0%
1Y
13.0%
PODD
US$241.93
Insulet
7D
-5.4%
1Y
-14.5%
DXCM
US$69.97
DexCom
7D
-4.2%
1Y
-20.6%

DXCM: Medicare Support And AI Coaching Features Will Sustain Long-Term Confidence

Analysts made only a slight upward tweak to the DexCom price target to about US$85, reflecting small adjustments to their growth, margin and P/E assumptions as they balance caution on rising competition with support from recent positive research updates. Analyst Commentary Recent research on DexCom reflects a split view, with some analysts highlighting supportive policy signals and valuation upside, while others focus on intensifying competition and reduced price targets.
IDXX
US$644.61
IDEXX Laboratories
7D
-3.9%
1Y
40.2%

IDXX: Recurring Diagnostics And Cancer Testing Pipeline Will Support Long Term Earnings Power

Analysts have reduced their price targets on IDEXX Laboratories by $20 to $30, reflecting updated assumptions around revenue growth, profit margins, and future P/E multiples, while maintaining a broadly similar view of fair value. Analyst Commentary Bullish analysts appear to see the recent price target cuts as more of a recalibration than a shift in their overall thesis on IDEXX Laboratories.
EW
US$78.71
Edwards Lifesciences
7D
-3.3%
1Y
11.9%
BDX
US$210.02
Becton Dickinson
7D
3.2%
1Y
-8.6%

BDX: FY26 Guidance Reset Will Support More Constructive 2026 MedTech Setup

Narrative update The analyst price target for Becton Dickinson has been revised from about US$322 to about US$253. Analysts cite updated assumptions for growth, margins and future P/E, and they also reflect mixed recent Street research that includes both target raises and cuts following FY26 guidance and Q4 results.
BAX
US$21.73
Baxter International
7D
8.3%
1Y
-29.0%

BAX: Q4 Results And 2026 Outlook Will Resolve Discounted Uncertainty

Analysts have made only minor tweaks to their modeled discount rate, revenue growth, profit margin, and future P/E for Baxter International, resulting in a relatively stable fair value estimate around $23.13. In contrast, Street price targets have shifted modestly, with one firm trimming its view to $30 and another nudging its target to $23 as they factor in current uncertainty and the potential clarity from upcoming results and the 2026 outlook.
RMD
US$271.63
ResMed
7D
5.2%
1Y
14.6%
MDLN
US$47.30
Medline
7D
7.0%
1Y
n/a
ISRG
US$488.15
Intuitive Surgical
7D
-3.2%
1Y
-16.3%