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U.S. Medical Equipment Industry Analysis

UpdatedMay 21, 2026
DataAggregated Company Financials
Companies240
  • 7D4.0%
  • 3M-15.1%
  • 1Y-18.6%
  • YTD-18.3%

In the last week, the Medical Equipment industry is up 4.0%, with Abbott Laboratories leading the way, up 5.4%. Meanwhile, Medline actually underperformed within the industry, shrinking 6.4% in the last week. 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
Thu, 21 May 2026US$1.1tUS$335.3bUS$25.5b25x43.9x3.3x
Sat, 18 Apr 2026US$1.2tUS$330.5bUS$24.7b26x48.3x3.6x
Mon, 16 Mar 2026US$1.2tUS$333.8bUS$26.5b28.1x46.7x3.7x
Wed, 11 Feb 2026US$1.3tUS$329.3bUS$25.8b30.9x51.7x4.1x
Fri, 09 Jan 2026US$1.4tUS$325.7bUS$32.4b31.1x44.1x4.4x
Sun, 07 Dec 2025US$1.4tUS$298.2bUS$31.1b29.2x44.2x4.6x
Tue, 04 Nov 2025US$1.3tUS$296.3bUS$31.9b27.6x40.9x4.4x
Thu, 02 Oct 2025US$1.3tUS$292.5bUS$31.4b30.1x41.6x4.5x
Sat, 30 Aug 2025US$1.3tUS$292.5bUS$31.4b29.1x42.7x4.6x
Mon, 28 Jul 2025US$1.3tUS$289.1bUS$30.6b33.3x44x4.7x
Wed, 25 Jun 2025US$1.3tUS$286.7bUS$29.6b30.1x45.4x4.7x
Fri, 23 May 2025US$1.3tUS$286.6bUS$29.6b31.8x45.1x4.7x
Sun, 20 Apr 2025US$1.3tUS$283.2bUS$27.9b29.4x45x4.4x
Tue, 18 Mar 2025US$1.3tUS$283.2bUS$27.5b30.3x47.7x4.6x
Thu, 13 Feb 2025US$1.4tUS$286.8bUS$30.3b33.6x46.6x4.9x
Sat, 11 Jan 2025US$1.3tUS$284.0bUS$23.1b34.2x57.6x4.7x
Mon, 09 Dec 2024US$1.3tUS$284.0bUS$23.5b36.8x56.8x4.7x
Wed, 06 Nov 2024US$1.3tUS$282.5bUS$23.2b35.9x56.8x4.7x
Fri, 04 Oct 2024US$1.3tUS$279.4bUS$22.2b38.9x59.3x4.7x
Sun, 01 Sep 2024US$1.3tUS$279.7bUS$22.2b35.9x59x4.7x
Tue, 30 Jul 2024US$1.2tUS$277.9bUS$23.0b37.8x52.7x4.4x
Thu, 27 Jun 2024US$1.2tUS$276.4bUS$22.7b36.1x54.6x4.5x
Sat, 25 May 2024US$1.3tUS$277.1bUS$23.0b37.5x54.4x4.5x
Mon, 22 Apr 2024US$1.2tUS$274.5bUS$24.0b35.1x50.8x4.4x
Wed, 20 Mar 2024US$1.3tUS$265.9bUS$22.6b39.6x56.5x4.8x
Fri, 16 Feb 2024US$1.2tUS$264.6bUS$22.3b36x55.9x4.7x
Sun, 14 Jan 2024US$1.2tUS$267.4bUS$20.2b38.3x61.6x4.6x
Tue, 12 Dec 2023US$1.2tUS$267.4bUS$20.2b36.1x57.1x4.3x
Thu, 09 Nov 2023US$1.1tUS$266.7bUS$19.7b34.1x53.9x4x
Sat, 07 Oct 2023US$1.1tUS$263.8bUS$15.1b34.1x72.9x4.2x
Mon, 04 Sep 2023US$1.2tUS$263.8bUS$15.0b34.2x79.6x4.5x
Wed, 02 Aug 2023US$1.3tUS$261.3bUS$15.1b38.4x83.3x4.8x
Fri, 30 Jun 2023US$1.3tUS$261.2bUS$16.2b37.2x78.9x4.9x
Sun, 28 May 2023US$1.2tUS$261.4bUS$16.4b36.4x73.3x4.6x
Price to Earnings Ratio

73.3x


Total Market Cap: US$1.2tTotal Earnings: US$16.4bTotal Revenue: US$261.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 54.6x202420252026
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 43.9x which is lower than its 3-year average PE of 54.6x.
  • The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 3.3x.
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 Market-0.32%
Healthcare-0.29%
Medical Equipment4.03%
Medical Equipment4.74%
Medical Supplies-1.38%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry which is trading above its 3-year average PE ratio of 20.4x.
    • Analysts are expecting annual earnings growth of 21.6%, which is higher than its past year's earnings decline of 3.4% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 51.6x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings decline of 3.4% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 15% 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$88.385.4%
+US$7.9b		-33.6%PE24.6x
SYK StrykerUS$321.496.4%
+US$7.4b		-15.3%PE36.9x
ISRG Intuitive SurgicalUS$449.033.9%
+US$5.9b		-17.9%PE53.4x
BSX Boston ScientificUS$56.676.8%
+US$5.4b		-45.8%PE23.6x
DXCM DexComUS$71.4422.0%
+US$5.0b		-15.8%PE29.6x

Latest News

MDT
US$78.15
Medtronic
7D
2.5%
1Y
-7.4%
MDLN
US$36.25
Medline
7D
-6.4%
1Y
n/a
IDXX
US$553.58
IDEXX Laboratories
7D
4.7%
1Y
10.5%
CLPT
US$11.20
ClearPoint Neuro
7D
-8.1%
1Y
-7.9%
DXCM
US$71.44
DexCom
7D
22.0%
1Y
-15.8%
BSX
US$56.67
Boston Scientific
7D
6.8%
1Y
-45.8%
MBOT
US$1.74
Microbot Medical
7D
-19.8%
1Y
-31.5%
GMED
US$84.03
Globus Medical
7D
11.2%
1Y
41.8%
ABT
US$88.38
Abbott Laboratories
7D
5.4%
1Y
-33.6%
NVCR
US$17.75
NovoCure
7D
-1.9%
1Y
0%
Narrative Update • May 17

NVCR: Mixed TTFields Progress And Guidance Will Shape Shares In 2026

NovoCure's analyst price target has increased from $13.50 to $17.00, with analysts citing updated assumptions around revenue growth, discount rates, profit margins, and future P/E multiples as key drivers of the change. Analyst Commentary Recent Street research shows that views on NovoCure remain mixed, with some analysts lifting price targets and others trimming them as they revisit assumptions around revenue growth, discount rates, profit margins, and future P/E multiples.
KMTS
US$20.76
Kestra Medical Technologies
7D
-3.2%
1Y
-10.1%
SYK
US$321.49
Stryker
7D
6.4%
1Y
-15.3%
Narrative Update • May 14

SYK: Hospital Digitization And Cyber Resilience Will Support 2026 Upside

Analysts have nudged Stryker's fair value estimate lower to about $389 from roughly $419, as a wave of reduced price targets led by firms like Truist, Barclays and others has been paired with updated assumptions for slightly lower future P/E multiples, alongside higher projected revenue growth and profit margins. Analyst Commentary Recent research around Stryker has tilted more cautious, with a cluster of reduced price targets across multiple firms, offset by a smaller group of more supportive views.
ISRG
US$449.03
Intuitive Surgical
7D
3.9%
1Y
-17.9%
XRAY
US$9.84
DENTSPLY SIRONA
7D
-5.7%
1Y
-37.8%
USBC
US$0.42
USBC
7D
-37.8%
1Y
-17.4%