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U.S. Medical Equipment Industry Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies195
  • 7D-0.8%
  • 3M0.3%
  • 1Y3.0%
  • YTDn/a

Last week, the Medical Equipment industry hasn't moved much but Abbott Laboratories is up 3.7% in that time. The past year has been better, since the industry has gained 3.0% in that time. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025US$1.2tUS$256.5bUS$32.8b31.3x37.9x4.8x
Sat, 16 Aug 2025US$1.3tUS$255.8bUS$32.8b29.8x38.5x4.9x
Mon, 14 Jul 2025US$1.3tUS$250.7bUS$30.5b33.7x41.3x5x
Wed, 11 Jun 2025US$1.3tUS$250.7bUS$30.5b33.4x41.3x5x
Fri, 09 May 2025US$1.3tUS$250.0bUS$30.1b32.1x41.6x5x
Sun, 06 Apr 2025US$1.1tUS$246.9bUS$28.4b28.7x40.3x4.6x
Tue, 04 Mar 2025US$1.3tUS$247.4bUS$28.2b33.1x46.8x5.3x
Thu, 30 Jan 2025US$1.3tUS$250.4bUS$29.5b36.8x45x5.3x
Sat, 28 Dec 2024US$1.2tUS$248.5bUS$22.4b37.2x54.9x4.9x
Mon, 25 Nov 2024US$1.2tUS$248.1bUS$22.1b37.4x56.4x5x
Wed, 23 Oct 2024US$1.2tUS$245.3bUS$20.9b38x59.3x5x
Fri, 20 Sep 2024US$1.2tUS$244.4bUS$20.6b38.1x58.7x4.9x
Sun, 18 Aug 2024US$1.2tUS$244.5bUS$20.2b34.6x58.3x4.8x
Tue, 16 Jul 2024US$1.2tUS$241.6bUS$20.6b35.8x56.3x4.8x
Thu, 13 Jun 2024US$1.2tUS$241.6bUS$20.6b34.9x56.3x4.8x
Sat, 11 May 2024US$1.2tUS$242.5bUS$21.0b35.6x55.4x4.8x
Mon, 08 Apr 2024US$1.2tUS$239.9bUS$21.8b38.3x54.5x5x
Wed, 06 Mar 2024US$1.2tUS$240.0bUS$22.0b36.9x54.6x5x
Fri, 02 Feb 2024US$1.2tUS$243.1bUS$21.5b36.7x55.5x4.9x
Sun, 31 Dec 2023US$1.1tUS$241.2bUS$19.9b37.4x57x4.7x
Tue, 28 Nov 2023US$1.1tUS$241.2bUS$19.9b35.4x53.3x4.4x
Thu, 26 Oct 2023US$964.4bUS$237.9bUS$15.9b31.9x60.8x4.1x
Sat, 23 Sep 2023US$1.0tUS$238.0bUS$15.7b35x66x4.3x
Mon, 21 Aug 2023US$1.1tUS$237.7bUS$15.8b36.8x68.1x4.5x
Wed, 19 Jul 2023US$1.2tUS$235.6bUS$16.7b37.7x71.1x5x
Fri, 16 Jun 2023US$1.2tUS$235.6bUS$16.7b37.2x69.2x4.9x
Sun, 14 May 2023US$1.2tUS$235.5bUS$17.1b37.6x68.1x5x
Tue, 11 Apr 2023US$1.1tUS$234.8bUS$18.9b34.4x58.5x4.7x
Thu, 09 Mar 2023US$1.0tUS$234.8bUS$18.9b38.7x55.5x4.5x
Sat, 04 Feb 2023US$1.1tUS$236.7bUS$19.5b33.4x57.9x4.8x
Mon, 02 Jan 2023US$1.0tUS$219.1bUS$18.9b31.6x54.8x4.7x
Wed, 30 Nov 2022US$1.0tUS$219.3bUS$19.0b30x53.4x4.6x
Fri, 28 Oct 2022US$989.4bUS$220.0bUS$20.9b33x47.4x4.5x
Sun, 25 Sep 2022US$942.2bUS$219.8bUS$25.0b33x37.7x4.3x
Price to Earnings Ratio

37.7x


Total Market Cap: US$942.2bTotal Earnings: US$25.0bTotal Revenue: US$219.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 54x202320242025
Current Industry PE
  • Investors are pessimistic on the American Healthcare 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 37.9x which is lower than its 3-year average PE of 54.0x.
  • The industry is trading close to its 3-year average PS ratio of 4.8x.
Past Earnings Growth
  • The earnings for companies in the Healthcare Equipment industry have grown 9.5% per year over the last three years.
  • Revenues for these companies have grown 5.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Medical Equipment compare with similar industries?

US Market1.17%
Healthcare-0.44%
Medical Equipment-0.89%
Medical Equipment-0.84%
Medical Supplies-1.87%
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
ABT Abbott LaboratoriesUS$134.173.7%
+US$8.4b		16.8%PE16.8x
MDT MedtronicUS$94.582.4%
+US$2.9b		7.3%PE26x
HOLX HologicUS$68.204.1%
+US$599.4m		-16.5%PE27.2x
STE STERISUS$248.792.0%
+US$488.5m		4.4%PE37.8x
TMDX TransMedics GroupUS$119.8111.2%
+US$409.8m		-23.2%PE57x

Latest News

BAX
US$23.20
Baxter International
7D
-3.3%
1Y
-41.1%
PODD
US$322.22
Insulet
7D
-4.6%
1Y
36.5%
MDT
US$94.58
Medtronic
7D
2.4%
1Y
7.3%
ABT
US$134.17
Abbott Laboratories
7D
3.7%
1Y
16.8%

There's No Escaping Abbott Laboratories' (NYSE:ABT) Muted Earnings

Sep 15
There's No Escaping Abbott Laboratories' (NYSE:ABT) Muted Earnings
HOLX
US$68.20
Hologic
7D
4.1%
1Y
-16.5%

Returns At Hologic (NASDAQ:HOLX) Appear To Be Weighed Down

Sep 13
Returns At Hologic (NASDAQ:HOLX) Appear To Be Weighed Down
KMTS
US$23.73
Kestra Medical Technologies
7D
30.5%
1Y
n/a
ISRG
US$433.66
Intuitive Surgical
7D
-3.6%
1Y
-10.0%
GEHC
US$76.63
GE HealthCare Technologies
7D
0.8%
1Y
-13.4%
SYK
US$376.88
Stryker
7D
-1.6%
1Y
4.3%
PEN
US$256.29
Penumbra
7D
-5.8%
1Y
31.0%

STORM-PE Trial And New Therapies Will Expand Global Reach

The reduction in Penumbra’s Analyst Price Target reflects a combination of weakening net profit margins and a higher future P/E multiple, with fair value revised down from $310.24 to $303.33. What's in the News Company completed repurchase of 517,763 shares (1.33%) for $100 million under the current buyback, with no shares repurchased in the latest quarter.
EW
US$75.20
Edwards Lifesciences
7D
-3.9%
1Y
11.4%
TMDX
US$119.81
TransMedics Group
7D
11.2%
1Y
-23.2%

Organ Transplant Demand And International Expansion Will Unlock Future Opportunities

Analysts have trimmed their price targets for TransMedics Group to $138.88 amid growing concerns about competitive pressures and mixed surgeon feedback on the OCS platform, despite continued confidence in company growth, reflecting a modest downward revision in fair value. Analyst Commentary Bullish analysts cite TransMedics as a best-in-class growth story, raising price targets following strong results.
STE
US$248.79
STERIS
7D
2.0%
1Y
4.4%

Healthcare Demand And Facility Expansion Will Create Value

With STERIS’s discount rate and future P/E both virtually unchanged, analyst valuation perspectives remain steady, resulting in an unchanged consensus price target of $272.38. What's in the News STERIS completed $200 million in share repurchases, totaling 907,158 shares (0.92%) under its current buyback program; no additional shares were repurchased in the latest quarter.
BSX
US$98.50
Boston Scientific
7D
-6.4%
1Y
19.3%
ZBH
US$99.92
Zimmer Biomet Holdings
7D
-2.3%
1Y
-6.0%

Aging Population And Robotics Will Elevate Orthopedic Care

Following stronger-than-expected Q2 results, raised guidance, and increased optimism about future earnings growth, analysts maintained Zimmer Biomet Holdings’ consensus price target at $110.92. Analyst Commentary Increased confidence in Zimmer Biomet’s second half performance following solid Q2 results.
IDXX
US$640.86
IDEXX Laboratories
7D
0.5%
1Y
25.3%

Advanced Diagnostics And International Expansion Will Define Future Opportunity

IDEXX Laboratories’ consensus price target has been sharply raised, reflecting strengthened revenue growth forecasts and a higher future P/E multiple, with fair value increasing from $542.55 to $657.55. What's in the News IDEXX Laboratories raised 2025 earnings guidance, increasing revenue outlook to $4,205–$4,280 million (up $90 million at midpoint) and EPS to $12.40–$12.76 (up $0.40 at midpoint), reflecting strong recurring diagnostics revenue, higher inVue Dx instrument placements, and favorable foreign exchange.