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U.S. Medical Equipment Industry Analysis

UpdatedSep 07, 2025
DataAggregated Company Financials
Companies234
  • 7D0.4%
  • 3M0.004%
  • 1Y5.3%
  • YTD4.8%

Over the last 7 days, the Medical Equipment industry has remained flat. The past year has been better, since the industry has gained 5.3% in that time. Earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 07 Sep 2025US$1.3tUS$292.5bUS$31.4b29.5x42.8x4.6x
Tue, 05 Aug 2025US$1.3tUS$290.6bUS$31.4b29x41.4x4.5x
Thu, 03 Jul 2025US$1.4tUS$286.7bUS$29.6b30.6x46.1x4.8x
Sat, 31 May 2025US$1.3tUS$286.7bUS$29.6b32x45.4x4.7x
Mon, 28 Apr 2025US$1.3tUS$284.4bUS$28.3b31.6x46.1x4.6x
Wed, 26 Mar 2025US$1.3tUS$283.3bUS$27.4b29.7x48.8x4.7x
Fri, 21 Feb 2025US$1.4tUS$282.3bUS$30.1b32.6x47.1x5x
Sun, 19 Jan 2025US$1.4tUS$284.0bUS$23.1b36.4x59.2x4.8x
Tue, 17 Dec 2024US$1.3tUS$284.0bUS$23.6b35.7x56x4.6x
Thu, 14 Nov 2024US$1.3tUS$283.5bUS$23.0b37.2x58.4x4.7x
Sat, 12 Oct 2024US$1.3tUS$279.4bUS$22.1b37x58.9x4.7x
Mon, 09 Sep 2024US$1.3tUS$279.6bUS$22.2b37x58.2x4.6x
Wed, 07 Aug 2024US$1.2tUS$278.5bUS$23.2b35.7x51.9x4.3x
Fri, 05 Jul 2024US$1.2tUS$276.4bUS$22.7b36.6x53.8x4.4x
Sun, 02 Jun 2024US$1.2tUS$276.3bUS$22.7b37x54.5x4.5x
Tue, 30 Apr 2024US$1.2tUS$275.5bUS$24.4b36.7x51.1x4.5x
Thu, 28 Mar 2024US$1.3tUS$265.9bUS$22.6b40.6x58x4.9x
Sat, 24 Feb 2024US$1.3tUS$265.9bUS$22.7b35.8x56.7x4.8x
Mon, 22 Jan 2024US$1.2tUS$267.4bUS$20.2b37.8x61.7x4.7x
Wed, 20 Dec 2023US$1.2tUS$267.4bUS$20.2b37.4x59.5x4.5x
Fri, 17 Nov 2023US$1.1tUS$267.0bUS$19.7b35.3x56.2x4.1x
Sun, 15 Oct 2023US$1.0tUS$263.9bUS$15.1b33.2x69.1x3.9x
Tue, 12 Sep 2023US$1.2tUS$263.8bUS$15.0b34.8x78.6x4.5x
Thu, 10 Aug 2023US$1.2tUS$263.4bUS$15.2b35.5x79.5x4.6x
Sat, 08 Jul 2023US$1.3tUS$260.7bUS$16.2b36.8x77.7x4.8x
Mon, 05 Jun 2023US$1.2tUS$261.2bUS$16.2b36.4x75.6x4.7x
Wed, 03 May 2023US$1.3tUS$259.8bUS$17.4b38x73x4.9x
Fri, 31 Mar 2023US$1.2tUS$260.2bUS$18.5b36.2x63.4x4.5x
Sun, 26 Feb 2023US$1.1tUS$259.7bUS$18.7b38.4x61.3x4.4x
Tue, 24 Jan 2023US$1.2tUS$262.4bUS$20.8b34.1x57.3x4.5x
Thu, 22 Dec 2022US$1.1tUS$244.4bUS$19.0b33x58.8x4.6x
Sat, 19 Nov 2022US$1.1tUS$244.5bUS$20.0b32.3x54.3x4.4x
Mon, 17 Oct 2022US$1.0tUS$244.4bUS$26.5b31.1x38.1x4.1x
Wed, 14 Sep 2022US$1.2tUS$244.6bUS$26.3b34.6x44x4.7x
Price to Earnings Ratio

44x


Total Market Cap: US$1.2tTotal Earnings: US$26.3bTotal Revenue: US$244.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 57.4x202320242025
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 42.8x which is lower than its 3-year average PE of 57.4x.
  • The industry is trading close to its 3-year average PS ratio of 4.6x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 6.1% per year over the last three years.
  • Revenues for these companies have grown 6.1% 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 Market0.43%
Healthcare0.81%
Medical Equipment0.37%
Medical Equipment0.38%
Medical Supplies0.30%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 54.0x.
    • Analysts are expecting annual earnings growth of 11.8%, which is lower than the prior year's growth of 16.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings decline of 0.3% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 12% 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
BSX Boston ScientificUS$107.221.6%
+US$2.5b		31.4%PE63.4x
DXCM DexComUS$80.516.9%
+US$2.0b		17.3%PE55.2x
GEHC GE HealthCare TechnologiesUS$75.732.7%
+US$913.1m		-11.0%PE15.4x
PODD InsuletUS$348.432.5%
+US$601.9m		62.2%PE103.9x
ABT Abbott LaboratoriesUS$132.940.2%
+US$487.3m		16.8%PE16.6x

Latest News

PODD
US$348.43
Insulet
7D
2.5%
1Y
62.2%

Market Participants Recognise Insulet Corporation's (NASDAQ:PODD) Revenues Pushing Shares 26% Higher

Sep 06
Market Participants Recognise Insulet Corporation's (NASDAQ:PODD) Revenues Pushing Shares 26% Higher
EW
US$80.94
Edwards Lifesciences
7D
-0.5%
1Y
21.1%
TMDX
US$104.01
TransMedics Group
7D
-9.5%
1Y
-25.6%

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.
BAX
US$24.42
Baxter International
7D
-1.1%
1Y
-37.3%

Hospital Normalization And Demographic Trends Will Support Connected Healthcare

Baxter International's consensus price target was slightly reduced to $29.00, as disappointing Q2 results, lowered full-year guidance, and a slower-than-expected path to sales and margin improvement undermined near-term growth confidence. Analyst Commentary Disappointing Q2 performance and reduced full-year guidance undermined near-term confidence in Baxter's growth trajectory.
BSX
US$107.22
Boston Scientific
7D
1.6%
1Y
31.4%
INSP
US$86.46
Inspire Medical Systems
7D
-7.7%
1Y
-56.1%
IRTC
US$181.05
iRhythm Technologies
7D
6.5%
1Y
169.4%
BDX
US$192.39
Becton Dickinson
7D
-0.3%
1Y
-17.3%
ISRG
US$466.86
Intuitive Surgical
7D
-1.4%
1Y
-1.1%
GEHC
US$75.73
GE HealthCare Technologies
7D
2.7%
1Y
-11.0%
MASI
US$147.19
Masimo
7D
5.4%
1Y
32.0%
ABT
US$132.94
Abbott Laboratories
7D
0.2%
1Y
16.8%
SYK
US$392.31
Stryker
7D
0.2%
1Y
9.3%
DXCM
US$80.51
DexCom
7D
6.9%
1Y
17.3%
IDXX
US$642.99
IDEXX Laboratories
7D
-0.6%
1Y
36.1%

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.
ALGN
US$139.12
Align Technology
7D
-2.0%
1Y
-37.1%