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U.S. Medical Equipment Industry Analysis

UpdatedSep 02, 2025
DataAggregated Company Financials
Companies234
  • 7D0.2%
  • 3M0.2%
  • 1Y3.3%
  • YTD4.2%

In the last week, the Medical Equipment industry is flat overall, with ResMed standing out by going down 3.7%. As for the the longer term, the industry is up 3.3% over the past 12 months. As for the next few years, earnings are expected to grow by 13% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Sep 2025US$1.3tUS$292.5bUS$31.4b28.9x42.9x4.6x
Thu, 31 Jul 2025US$1.3tUS$289.1bUS$30.7b33.3x43.9x4.7x
Sat, 28 Jun 2025US$1.3tUS$286.7bUS$29.6b30.8x45.4x4.7x
Mon, 26 May 2025US$1.3tUS$286.6bUS$29.6b31.4x44.6x4.6x
Wed, 23 Apr 2025US$1.2tUS$282.9bUS$27.9b29.5x44.1x4.4x
Fri, 21 Mar 2025US$1.3tUS$283.2bUS$27.5b29.5x48.4x4.7x
Sun, 16 Feb 2025US$1.4tUS$287.0bUS$30.4b34x46.6x4.9x
Tue, 14 Jan 2025US$1.3tUS$284.0bUS$23.1b34.7x57x4.6x
Thu, 12 Dec 2024US$1.3tUS$284.0bUS$23.5b37.3x56.8x4.7x
Sat, 09 Nov 2024US$1.3tUS$283.3bUS$22.7b36.9x58.3x4.7x
Mon, 07 Oct 2024US$1.3tUS$279.4bUS$22.2b37.1x58.4x4.6x
Wed, 04 Sep 2024US$1.3tUS$279.6bUS$22.2b36.6x59x4.7x
Fri, 02 Aug 2024US$1.2tUS$278.2bUS$23.1b37x52.9x4.4x
Sun, 30 Jun 2024US$1.2tUS$276.4bUS$22.7b36.7x54.7x4.5x
Tue, 28 May 2024US$1.3tUS$277.1bUS$22.5b37.5x56x4.5x
Thu, 25 Apr 2024US$1.2tUS$274.9bUS$24.2b36.5x51.5x4.5x
Sat, 23 Mar 2024US$1.3tUS$265.9bUS$22.6b39.9x56.2x4.8x
Mon, 19 Feb 2024US$1.3tUS$264.7bUS$22.2b35.9x56.6x4.8x
Wed, 17 Jan 2024US$1.2tUS$267.4bUS$20.2b38.4x61.6x4.6x
Fri, 15 Dec 2023US$1.2tUS$267.4bUS$20.2b37.4x58.9x4.4x
Sun, 12 Nov 2023US$1.0tUS$266.6bUS$19.8b34.4x52.6x3.9x
Tue, 10 Oct 2023US$1.1tUS$263.8bUS$15.1b34.8x72.7x4.2x
Thu, 07 Sep 2023US$1.2tUS$263.8bUS$15.0b34.7x78.8x4.5x
Sat, 05 Aug 2023US$1.2tUS$263.0bUS$15.3b37.3x80.1x4.7x
Mon, 03 Jul 2023US$1.3tUS$261.2bUS$16.2b37.2x79.9x4.9x
Wed, 31 May 2023US$1.2tUS$261.4bUS$16.3b35.8x73x4.6x
Fri, 28 Apr 2023US$1.3tUS$259.1bUS$17.3b37.7x73.2x4.9x
Sun, 26 Mar 2023US$1.2tUS$260.2bUS$18.5b36.9x62.6x4.5x
Tue, 21 Feb 2023US$1.2tUS$261.8bUS$19.3b37.7x61.2x4.5x
Thu, 19 Jan 2023US$1.2tUS$262.5bUS$20.8b33.5x56.1x4.5x
Sat, 17 Dec 2022US$1.1tUS$244.4bUS$19.0b30.9x58x4.5x
Mon, 14 Nov 2022US$1.1tUS$244.6bUS$21.2b34.6x51.9x4.5x
Wed, 12 Oct 2022US$1.0tUS$244.4bUS$26.5b32.2x38.3x4.2x
Fri, 09 Sep 2022US$1.1tUS$244.5bUS$26.3b34.2x42.8x4.6x
Price to Earnings Ratio

42.8x


Total Market Cap: US$1.1tTotal Earnings: US$26.3bTotal Revenue: US$244.5bTotal 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 42.9x 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 6.2% 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 Market0.45%
Healthcare0.79%
Medical Equipment0.19%
Medical Equipment0.30%
Medical Supplies-1.76%
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
ABT Abbott LaboratoriesUS$132.660.8%
+US$1.9b		15.7%PE16.6x
MDT MedtronicUS$92.810.7%
+US$808.1m		4.3%PE25.5x
PODD InsuletUS$339.882.4%
+US$566.7m		64.4%PE101.3x
IDXX IDEXX LaboratoriesUS$647.090.8%
+US$429.6m		38.0%PE52.5x
PEN PenumbraUS$272.642.5%
+US$259.0m		33.0%PE72x

Latest News

BSX
US$105.50
Boston Scientific
7D
-0.8%
1Y
30.0%
BDX
US$192.98
Becton Dickinson
7D
-0.6%
1Y
-20.3%
ISRG
US$473.30
Intuitive Surgical
7D
-0.2%
1Y
-2.1%
COO
US$67.40
Cooper Companies
7D
-8.5%
1Y
-36.5%

Expanding MyDay And MiSight Product Lines Will Meet Strong Market Demand

The consensus analyst price target for Cooper Companies has been revised downward, primarily reflecting a reduced future P/E multiple while revenue growth expectations remain stable, resulting in a new price target of $84.56. What's in the News Repurchased 724,300 shares for $52.1 million between May and July 2025; total buyback completed is 5,921,842 shares for $836.4 million (3.03% of shares outstanding).
STE
US$245.06
STERIS
7D
-1.4%
1Y
0.8%

Calculating The Fair Value Of STERIS plc (NYSE:STE)

Aug 28
Calculating The Fair Value Of STERIS plc (NYSE:STE)
PEN
US$272.64
Penumbra
7D
2.5%
1Y
33.0%
MDT
US$92.81
Medtronic
7D
0.7%
1Y
4.3%

Robotics And Digital Health Will Expand Global Reach

Analysts have raised Medtronic’s price target to $98.44, citing activist involvement, operational improvements, and favorable policy developments, though some concerns about execution remain. Analyst Commentary Bullish analysts have raised price targets on expectations that Elliott Management's active involvement and the addition of independent directors will sharpen Medtronic's strategic focus and drive stronger growth initiatives.
PODD
US$339.88
Insulet
7D
2.4%
1Y
64.4%
BAX
US$24.69
Baxter International
7D
0.8%
1Y
-34.8%
ABT
US$132.66
Abbott Laboratories
7D
0.8%
1Y
15.7%
RMD
US$274.51
ResMed
7D
-3.7%
1Y
12.1%
SYK
US$391.41
Stryker
7D
-0.7%
1Y
8.8%
DXCM
US$75.34
DexCom
7D
-1.0%
1Y
4.1%
IDXX
US$647.09
IDEXX Laboratories
7D
0.8%
1Y
38.0%

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.
HOLX
US$67.12
Hologic
7D
0.7%
1Y
-18.3%

Analysts Have Made A Financial Statement On Hologic, Inc.'s (NASDAQ:HOLX) Third-Quarter Report

Aug 04
Analysts Have Made A Financial Statement On Hologic, Inc.'s (NASDAQ:HOLX) Third-Quarter Report
GKOS
US$95.82
Glaukos
7D
2.2%
1Y
-28.0%