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U.S. Medical Equipment Industry Analysis

UpdatedNov 24, 2025
DataAggregated Company Financials
Companies239
  • 7D4.2%
  • 3M4.2%
  • 1Y4.1%
  • YTD8.7%

In the last week, the Medical Equipment industry is up 4.2%, with Intuitive Surgical up 5.9%. This takes the industry's 12 month performance to a gain of 4.1%. 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
Wed, 26 Nov 2025US$1.4tUS$298.2bUS$31.5b27.7x43.2x4.6x
Fri, 24 Oct 2025US$1.3tUS$294.1bUS$31.9b30.3x42.3x4.6x
Sun, 21 Sep 2025US$1.3tUS$292.5bUS$31.4b28.3x41.8x4.5x
Tue, 19 Aug 2025US$1.3tUS$291.8bUS$31.4b27.2x42.6x4.6x
Thu, 17 Jul 2025US$1.3tUS$286.7bUS$29.6b31x44.9x4.6x
Sat, 14 Jun 2025US$1.3tUS$286.7bUS$29.6b29.8x44.9x4.6x
Mon, 12 May 2025US$1.3tUS$286.2bUS$29.3b31.1x45.2x4.6x
Wed, 09 Apr 2025US$1.2tUS$282.8bUS$27.7b25.7x44.1x4.3x
Fri, 07 Mar 2025US$1.4tUS$283.1bUS$27.4b31.3x51.1x4.9x
Sun, 02 Feb 2025US$1.4tUS$286.0bUS$30.3b36x46.5x4.9x
Tue, 31 Dec 2024US$1.3tUS$284.0bUS$23.6b34.1x55.6x4.6x
Thu, 28 Nov 2024US$1.3tUS$283.5bUS$23.2b37.8x58x4.7x
Sat, 26 Oct 2024US$1.3tUS$281.2bUS$22.6b36.7x58.6x4.7x
Mon, 23 Sep 2024US$1.3tUS$279.4bUS$22.2b40.3x59.3x4.7x
Wed, 21 Aug 2024US$1.3tUS$279.6bUS$21.8b36.4x58.6x4.6x
Fri, 19 Jul 2024US$1.3tUS$276.4bUS$22.7b37.5x55.3x4.6x
Sun, 16 Jun 2024US$1.2tUS$276.4bUS$22.7b36.3x54.9x4.5x
Tue, 14 May 2024US$1.2tUS$277.0bUS$23.1b36.8x54x4.5x
Thu, 11 Apr 2024US$1.3tUS$274.1bUS$23.9b39.3x54.2x4.7x
Sat, 09 Mar 2024US$1.3tUS$266.0bUS$22.7b40x57.3x4.9x
Mon, 05 Feb 2024US$1.3tUS$269.2bUS$22.0b36x57.6x4.7x
Wed, 03 Jan 2024US$1.2tUS$267.4bUS$20.2b38.1x60x4.5x
Fri, 01 Dec 2023US$1.1tUS$267.4bUS$20.1b35.7x56.1x4.2x
Sun, 29 Oct 2023US$1.0tUS$264.9bUS$15.5b31.4x65.4x3.8x
Tue, 26 Sep 2023US$1.1tUS$263.8bUS$15.0b34.8x74.9x4.2x
Thu, 24 Aug 2023US$1.2tUS$263.7bUS$15.0b35.4x78.6x4.5x
Sat, 22 Jul 2023US$1.3tUS$259.7bUS$15.6b37.6x83.2x5x
Mon, 19 Jun 2023US$1.3tUS$261.2bUS$16.2b37x78.8x4.9x
Wed, 17 May 2023US$1.3tUS$260.9bUS$16.8b38.9x75x4.8x
Fri, 14 Apr 2023US$1.2tUS$260.2bUS$18.5b37.5x65.8x4.7x
Sun, 12 Mar 2023US$1.1tUS$260.3bUS$18.4b37.4x60.2x4.3x
Tue, 07 Feb 2023US$1.2tUS$260.7bUS$19.3b35.7x62.6x4.6x
Thu, 05 Jan 2023US$1.1tUS$244.1bUS$19.0b32.8x59.9x4.7x
Sat, 03 Dec 2022US$1.1tUS$244.3bUS$19.0b33x59.7x4.6x
Price to Earnings Ratio

59.7x


Total Market Cap: US$1.1tTotal Earnings: US$19.0bTotal Revenue: US$244.3bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 57.2x202320242025
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 43.2x which is lower than its 3-year average PE of 57.2x.
  • 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 18% per year over the last three years.
  • Revenues for these companies have grown 6.9% 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 Market2.41%
Healthcare4.64%
Medical Equipment4.17%
Medical Supplies8.89%
Medical Equipment3.92%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 53.7x.
    • Analysts are expecting annual earnings growth of 12.6%, which is lower than the prior year's growth of 16.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 0.09% per year.
  • In contrast, the Medical Equipment industry is expected to see its earnings grow by 13% 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
ISRG Intuitive SurgicalUS$578.875.9%
+US$11.4b		6.8%PE74.7x
IDXX IDEXX LaboratoriesUS$766.6814.4%
+US$7.7b		83.7%PE59.6x
MDT MedtronicUS$105.354.5%
+US$5.8b		23.0%PE28.4x
SYK StrykerUS$375.083.0%
+US$4.1b		-3.4%PE48.7x
GEHC GE HealthCare TechnologiesUS$79.9610.6%
+US$3.5b		-3.7%PE16.4x

Latest News

GEHC
US$79.96
GE HealthCare Technologies
7D
10.6%
1Y
-3.7%
EMBC
US$13.58
Embecta
7D
-4.0%
1Y
-34.0%
PODD
US$328.85
Insulet
7D
-1.4%
1Y
23.4%

PODD: Expansion Into Type 2 Diabetes Will Drive Market Leadership Ahead

Insulet's analyst fair value estimate has increased by approximately $12 to $378, as analysts cite robust multi-year growth forecasts and successful expansion in both Type 1 and Type 2 diabetes markets following recent company presentations and results. Analyst Commentary Recent research coverage of Insulet reflects ongoing optimism about the company's market positioning and future growth, as well as areas of continued scrutiny from analysts.
MDT
US$105.35
Medtronic
7D
4.5%
1Y
23.0%

MDT: Expect Future Performance To Reflect New Products And Evolving Corporate Focus

Medtronic's fair value estimate has been raised from $101.13 to $109.82 per share. This reflects analysts' view that accelerating sales growth, improved guidance, and sustained operational progress support a higher valuation.
BEAT
US$0.58
HeartBeam
7D
-65.7%
1Y
-79.2%
ZBH
US$97.07
Zimmer Biomet Holdings
7D
8.5%
1Y
-13.3%

ZBH: Share Momentum Will Improve As New Product Launches Drive Recovery

Zimmer Biomet Holdings' analyst price target was reduced from approximately $104.84 to $102.92 per share. This change reflects cautious analyst sentiment following the company's mixed third-quarter results, tightening of guidance, and lowered growth expectations.
SYK
US$375.08
Stryker
7D
3.0%
1Y
-3.4%
ABT
US$128.05
Abbott Laboratories
7D
-1.5%
1Y
8.6%
VREX
US$11.21
Varex Imaging
7D
-5.5%
1Y
-32.1%

Varex Imaging Corporation (NASDAQ:VREX) Shares Could Be 35% Below Their Intrinsic Value Estimate

Nov 20
Varex Imaging Corporation (NASDAQ:VREX) Shares Could Be 35% Below Their Intrinsic Value Estimate
PMI
US$2.05
Picard Medical
7D
-13.5%
1Y
n/a
IDXX
US$766.68
IDEXX Laboratories
7D
14.4%
1Y
83.7%

IDXX: Future Revenue Acceleration Will Drive Premium Multiples and Shareholder Returns

The analyst price target for IDEXX Laboratories has increased significantly, rising by over $50 to approximately $755. Analysts cite a stronger growth outlook, durable pricing, and robust quarterly results as supporting factors for higher valuations.
SSII
US$6.06
SS Innovations International
7D
-5.5%
1Y
63.8%

SS Innovations International, Inc.'s (NASDAQ:SSII) 29% Cheaper Price Remains In Tune With Revenues

Nov 14
SS Innovations International, Inc.'s (NASDAQ:SSII) 29% Cheaper Price Remains In Tune With Revenues
ISRG
US$578.87
Intuitive Surgical
7D
5.9%
1Y
6.8%
EW
US$86.82
Edwards Lifesciences
7D
3.3%
1Y
21.3%

EW: Future Progress Will Hinge On Durable Outcomes And Market Expansion

The analyst price target for Edwards Lifesciences has increased from approximately $88.83 to $93.94. Analysts point to strong quarterly results and sustained momentum in transcatheter aortic valve replacements as key drivers of the upward revision.
LMAT
US$83.49
LeMaitre Vascular
7D
-3.8%
1Y
-21.1%
BSX
US$101.36
Boston Scientific
7D
2.2%
1Y
12.4%

BSX: Shares Will See Momentum From Recent Acquisition And Execution Confidence

Boston Scientific's analyst price target has been increased modestly, with the consensus now reflecting a higher fair value in addition to ongoing confidence in robust growth prospects and recent business performance, as analysts cite solid quarterly results, improving guidance, and successful strategic acquisitions. Analyst Commentary Recent analyst research on Boston Scientific highlights both optimistic and cautious perspectives regarding the company's valuation, strategic moves, and long-term growth outlook.