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U.S. Healthcare Sector Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies1387
  • 7D0.4%
  • 3M7.2%
  • 1Y4.5%
  • YTD0.3%

Over the last 7 days, the Healthcare industry has dropped 1.5%, driven by Eli Lilly declining 3.5%. Over the past 12 months, the industry was up 4.8%. Looking forward, earnings are forecast to grow by 17% annually.

Sector Valuation and Performance

Has the U.S. Healthcare Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026US$6.5tUS$3.2tUS$126.3b26.9x51.2x2x
Sat, 03 Jan 2026US$6.5tUS$3.2tUS$135.6b25.7x47.8x2x
Mon, 01 Dec 2025US$6.5tUS$3.2tUS$133.5b26.5x48.9x2.1x
Wed, 29 Oct 2025US$6.1tUS$3.1tUS$140.4b26x43.5x2x
Fri, 26 Sep 2025US$5.7tUS$3.1tUS$137.6b23.1x41.4x1.8x
Sun, 24 Aug 2025US$5.7tUS$3.1tUS$137.2b23.7x41.8x1.9x
Tue, 22 Jul 2025US$5.4tUS$3.0tUS$128.7b22.6x42x1.8x
Thu, 19 Jun 2025US$5.5tUS$3.0tUS$127.5b22.8x42.9x1.8x
Sat, 17 May 2025US$5.3tUS$3.0tUS$126.1b23.3x42.1x1.7x
Mon, 14 Apr 2025US$5.3tUS$2.6tUS$82.2b24.9x64.6x2x
Wed, 12 Mar 2025US$5.7tUS$2.6tUS$79.0b26.5x72.5x2.2x
Fri, 07 Feb 2025US$6.0tUS$2.6tUS$90.6b26.9x66x2.3x
Sun, 05 Jan 2025US$5.8tUS$2.9tUS$79.3b27.3x73.5x2x
Tue, 03 Dec 2024US$6.2tUS$2.9tUS$77.4b28.7x79.7x2.1x
Thu, 31 Oct 2024US$6.1tUS$2.8tUS$66.8b27.7x90.6x2.1x
Sat, 28 Sep 2024US$6.2tUS$2.8tUS$60.1b30.1x103.5x2.2x
Mon, 26 Aug 2024US$6.3tUS$2.8tUS$56.4b31.6x111.1x2.2x
Wed, 24 Jul 2024US$6.3tUS$2.8tUS$60.8b31.9x104.1x2.2x
Fri, 21 Jun 2024US$6.2tUS$2.8tUS$62.5b30x98.5x2.2x
Sun, 19 May 2024US$6.2tUS$2.8tUS$64.1b31.1x97.2x2.2x
Tue, 16 Apr 2024US$6.0tUS$2.8tUS$85.3b31.1x70.1x2.1x
Thu, 14 Mar 2024US$6.3tUS$2.8tUS$84.4b32.4x74.6x2.3x
Sat, 10 Feb 2024US$6.2tUS$2.8tUS$76.6b31.5x80.7x2.2x
Mon, 08 Jan 2024US$6.3tUS$2.8tUS$90.0b30.9x70.1x2.2x
Wed, 06 Dec 2023US$6.0tUS$2.8tUS$91.4b29x65.2x2.1x
Fri, 03 Nov 2023US$5.6tUS$2.8tUS$90.6b25.8x62x2x
Sun, 01 Oct 2023US$5.9tUS$2.8tUS$98.2b27.6x59.7x2.1x
Tue, 29 Aug 2023US$6.1tUS$2.8tUS$99.0b27.7x61.6x2.2x
Thu, 27 Jul 2023US$6.1tUS$2.7tUS$113.1b27.5x54.1x2.2x
Sat, 24 Jun 2023US$6.0tUS$2.7tUS$109.8b26.6x54.8x2.2x
Mon, 22 May 2023US$6.0tUS$2.7tUS$110.8b24.2x53.9x2.2x
Wed, 19 Apr 2023US$6.0tUS$2.5tUS$118.4b24.5x50.3x2.4x
Fri, 17 Mar 2023US$5.7tUS$2.5tUS$122.4b23.8x46.5x2.3x
Sun, 12 Feb 2023US$5.9tUS$2.5tUS$130.2b23.8x45.6x2.4x
Price to Earnings Ratio

45.6x


Total Market Cap: US$5.9tTotal Earnings: US$130.2bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Sector Price to Earnings3Y Average 65.3x202420252026
Current Industry PE
  • Investors are pessimistic on the American Healthcare 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 51.6x which is lower than its 3-year average PE of 65.2x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 9.2% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

Which industries have driven the changes within the U.S. Healthcare sector?

US Market-1.46%
Healthcare0.41%
Pharma5.84%
Biotech0.96%
Healthcare Services-2.47%
Medical Equipment-3.31%
Life Sciences-5.68%
Healthtech-11.68%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry, which is trading close to its 3-year average PE ratio of 56.4x.
    • Analysts are expecting annual earnings growth of 16.6%, which is higher than its past year's earnings growth of 8.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 23% over the next 5 years.
  • However this is lower than its past earnings growth rate of 56% per year.
  • In contrast, the Pharma 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
LLY Eli LillyUS$1.11k8.1%
+US$74.6b		31.5%PE48x
MRK MerckUS$118.3310.7%
+US$28.4b		32.0%PE16.1x
JNJ Johnson & JohnsonUS$234.473.0%
+US$16.3b		51.6%PE21.1x
AMGN AmgenUS$366.227.0%
+US$12.9b		19.0%PE25.6x
GILD Gilead SciencesUS$146.234.7%
+US$8.1b		46.7%PE22.4x

Latest News

LLY
US$1,107.12
Eli Lilly
7D
8.1%
1Y
31.5%
COR
US$329.97
Cencora
7D
-5.9%
1Y
30.3%
AMGN
US$366.22
Amgen
7D
7.0%
1Y
19.0%
MRK
US$118.33
Merck
7D
10.7%
1Y
32.0%
PFE
US$26.78
Pfizer
7D
3.6%
1Y
1.3%
BSX
US$75.50
Boston Scientific
7D
-19.5%
1Y
-28.1%
NTRA
US$205.61
Natera
7D
-12.9%
1Y
16.2%
VEEV
US$190.69
Veeva Systems
7D
-12.5%
1Y
-20.3%
IQV
US$202.54
IQVIA Holdings
7D
-15.5%
1Y
-1.4%

IQV: Stronger Demand Visibility And Healthier Pipeline Set Up Cleaner 2026 Earnings

Analysts have lifted their price targets on IQVIA Holdings by up to US$30, citing improved demand visibility into 2026, healthier book-to-bill and RFP pipelines, and expectations for modest margin expansion supported by automation and efficiencies. Analyst Commentary Bullish analysts are leaning positive on IQVIA Holdings, with several research notes pointing to a constructive setup into 2026.
JNJ
US$234.47
Johnson & Johnson
7D
3.0%
1Y
51.6%
UNH
US$275.92
UnitedHealth Group
7D
-6.2%
1Y
-48.9%

UNH: CMS Rate Pressure And Policy Probes Will Shape Outlook

Analysts have trimmed their price targets on UnitedHealth Group, which is reflected in our fair value estimate moving from US$307.82 to US$284.09, as they reassess revenue growth and profit margin assumptions in light of recent CMS rate notices and updated Street research. Analyst Commentary Recent Street research around UnitedHealth Group has turned more cautious, with a series of lower price targets and guarded commentary around policy risk and execution in government programs.
BMY
US$57.62
Bristol-Myers Squibb
7D
5.5%
1Y
-3.5%
ABT
US$108.20
Abbott Laboratories
7D
2.0%
1Y
-18.1%
TMO
US$565.22
Thermo Fisher Scientific
7D
-7.0%
1Y
-2.9%
GILD
US$146.23
Gilead Sciences
7D
4.7%
1Y
46.7%
ISRG
US$478.49
Intuitive Surgical
7D
-8.3%
1Y
-19.0%