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U.S. Healthcare Sector Analysis

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies1390
  • 7D0.3%
  • 3M-7.0%
  • 1Y11.1%
  • YTD-5.1%

The Healthcare is pretty flat in the last 7 days, but UnitedHealth Group has stood out, gaining 9.8%. The past year has been better, since the industry has gained 11% in that time. Earnings are forecast to grow by 16% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026US$6.3tUS$3.3tUS$127.3b22.7x49.3x1.9x
Mon, 09 Mar 2026US$6.4tUS$3.3tUS$125.5b24.9x50.6x1.9x
Wed, 04 Feb 2026US$6.5tUS$3.2tUS$126.5b26.2x51.6x2x
Fri, 02 Jan 2026US$6.5tUS$3.2tUS$135.6b25.8x47.8x2x
Sun, 30 Nov 2025US$6.5tUS$3.2tUS$133.5b26.5x48.9x2.1x
Tue, 28 Oct 2025US$6.1tUS$3.1tUS$140.4b26.2x43.3x2x
Thu, 25 Sep 2025US$5.7tUS$3.1tUS$137.6b23.6x41.5x1.8x
Sat, 23 Aug 2025US$5.7tUS$3.1tUS$137.2b23.7x41.4x1.8x
Mon, 21 Jul 2025US$5.4tUS$3.0tUS$128.8b22.7x42x1.8x
Wed, 18 Jun 2025US$5.5tUS$3.0tUS$127.4b22.6x43.5x1.8x
Fri, 16 May 2025US$5.2tUS$3.0tUS$125.8b23.2x41.7x1.7x
Sun, 13 Apr 2025US$5.3tUS$2.6tUS$82.2b24.9x64.7x2x
Tue, 11 Mar 2025US$5.8tUS$2.6tUS$78.7b27.4x74x2.2x
Thu, 06 Feb 2025US$5.9tUS$2.6tUS$88.1b27.5x67.1x2.2x
Sat, 04 Jan 2025US$5.8tUS$2.9tUS$79.3b27.3x72.7x2x
Mon, 02 Dec 2024US$6.2tUS$2.9tUS$77.3b28.8x79.8x2.1x
Wed, 30 Oct 2024US$6.1tUS$2.8tUS$66.3b29.5x91.3x2.1x
Fri, 27 Sep 2024US$6.2tUS$2.8tUS$60.0b29.9x103.2x2.2x
Sun, 25 Aug 2024US$6.3tUS$2.8tUS$56.4b31.6x111.1x2.2x
Tue, 23 Jul 2024US$6.3tUS$2.8tUS$60.7b31.9x103.5x2.2x
Thu, 20 Jun 2024US$6.2tUS$2.8tUS$62.5b29.9x98.5x2.2x
Sat, 18 May 2024US$6.2tUS$2.8tUS$64.2b30.5x97x2.2x
Mon, 15 Apr 2024US$6.0tUS$2.8tUS$85.4b31.9x70x2.1x
Wed, 13 Mar 2024US$6.3tUS$2.8tUS$85.3b32.4x73.6x2.3x
Fri, 09 Feb 2024US$6.2tUS$2.8tUS$76.5b31.3x80.6x2.2x
Sun, 07 Jan 2024US$6.3tUS$2.8tUS$90.0b30.9x70.1x2.2x
Tue, 05 Dec 2023US$5.9tUS$2.8tUS$91.4b29.2x65x2.1x
Thu, 02 Nov 2023US$5.6tUS$2.8tUS$93.3b24.6x60x2x
Sat, 30 Sep 2023US$5.9tUS$2.8tUS$98.6b27.6x59.8x2.1x
Mon, 28 Aug 2023US$6.1tUS$2.8tUS$99.0b27.7x61.6x2.2x
Wed, 26 Jul 2023US$6.1tUS$2.7tUS$110.1b27x55.6x2.2x
Fri, 23 Jun 2023US$6.0tUS$2.7tUS$109.8b26.6x54.8x2.2x
Sun, 21 May 2023US$6.0tUS$2.7tUS$110.8b24.2x53.9x2.2x
Tue, 18 Apr 2023US$6.0tUS$2.5tUS$123.6b24.5x48.4x2.4x
Price to Earnings Ratio

48.4x


Total Market Cap: US$6.0tTotal Earnings: US$123.6bTotal Revenue: US$2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Sector Price to Earnings3Y Average 65.5x202420252026
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 49.3x which is lower than its 3-year average PE of 65.5x.
  • 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 9.7% 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 Market3.31%
Healthcare0.31%
Healthcare Services4.85%
Medical Equipment0.098%
Life Sciences-0.14%
Biotech-0.18%
Pharma-0.60%
Healthtech-9.36%
Industry PE
  • Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 55.6x.
    • Analysts are expecting annual earnings growth of 16.0%, which is higher than its past year's earnings growth of 7.5% 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 50% per year.
  • In contrast, the Pharma industry is expected to see its earnings grow by 11% 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
UNH UnitedHealth GroupUS$304.339.8%
+US$24.6b		-49.2%PE22.9x
CVS CVS HealthUS$79.337.9%
+US$7.5b		14.1%PE57.5x
HCA HCA HealthcareUS$495.475.0%
+US$5.3b		48.6%PE16.3x
LLY Eli LillyUS$939.470.4%
+US$3.5b		28.3%PE40.7x
SYK StrykerUS$339.152.3%
+US$2.9b		-3.2%PE40x

Latest News

JNJ
US$238.46
Johnson & Johnson
7D
-1.9%
1Y
57.2%
MCK
US$865.60
McKesson
7D
-2.1%
1Y
25.6%

MCK: Biosimilar Co Manufacturing Optionality Will Shape Future Safe Haven Appeal

McKesson's analyst-derived fair value estimate has been adjusted slightly lower, from about $997.67 to $991.67. Analysts are weighing recent trims to Street price targets and fresh caution around premium valuation against prior enthusiasm for biosimilar optionality and healthcare defensiveness.
VEEV
US$151.43
Veeva Systems
7D
-13.0%
1Y
-30.5%
AMGN
US$351.02
Amgen
7D
0.9%
1Y
22.7%
HCA
US$495.47
HCA Healthcare
7D
5.0%
1Y
48.6%

HCA: Georgia Medicaid SDP And AI Efficiency Efforts Will Shape Future Upside

Analysts have lifted their average HCA Healthcare price target by $50, pointing to factors such as CMS approval of Georgia's $1.9b Medicaid SDP program and expectations that AI driven efficiency gains could support higher valuation multiples over time. Analyst Commentary Recent Street research around HCA Healthcare clusters around two themes: how the Georgia Medicaid SDP approval could support earnings and how AI related efficiency efforts could influence valuation multiples over time.
LLY
US$939.47
Eli Lilly
7D
0.4%
1Y
28.3%
TMO
US$496.11
Thermo Fisher Scientific
7D
0.9%
1Y
13.2%
ABT
US$100.30
Abbott Laboratories
7D
-2.5%
1Y
-20.9%

ABT: AF Portfolio And Dividend Track Record Will Support Future Upside

Abbott Laboratories' updated analyst price target reflects a modest reset, with fair value moving from $132.64 to $131.44 as analysts factor in higher assumed revenue growth of 10.24%, a lower profit margin of 15.60% and a slightly richer future P/E of 30.91x. Analyst Commentary Recent research on Abbott Laboratories points to an active debate around how much investors should pay for the stock, with several price target changes clustered over the past few months.
CVS
US$79.33
CVS Health
7D
7.9%
1Y
14.1%

CVS: Medicare Advantage Turnaround Will Support Future Earnings Recovery

Analysts have trimmed the average CVS Health price target by a few dollars to around the mid $90s. This reflects slightly softer revenue growth assumptions, modestly higher margin expectations, and updated views on Medicare Advantage and regulatory risks following recent CMS and FTC related commentary.
GH
US$78.60
Guardant Health
7D
-16.2%
1Y
79.8%
ELV
US$311.53
Elevance Health
7D
3.6%
1Y
-29.2%

Elevance Health: New Medicare Payment Rate A Gift, And The Chart Looks Good

Apr 07
BMY
US$58.62
Bristol-Myers Squibb
7D
-1.6%
1Y
15.6%
SYK
US$339.15
Stryker
7D
2.3%
1Y
-3.2%

SYK: Diversified Growth Drivers And Robotics Adoption Will Support 2026 Upside

The updated analyst price target for Stryker edges slightly higher to about $425 per share, as analysts balance recent target trims with continued support from firms highlighting a healthy U.S. medtech backdrop, diversified growth drivers, and potential near term catalysts. Analyst Commentary Recent research paints a mixed but generally constructive picture for Stryker, with several firms adjusting price targets and ratings as they reassess growth drivers, execution, and valuation against a still supportive U.S. medtech backdrop.
UNH
US$304.33
UnitedHealth Group
7D
9.8%
1Y
-49.2%

UnitedHealth: Why It's Still Not Too Late To Buy The Turnaround

Apr 05
NTRA
US$193.03
Natera
7D
-7.2%
1Y
30.4%

NTRA: Molecular Residual Disease Leadership Will Drive Bullish Long Term Outlook

Analysts made a modest trim to the blended price target on Natera to about $259, reflecting slightly lower modeled revenue growth and profit margins. This adjustment comes even as several firms recently raised individual targets into the $215 to $300 range after updating their views on the company following Q4 results and new coverage initiations.
PFE
US$26.92
Pfizer
7D
-4.9%
1Y
22.9%

PFE: Obesity And Oncology Pipeline Progress Will Drive Post LOE Rerating

Analysts have nudged Pfizer's implied fair value modestly higher to about $35.33 per share, citing recent price target increases of around $1 to $3 and research that highlights contributions from its GLP-1, oncology, and hematology pipelines, while also noting the long-term patent cliff and revenue uncertainty. Analyst Commentary Recent research on Pfizer shows a split view, with some firms highlighting long term headwinds from loss of exclusivity while others point to pipeline depth and business development as potential offsets.