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U.S. Healthcare Services Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies162
  • 7D4.5%
  • 3M-13.0%
  • 1Y-24.6%
  • YTD-11.4%

In the last week, the Healthcare Services industry is up 4.5%, with UnitedHealth Group up 7.0%. In the same time, DaVita was down 5.7%. In contrast, the industry has lost 25% in the last 12 months. Looking forward, earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$804.1bUS$2.2tUS$28.0b21.7x28.7x0.4x
Tue, 03 Mar 2026US$867.6bUS$2.2tUS$27.7b23.7x31.3x0.4x
Thu, 29 Jan 2026US$834.0bUS$2.2tUS$29.4b22x28.3x0.4x
Sat, 27 Dec 2025US$895.8bUS$2.1tUS$34.8b23.2x25.7x0.4x
Mon, 24 Nov 2025US$885.0bUS$2.1tUS$34.8b22.4x25.4x0.4x
Wed, 22 Oct 2025US$947.1bUS$2.1tUS$49.6b21.5x19.1x0.5x
Fri, 19 Sep 2025US$881.8bUS$2.1tUS$49.3b21.1x17.9x0.4x
Sun, 17 Aug 2025US$835.8bUS$2.1tUS$49.3b21.1x17x0.4x
Tue, 15 Jul 2025US$838.2bUS$2.1tUS$52.7b21.1x15.9x0.4x
Thu, 12 Jun 2025US$869.2bUS$2.1tUS$52.5b20.7x16.5x0.4x
Sat, 10 May 2025US$959.4bUS$2.1tUS$52.6b20.4x18.2x0.5x
Mon, 07 Apr 2025US$1.0tUS$1.7tUS$41.6b24.1x24.5x0.6x
Wed, 05 Mar 2025US$970.6bUS$1.7tUS$41.4b24.6x23.4x0.6x
Fri, 31 Jan 2025US$1.1tUS$2.0tUS$42.5b23.4x25.8x0.6x
Sun, 29 Dec 2024US$1.0tUS$2.0tUS$41.4b21.9x24.4x0.5x
Tue, 26 Nov 2024US$1.1tUS$2.0tUS$41.4b25.5x27.7x0.6x
Thu, 24 Oct 2024US$1.1tUS$1.9tUS$43.3b24.5x26.2x0.6x
Sat, 21 Sep 2024US$1.2tUS$1.9tUS$43.3b25.8x27.8x0.6x
Mon, 19 Aug 2024US$1.2tUS$1.9tUS$43.2b26.3x27.7x0.6x
Wed, 17 Jul 2024US$1.1tUS$1.9tUS$43.4b26.7x25.6x0.6x
Fri, 14 Jun 2024US$1.1tUS$1.9tUS$43.4b26.2x25.3x0.6x
Sun, 12 May 2024US$1.1tUS$1.9tUS$43.5b26.9x25.5x0.6x
Tue, 09 Apr 2024US$1.1tUS$1.8tUS$49.6b25.7x21.7x0.6x
Thu, 07 Mar 2024US$1.1tUS$1.8tUS$49.8b25x21.9x0.6x
Sat, 03 Feb 2024US$1.1tUS$1.8tUS$50.0b23.4x22.8x0.6x
Mon, 01 Jan 2024US$1.2tUS$1.8tUS$51.2b23.3x22.6x0.6x
Wed, 29 Nov 2023US$1.2tUS$1.8tUS$51.1b22.8x22.5x0.6x
Fri, 27 Oct 2023US$1.1tUS$1.8tUS$46.8b22x24.1x0.6x
Sun, 24 Sep 2023US$1.1tUS$1.8tUS$46.9b22.1x23.7x0.6x
Tue, 22 Aug 2023US$1.1tUS$1.8tUS$46.7b21.8x23.7x0.6x
Thu, 20 Jul 2023US$1.1tUS$1.7tUS$46.7b24.1x24.4x0.7x
Sat, 17 Jun 2023US$1.1tUS$1.7tUS$45.7b22.7x23.3x0.6x
Mon, 15 May 2023US$1.1tUS$1.7tUS$45.7b22.1x24x0.6x
Wed, 12 Apr 2023US$1.1tUS$1.4tUS$43.6b23.8x25.7x0.8x
Price to Earnings Ratio

25.7x


Total Market Cap: US$1.1tTotal Earnings: US$43.6bTotal Revenue: US$1.4tTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Healthcare Services Industry Price to Earnings3Y Average 23.7x202420252026
Current Industry PE
  • Investors are optimistic on the American Healthcare industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 28.7x which is higher than its 3-year average PE of 23.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.55x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have declined 14% per year over the last three years.
  • Meanwhile revenues for these companies have grown 15% 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, which has decreased profits.

Industry Trends

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

US Market3.46%
Healthcare3.50%
Healthcare Services4.45%
Managed Healthcare6.54%
Healthcare Distributors3.58%
Healthcare Services3.31%
Healthcare Facilities-0.79%
Industry PE
  • Investors are most optimistic about the Healthcare Distributors industry, which is trading close to its 3-year average PE ratio of 40.7x.
    • Analysts expect its future annual earnings growth (16.7%) to be largely in line with prior year's earnings growth.
  • Investors are most pessimistic about the Healthcare Facilities industry, which is trading close to its 3-year average of 20.2x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Services industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the Healthcare Facilities 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
UNH UnitedHealth GroupUS$277.267.0%
+US$16.6b		-47.2%PE20.9x
CVS CVS HealthUS$73.494.9%
+US$4.3b		15.4%PE52.9x
ELV Elevance HealthUS$300.745.0%
+US$3.2b		-29.9%PE11.7x
MCK McKessonUS$884.282.8%
+US$3.0b		29.4%PE25x
COR CencoraUS$324.804.0%
+US$2.4b		16.7%PE38.9x

Latest News

ENSG
US$196.62
Ensign Group
7D
-2.0%
1Y
52.0%
CI
US$270.02
Cigna Group
7D
3.1%
1Y
-16.2%

CI: Leadership Transition And Onsite Care Expansion Will Drive Future Upside

Analysts have slightly refined their view on Cigna Group, trimming the price target by a fraction to $338.79 as updated assumptions for revenue growth, profit margins, and future P/E bring the model into closer alignment with their latest expectations. What's in the News Cigna Group plans a leadership transition, with David M.
ADUS
US$91.59
Addus HomeCare
7D
-3.8%
1Y
-8.7%

ADUS: Secular Tailwinds And Acquisitions Will Support Future Upside Despite Cautious Sentiment

Analysts have nudged their price targets for Addus HomeCare lower, with recent cuts of $5 to $10 from firms such as Barclays and Stephens contributing to a reduced implied fair value of about $110. This comes even as updated models reflect slightly higher revenue growth and profit margin assumptions, paired with a more conservative future P/E multiple.
COR
US$324.80
Cencora
7D
4.0%
1Y
16.7%
PGNY
US$16.60
Progyny
7D
-3.9%
1Y
-26.5%
CNC
US$35.11
Centene
7D
9.7%
1Y
-43.3%

CNC: Government Program Margins In 2026 Will Support Future Earnings Power

Centene's updated analyst price targets show a modest downward reset of about $4 across several firms to a range of roughly $32 to $49, with analysts citing recalibrated valuation multiples, ongoing Medicaid and exchange visibility questions, and mixed readthroughs from recent Q4 results and policy headlines. Analyst Commentary Recent research shows a split view on Centene, with some firms trimming targets and others lifting them, but the common thread is a focus on how Medicaid, exchange membership, and Q4 execution shape the risk and reward profile from here.
ELV
US$300.74
Elevance Health
7D
5.0%
1Y
-29.9%

ELV: 2026 CMS Sanction Clarity Will Drive Medicare Advantage Repricing

Narrative Update The analyst price target for Elevance Health has been reduced by $9.77 to reflect analysts' recalibration of revenue growth and valuation assumptions after recent CMS related headlines. This revision still incorporates company guidance indicating that any sanctions related impact is already captured in 2026 expectations.
THC
US$188.17
Tenet Healthcare
7D
-1.9%
1Y
56.4%
UHS
US$176.70
Universal Health Services
7D
-4.0%
1Y
1.2%

UHS: Future Volumes And Policy Risk Will Drive Upside From Buybacks

Analyst price targets for Universal Health Services have edged lower by $1.65. This reflects mixed views on weaker recent acute results, guidance that aligns with consensus but assumes stronger future volumes, and differing opinions on the impact of policy changes and payor mix risk.
UNH
US$277.26
UnitedHealth Group
7D
7.0%
1Y
-47.2%

UNH: Medicare Advantage Policy Reset Will Support Post 2026 Earnings Recovery

Analysts have made a small adjustment to UnitedHealth Group's outlook, with the average price target moving modestly around the $440 level as they factor in slightly higher long term revenue growth, a marginally stronger profit margin profile, and a slightly lower future P/E assumption following recent sector wide Medicare Advantage commentary and company specific research updates. Analyst Commentary Bullish analysts on UnitedHealth Group are focusing on how recent research updates frame the risk reward around Medicare Advantage and the broader managed care backdrop.
MCK
US$884.28
McKesson
7D
2.8%
1Y
29.4%

MCK: Biosimilar And Co Manufacturing Upside Will Shape Future Safe Haven Returns

Analysts have nudged the McKesson fair value estimate slightly higher to about $998, citing a wave of Street price target increases into the $1,040 to $1,050 range and growing focus on potential upside from biosimilars and co-manufacturing. Analyst Commentary Recent Street research around McKesson clusters around two themes: valuation and execution on new growth levers such as biosimilars and co-manufacturing.
CAH
US$214.05
Cardinal Health
7D
3.6%
1Y
65.1%
RDNT
US$54.79
RadNet
7D
-2.4%
1Y
12.5%

RDNT: Outpatient Imaging Shift And AI Adoption Will Drive Future Upside

Analysts kept their $92 price target for RadNet unchanged, citing what they see as attractive long term growth drivers in outpatient diagnostic imaging, reasonable 2025 to 2028 company targets, supportive Medicare reimbursement trends, potential capital deployment benefits, and expected AI contributions. Analyst Commentary Bullish Takeaways Bullish analysts view outpatient diagnostic imaging as an attractive subsector, with hospital to outpatient shifts and growing demand for advanced imaging seen as key growth drivers that support RadNet's long term story and current valuation framework.
CVS
US$73.49
CVS Health
7D
4.9%
1Y
15.4%

CVS: Medicare Advantage Turnaround And FTC Settlement Will Support Earnings Recovery

Analysts have slightly raised their fair value estimate for CVS Health to $96.50, citing improving clarity around potential FTC settlements and a perceived Medicare Advantage turnaround. These developments could support a higher future P/E multiple, even with more conservative assumptions for revenue growth and profit margins.
DVA
US$145.58
DaVita
7D
-5.7%
1Y
-2.6%

DVA: Ongoing Buybacks And Revised P/E Assumptions Will Shape Future Returns

DaVita’s analyst price target has been revised to $151.71, with analysts pointing to updated assumptions around the discount rate and forward P/E as key drivers of the refreshed outlook. Analyst Commentary Recent Street research on DaVita points to a cluster of higher price targets, with several firms revisiting their models around discount rates and forward P/E assumptions.
AHG
US$2.22
Akso Health Group
7D
-5.9%
1Y
129.1%