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U.S. Medical Equipment Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies199
  • 7D-0.5%
  • 3M-16.1%
  • 1Y-5.8%
  • YTDn/a

Over the last 7 days, the Medical Equipment industry has remained flat, although notably Boston Scientific declined by 9.2%. Unfortunately though, the industry is down 5.8% over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026US$1.1tUS$266.2bUS$23.9b28.8x45.1x4x
Tue, 03 Mar 2026US$1.2tUS$267.2bUS$24.4b31.1x50.1x4.6x
Thu, 29 Jan 2026US$1.2tUS$263.0bUS$24.1b35.2x51.4x4.7x
Sat, 27 Dec 2025US$1.3tUS$262.2bUS$31.4b34.5x40.9x4.9x
Mon, 24 Nov 2025US$1.3tUS$262.1bUS$31.7b31.6x40.6x4.9x
Wed, 22 Oct 2025US$1.3tUS$256.8bUS$32.8b31.6x38.2x4.9x
Fri, 19 Sep 2025US$1.2tUS$256.5bUS$32.8b31x37.9x4.8x
Sun, 17 Aug 2025US$1.3tUS$255.8bUS$32.8b29.8x38.7x5x
Tue, 15 Jul 2025US$1.3tUS$250.7bUS$30.5b33.9x41.3x5x
Thu, 12 Jun 2025US$1.3tUS$250.7bUS$30.5b33x41.5x5.1x
Sat, 10 May 2025US$1.3tUS$250.2bUS$30.2b32x41.5x5x
Mon, 07 Apr 2025US$1.1tUS$246.9bUS$28.4b28.7x40.3x4.6x
Wed, 05 Mar 2025US$1.3tUS$247.4bUS$28.2b33x47x5.4x
Fri, 31 Jan 2025US$1.3tUS$250.4bUS$29.5b37.9x44.9x5.3x
Sun, 29 Dec 2024US$1.2tUS$248.5bUS$22.4b37.2x54.6x4.9x
Tue, 26 Nov 2024US$1.2tUS$248.1bUS$22.1b38x56.4x5x
Thu, 24 Oct 2024US$1.2tUS$245.9bUS$20.8b37.3x59.3x5x
Sat, 21 Sep 2024US$1.2tUS$244.4bUS$20.6b38x59.3x5x
Mon, 19 Aug 2024US$1.2tUS$244.5bUS$20.2b34.6x58.3x4.8x
Wed, 17 Jul 2024US$1.1tUS$241.6bUS$20.6b36.9x55.6x4.7x
Fri, 14 Jun 2024US$1.2tUS$241.6bUS$20.6b34.4x56x4.8x
Sun, 12 May 2024US$1.2tUS$242.5bUS$21.0b34.1x55.4x4.8x
Tue, 09 Apr 2024US$1.2tUS$239.9bUS$21.8b38.6x54.5x5x
Thu, 07 Mar 2024US$1.2tUS$240.1bUS$22.0b37.9x53.9x4.9x
Sat, 03 Feb 2024US$1.2tUS$243.0bUS$21.7b35.9x54.8x4.9x
Mon, 01 Jan 2024US$1.1tUS$241.2bUS$19.9b37.4x56.9x4.7x
Wed, 29 Nov 2023US$1.1tUS$241.2bUS$19.9b35x53.1x4.4x
Fri, 27 Oct 2023US$955.7bUS$238.5bUS$16.2b31.7x59.2x4x
Sun, 24 Sep 2023US$1.0tUS$238.0bUS$15.7b35x66x4.3x
Tue, 22 Aug 2023US$1.1tUS$237.7bUS$15.8b37.5x68.1x4.5x
Thu, 20 Jul 2023US$1.2tUS$235.6bUS$16.7b37.3x70.7x5x
Sat, 17 Jun 2023US$1.2tUS$235.6bUS$16.7b37.4x70.3x5x
Mon, 15 May 2023US$1.2tUS$235.5bUS$17.1b37.6x68.1x5x
Wed, 12 Apr 2023US$1.1tUS$234.8bUS$18.9b34.8x59x4.7x
Price to Earnings Ratio

59x


Total Market Cap: US$1.1tTotal Earnings: US$18.9bTotal Revenue: US$234.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 52.5x202420252026
Current Industry PE
  • Investors are pessimistic on the American Healthcare 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 45.1x which is lower than its 3-year average PE of 52.5x.
  • The 3-year average PS ratio of 4.8x is higher than the industry's current PS ratio of 4.0x.
Past Earnings Growth
  • The earnings for companies in the Healthcare Equipment industry have grown 8.1% per year over the last three years.
  • Revenues for these companies have grown 4.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does U.S. Medical Equipment compare with similar industries?

US Market3.46%
Healthcare3.50%
Medical Equipment0.0019%
Medical Equipment-0.48%
Medical Supplies4.14%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SYK StrykerUS$331.541.3%
+US$1.6b		-4.1%PE39.1x
EW Edwards LifesciencesUS$81.052.2%
+US$985.9m		16.9%PE44.1x
IDXX IDEXX LaboratoriesUS$569.552.0%
+US$894.2m		44.7%PE42.8x
GMED Globus MedicalUS$87.924.9%
+US$559.9m		27.7%PE22.1x
GKOS GlaukosUS$112.779.3%
+US$556.7m		34.8%PS12.9x

Latest News

ABT
US$102.87
Abbott Laboratories
7D
-1.1%
1Y
-17.3%
TNDM
US$18.61
Tandem Diabetes Care
7D
-11.4%
1Y
10.2%
RMD
US$224.09
ResMed
7D
1.6%
1Y
9.2%
GKOS
US$112.77
Glaukos
7D
9.3%
1Y
34.8%

GKOS: Repeat Dosing And 2026 Guidance Will Support Organic Demand Normalization

Narrative Update on Glaukos The updated analyst price target framework for Glaukos moves fair value from $134.79 to $138.75. This reflects analysts' focus on the continued iDose ramp, reiterated 2026 guidance, and the long-term opportunity they see in Epioxa and related glaucoma treatment franchises.
IDXX
US$569.55
IDEXX Laboratories
7D
2.0%
1Y
44.7%

IDXX: Cancer Diagnostics Execution And Margin Resilience Will Shape Fairly Valued Outlook

For IDEXX Laboratories, the updated analyst price target has shifted from about $579 to roughly $556 as analysts adjust their models for slightly different revenue growth and P/E assumptions, while also acknowledging a modestly higher profit margin outlook. Analyst Commentary Recent research updates show a series of lower price targets for IDEXX Laboratories, with bearish analysts trimming their expectations by amounts ranging from about $20 to roughly $100.
PODD
US$204.31
Insulet
7D
-1.9%
1Y
-16.7%
SYK
US$331.54
Stryker
7D
1.3%
1Y
-4.1%
ISRG
US$452.07
Intuitive Surgical
7D
-0.1%
1Y
0.1%
BAX
US$16.68
Baxter International
7D
4.4%
1Y
-42.1%

BAX: 2026 Execution And Margin Visibility Will Determine Potential Upside Repricing

Analysts have edged Baxter International's fair value estimate higher to about $33.38 from $32.59, even as several firms recently reduced their price targets to a range of $17 to $30 after underwhelming 2026 guidance and margin pressures. Analyst Commentary Recent Street research has centered on Baxter's 2026 outlook, with several firms trimming price targets after guidance and margin commentary fell short of earlier expectations.
BSX
US$62.82
Boston Scientific
7D
-9.2%
1Y
-30.0%
EW
US$81.05
Edwards Lifesciences
7D
2.2%
1Y
16.9%
GEHC
US$70.35
GE HealthCare Technologies
7D
1.6%
1Y
16.3%

GEHC: AI Imaging And Procedure Recovery Will Support 2026 Repricing

Analysts have lifted the blended price target for GE HealthCare Technologies slightly, with the updated fair value estimate moving from about $93.05 to $93.47 as recent research cites healthy MedTech sector fundamentals, recovering end markets into 2026, and the company’s post spin execution as key supports, even as some firms trim targets within a volatile group. Analyst Commentary Street research around GE HealthCare Technologies presents a mix of optimism and caution, with several firms adjusting price targets following sector wide reviews and recent company updates.
MDT
US$86.63
Medtronic
7D
-0.6%
1Y
4.5%
GMED
US$87.92
Globus Medical
7D
4.9%
1Y
27.7%

GMED: Future Returns Will Reflect Q4 Execution And Margin Progress Potential

Analysts have nudged the fair value estimate for Globus Medical slightly higher to $110.08 from $109.54, citing a series of raised price targets in the $104 to $123 range. They attribute this to what they describe as strong Q4 results, credible EBITDA margin progress, and upside potential in both core spine and Nevro contributions.
PEN
US$330.36
Penumbra
7D
-1.4%
1Y
26.0%

PEN: Merger Agreement And Steady Metrics Will Shape Measured Forward Outlook

Analysts have kept their $360.13 price target for Penumbra broadly unchanged, citing slightly adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E. Taken together, these changes leave their overall valuation view steady for now.
PRCT
US$25.12
PROCEPT BioRobotics
7D
-4.7%
1Y
-51.0%