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U.S. Medical Equipment Industry Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies241
  • 7D0.002%
  • 3M-14.7%
  • 1Y-5.7%
  • YTD-13.7%

Last week, the Medical Equipment industry hasn't moved much but Medline is up 7.1% in that time. Unfortunately though, the industry is down 5.7% over the past 12 months. Looking forward, earnings are forecast to grow by 16% annually.

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$1.2tUS$333.9bUS$25.6b26.6x47.2x3.6x
Tue, 03 Mar 2026US$1.4tUS$331.8bUS$26.5b30.9x51.5x4.1x
Thu, 29 Jan 2026US$1.4tUS$326.6bUS$25.5b31.3x54x4.2x
Sat, 27 Dec 2025US$1.4tUS$325.7bUS$32.4b29.7x43.8x4.4x
Mon, 24 Nov 2025US$1.4tUS$298.2bUS$31.5b27.7x43.2x4.6x
Wed, 22 Oct 2025US$1.3tUS$292.8bUS$31.5b30.4x42x4.5x
Fri, 19 Sep 2025US$1.3tUS$292.5bUS$31.4b28.7x41.7x4.5x
Sun, 17 Aug 2025US$1.3tUS$291.8bUS$31.4b27.4x42.6x4.6x
Tue, 15 Jul 2025US$1.3tUS$286.7bUS$29.6b31.9x45.1x4.7x
Thu, 12 Jun 2025US$1.3tUS$286.7bUS$29.6b30.1x45.3x4.7x
Sat, 10 May 2025US$1.3tUS$286.2bUS$29.3b31.1x45.3x4.6x
Mon, 07 Apr 2025US$1.2tUS$282.8bUS$27.7b25.8x43.8x4.3x
Wed, 05 Mar 2025US$1.4tUS$283.1bUS$27.6b30x51.1x5x
Fri, 31 Jan 2025US$1.4tUS$285.9bUS$30.2b36.3x46.9x5x
Sun, 29 Dec 2024US$1.3tUS$284.0bUS$23.6b34.8x55.6x4.6x
Tue, 26 Nov 2024US$1.3tUS$283.5bUS$23.2b38.3x57.7x4.7x
Thu, 24 Oct 2024US$1.3tUS$280.9bUS$22.5b36.4x59.3x4.7x
Sat, 21 Sep 2024US$1.3tUS$279.4bUS$22.2b40.3x59.6x4.7x
Mon, 19 Aug 2024US$1.3tUS$279.6bUS$21.8b36.1x58.2x4.5x
Wed, 17 Jul 2024US$1.2tUS$276.4bUS$22.7b38.3x54.5x4.5x
Fri, 14 Jun 2024US$1.2tUS$276.4bUS$22.7b36.7x54.9x4.5x
Sun, 12 May 2024US$1.3tUS$277.0bUS$23.1b37.5x54.2x4.5x
Tue, 09 Apr 2024US$1.3tUS$274.1bUS$23.9b39.6x53.8x4.7x
Thu, 07 Mar 2024US$1.3tUS$266.0bUS$22.7b37.9x56x4.8x
Sat, 03 Feb 2024US$1.3tUS$269.2bUS$22.0b36x57.6x4.7x
Mon, 01 Jan 2024US$1.2tUS$267.4bUS$20.2b37.6x60.4x4.6x
Wed, 29 Nov 2023US$1.1tUS$267.4bUS$20.1b35.5x56.2x4.2x
Fri, 27 Oct 2023US$1.0tUS$264.4bUS$15.5b31.8x66.2x3.9x
Sun, 24 Sep 2023US$1.1tUS$263.8bUS$15.0b35x74.7x4.2x
Tue, 22 Aug 2023US$1.2tUS$263.4bUS$15.1b36.1x77.4x4.4x
Thu, 20 Jul 2023US$1.3tUS$260.7bUS$16.1b37.2x79.4x4.9x
Sat, 17 Jun 2023US$1.3tUS$261.2bUS$16.2b37x78.8x4.9x
Mon, 15 May 2023US$1.3tUS$261.0bUS$16.7b36.3x75.5x4.8x
Wed, 12 Apr 2023US$1.2tUS$260.2bUS$18.5b37.3x65.3x4.7x
Price to Earnings Ratio

65.3x


Total Market Cap: US$1.2tTotal Earnings: US$18.5bTotal Revenue: US$260.2bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Medical Equipment Industry Price to Earnings3Y Average 55.7x202420252026
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 47.2x which is lower than its 3-year average PE of 55.7x.
  • The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
  • The earnings for companies in the Medical Equipment industry have grown 11% per year over the last three years.
  • Revenues for these companies have grown 8.7% 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 Market3.46%
Healthcare3.50%
Medical Equipment0.0019%
Medical Supplies4.14%
Medical Equipment-0.48%
Industry PE
  • Investors are most optimistic about the Medical Supplies industry which is trading above its 3-year average PE ratio of 6.5x.
    • Analysts are expecting annual earnings growth of 21.2%, which is higher than its past year's earnings decline of 0.09% per year.
  • Investors are most pessimistic about the Medical Equipment industry, which is trading below its 3-year average of 52.5x.
Forecasted Growth
  • Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 21% 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 15% 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
MDLN MedlineUS$44.287.1%
+US$2.4b		n/aPE31x
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

Latest News

ABT
US$102.87
Abbott Laboratories
7D
-1.1%
1Y
-17.3%
MDLN
US$44.28
Medline
7D
7.1%
1Y
n/a

Medline: A Lack Of Compelling Risk-Reward Makes Me Cautious

Apr 03
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%
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.
MMED
US$14.01
Minimed Group
7D
-3.2%
1Y
n/a