Sector analysis · US
Health Care: which companies drove growth
The 20 largest Health Care companies by market cap at the end of Q2 2026 (30 Jun 2026), compared with Q2 2025.
The top 20 at Q2 2026
Q2 2026 vs Q2 2025: combined net profit $30.3B (−25%), median EPS +19% (13 of 20 up), market-cap-weighted price +21%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Eli Lilly and Company | 22.3% | 6.29 → 7.94 | +26% | +3.6 pp | +55% |
| 2 | Johnson & Johnson | 12.9% | 2.29 → 2.27 | −1% | 0.0 pp | +66% |
| 3 | AbbVie Inc. | 9.3% | 0.53 → 2.04 | +285% | +6.6 pp | +36% |
| 4 | UnitedHealth Group Incorporated | 7.9% | 3.74 → 6.05 | +62% | +5.2 pp | +34% |
| 5 | Merck & Co., Inc. | 6.6% | 1.76 → −0.54 | to loss | −14.3 pp | +64% |
| 6 | Amgen Inc. | 4.1% | 2.65 → 4.37 | +65% | +2.3 pp | +29% |
| 7 | Thermo Fisher Scientific Inc. | 3.9% | 4.28 → 4.68 | +9% | +0.3 pp | +24% |
| 8 | Abbott Laboratories | 3.3% | 1.01 → 0.53 | −48% one source | −2.1 pp | −33% |
| 9 | Gilead Sciences, Inc. | 3.3% | 1.56 → −8.45 | to loss | −30.9 pp | +15% |
| 10 | Intuitive Surgical, Inc. | 2.9% | 1.81 → 2.35 | +30% | +0.4 pp | −26% |
| 11 | Pfizer Inc. | 2.8% | 0.51 → −0.04 | to loss | −7.8 pp | 0% |
| 12 | Danaher Corporation | 2.8% | 0.77 → 1.23 | +60% | +0.8 pp | −2% |
| 13 | CVS Health Corp. | 2.7% | 0.80 → 2.31 | +189% | +4.9 pp | +49% |
| 14 | Vertex Pharmaceuticals Incorporated | 2.6% | 3.99 → 4.31 | +8% | +0.2 pp | +12% |
| 15 | Stryker Corporation | 2.5% | 2.29 → 3.30 | +44% | +1.0 pp | −20% |
| 16 | Bristol-Myers Squibb Company | 2.4% | 0.64 → 1.62 | +153% | +5.0 pp | +24% |
| 17 | Medtronic plc | 2.1% | 0.81 → 1.14 | +41% | +1.1 pp | −10% |
| 18 | McKesson Corporation | 1.9% | 6.25 → 5.15 | −18% | −0.4 pp | +7% |
| 19 | HCA Healthcare, Inc. | 1.8% | 6.83 → 7.62 | +12% one source | +0.1 pp | +3% |
| 20 | Elevance Health Inc. | 1.8% | 7.72 → 6.71 | −13% | −0.7 pp | +1% |
| Sector earnings growth | 100% | −24.9 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q1 2026, as market caps moved.
Joined the top 20 since Q1 2026
Left the top 20 since Q1 2026
- Boston Scientific Corporation
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth year on year, every quarter it was in the top 20.
| Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | Q1 2026 | Q2 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | to loss | +19% | +75% | +76% | turned profitable | +102% | +23% | +92% | +480% | +51% | +170% | +26% |
| JNJ | +508% | +26% | turned profitable | −2% | −89% | −16% | +239% | +19% | +91% | +49% | −53% | −1% |
| ABBV | −55% | −67% | +492% | −32% | −12% | to loss | −6% | −31% | −89% | turned profitable | −46% | +285% |
| UNH | +12% | +16% | to loss | −22% | +4% | +3% | turned profitable | −18% | −60% | −100% | +1% | +62% |
| MRK | +45% | to loss | +68% | turned profitable | −33% | turned profitable | +7% | −18% | +87% | −20% | to loss | to loss |
| AMGN | −19% | −53% | to loss | −46% | +62% | −18% | turned profitable | +92% | +14% | +111% | +4% | +65% |
| TMO | +17% | +5% | +4% | +15% | −4% | +14% | +15% | +6% | +1% | +9% | +11% | +9% |
| ABT | +1% | +54% | −7% | −5% | +15% | +479% | +8% | +36% | 0% | −81% | −18% | −48% |
| GILD | +22% | −12% | outside | +55% | −42% | +25% | turned profitable | +21% | +143% | +23% | +55% | to loss |
| ISRG | +29% | +86% | +51% | +24% | +34% | +11% | +27% | +24% | +25% | +18% | +19% | +30% |
| PFE | to loss | to loss | −43% | −99% | turned profitable | turned profitable | −5% | +12,043% | −21% | to loss | −10% | to loss |
| DHR | −28% | −51% | −25% | −18% | −26% | +3% | −9% | −37% | +13% | +13% | +10% | +60% |
| CVS | turned profitable | −10% | −47% | outside | outside | outside | +60% | outside | to loss | +77% | +63% | +189% |
| VRTX | +11% | +18% | +57% | to loss | +1% | −6% | −41% | turned profitable | +5% | +33% | +61% | +8% |
| SYK | −16% | +103% | +33% | +11% | +20% | −53% | −18% | +7% | +3% | +56% | +14% | +44% |
| BMY | +24% | −8% | to loss | outside | −35% | −96% | turned profitable | −23% | +80% | +1,401% | +9% | +153% |
| MDT | +113% | +8% | −44% | +36% | +46% | +2% | +67% | +1% | +8% | −12% | +17% | +41% |
| MCK | outside | outside | outside | outside | outside | outside | outside | −11% | +380% | +38% | +37% | −18% |
| HCA | outside | outside | outside | +29% | +26% | outside | outside | +24% | +42% | +45% | +11% | +12% |
| ELV | −18% | +1% | +16% | +26% | −20% | −50% | 0% | outside | outside | outside | outside | −13% |