Sector analysis · US
Health Care: which companies drove growth
The 20 largest Health Care companies by market cap at the end of Q2 2024 (30 Jun 2024), compared with Q1 2024.
The top 20 at Q2 2024
Q2 2024 vs Q1 2024: combined net profit $30.7B (+31%), median EPS +4% (13 of 20 up), market-cap-weighted price +1%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Eli Lilly and Company | 19.1% | 2.48 → 3.28 | +32% | +2.2 pp | +16% |
| 2 | UnitedHealth Group Incorporated | 11.0% | −1.53 → 4.54 | turned profitable | +17.3 pp | +2% |
| 3 | Johnson & Johnson | 8.2% | 1.34 → 1.93 | +44% | +4.4 pp | −7% |
| 4 | Merck & Co., Inc. | 7.3% | 1.87 → 2.14 | +14% | +2.1 pp | −6% |
| 5 | AbbVie Inc. | 7.1% | 0.77 → 0.77 | 0% | 0.0 pp | −6% |
| 6 | Thermo Fisher Scientific Inc. | 4.9% | 3.46 → 4.04 | +17% | +0.7 pp | −5% |
| 7 | Danaher Corporation | 4.2% | 1.45 → 1.22 | −16% | −0.6 pp | −2% |
| 8 | Abbott Laboratories | 4.2% | 0.70 → 0.74 | +6% | +0.2 pp | −9% |
| 9 | Amgen Inc. | 3.9% | −0.21 → 1.38 | turned profitable | +2.6 pp | +9% |
| 10 | Pfizer Inc. | 3.7% | 0.55 → 0.00 | −99% | −9.5 pp | +1% |
| 11 | Intuitive Surgical, Inc. | 3.7% | 1.51 → 1.46 | −3% | −0.1 pp | +12% |
| 12 | Stryker Corporation | 3.0% | 2.05 → 2.14 | +4% | +0.1 pp | −5% |
| 13 | Elevance Health Inc. | 2.9% | 9.59 → 9.85 | +3% | +0.2 pp | +5% |
| 14 | Vertex Pharmaceuticals Incorporated | 2.8% | 4.21 → −13.92 | to loss | −14.4 pp | +13% |
| 15 | Regeneron Pharmaceuticals, Inc. | 2.7% | 6.27 → 12.41 | +98% | +2.2 pp | +9% |
| 16 | Boston Scientific Corporation | 2.6% | 0.33 → 0.22 | −35% | −0.5 pp | +12% |
| 17 | Medtronic plc | 2.4% | 0.49 → 0.80 | +63% | +1.2 pp | −10% |
| 18 | Cigna Corporation | 2.2% | −0.97 → 5.45 | turned profitable | +5.6 pp | −10% |
| 19 | Gilead Sciences, Inc. | 2.0% | −3.34 → 1.29 | turned profitable | +17.8 pp | −7% |
| 20 | HCA Healthcare, Inc. | 2.0% | 5.94 → 5.53 | −7% | −0.4 pp | −2% |
| Sector earnings growth | 100% | +31.2 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q1 2024, as market caps moved.
Joined the top 20 since Q1 2024
Left the top 20 since Q1 2024
- Bristol-Myers Squibb Company
- CVS Health Corp.
EPS growth by company, Q3 2023 to Q2 2026
Each company's EPS growth quarter on quarter, 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 | turned profitable | +2% | +32% | −67% | +356% | −37% | +106% | −1% | +19% | +12% | −4% |
| UNH | +7% | −7% | to loss | turned profitable | +43% | −8% | +15% | −45% | −31% | −100% | +62,627% | −12% |
| JNJ | +421% | −84% | −20% | +44% | −42% | +27% | +222% | −50% | −7% | −1% | +2% | +6% |
| MRK | turned profitable | to loss | turned profitable | +14% | −42% | +19% | +36% | −12% | +32% | −49% | to loss | loss, smaller |
| ABBV | −12% | −54% | +67% | 0% | +14% | to loss | turned profitable | −26% | −81% | +927% | −62% | +423% |
| TMO | +26% | −5% | −18% | +17% | +5% | +13% | −17% | +8% | 0% | +22% | −15% | +6% |
| DHR | +1% | −4% | 0% | −16% | −8% | +33% | −11% | −42% | +65% | +32% | −14% | −15% |
| ABT | +5% | +11% | −23% | +6% | +27% | +461% | −86% | +33% | −7% | +9% | −39% | −15% |
| AMGN | +25% | −56% | to loss | turned profitable | +278% | −78% | +176% | −17% | +124% | −59% | +36% | +31% |
| PFE | to loss | loss, bigger | turned profitable | −99% | +18,567% | −91% | +623% | −2% | +22% | to loss | turned profitable | to loss |
| ISRG | −2% | +46% | −11% | −3% | +7% | +21% | +2% | −6% | +8% | +13% | +3% | +3% |
| SYK | −6% | +66% | −31% | +4% | +1% | −35% | +20% | +36% | −3% | −1% | −12% | +71% |
| ELV | −30% | −33% | +164% | +3% | −56% | −58% | +431% | outside | outside | outside | outside | −16% |
| VRTX | +13% | −7% | +13% | to loss | turned profitable | −13% | −29% | +60% | +5% | +11% | −14% | +7% |
| REGN | +5% | +15% | −38% | +98% | −7% | −30% | outside | outside | outside | outside | outside | outside |
| BSX | outside | outside | −2% | −35% | +44% | +20% | +19% | +17% | −6% | −10% | +100% | outside |
| MDT | +15% | +46% | −51% | +63% | +24% | +2% | −19% | −1% | +32% | −17% | +8% | +19% |
| CI | −4% | outside | to loss | turned profitable | outside | +95% | −5% | +18% | outside | outside | outside | outside |
| GILD | +108% | −34% | outside | turned profitable | −22% | +42% | −27% | +50% | +56% | −28% | −7% | to loss |
| HCA | outside | outside | outside | −7% | −12% | outside | outside | +6% | +2% | +17% | −12% | +7% |