Sector analysis · US
Health Care: which companies drove growth
The 20 largest Health Care companies by market cap at the end of Q4 2024 (31 Dec 2024), compared with Q3 2024.
The top 20 at Q4 2024
Q4 2024 vs Q3 2024: combined net profit $38.9B (+9%), median EPS +7% (11 of 20 up), market-cap-weighted price −11%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Eli Lilly and Company | 17.1% | 1.07 → 4.88 | +356% | +9.7 pp | −13% |
| 2 | UnitedHealth Group Incorporated | 11.5% | 6.51 → 5.98 | −8% | −1.4 pp | −14% |
| 3 | Johnson & Johnson | 8.6% | 1.11 → 1.41 | +27% | +2.1 pp | −11% |
| 4 | AbbVie Inc. | 7.8% | 0.88 → −0.02 | to loss | −4.4 pp | −10% |
| 5 | Merck & Co., Inc. | 6.2% | 1.24 → 1.48 | +19% | +1.6 pp | −13% |
| 6 | Abbott Laboratories | 4.9% | 0.94 → 5.27 | +461% | +21.3 pp | 0% |
| 7 | Thermo Fisher Scientific Inc. | 4.9% | 4.24 → 4.78 | +13% | +0.6 pp | −17% |
| 8 | Intuitive Surgical, Inc. | 4.6% | 1.56 → 1.88 | +21% | +0.3 pp | +6% |
| 9 | Danaher Corporation | 4.1% | 1.12 → 1.49 | +33% | +0.8 pp | −20% |
| 10 | Pfizer Inc. | 3.7% | 0.78 → 0.07 | −91% | −11.4 pp | −8% |
| 11 | Amgen Inc. | 3.5% | 5.22 → 1.16 | −78% | −6.2 pp | −19% |
| 12 | Stryker Corporation | 3.4% | 2.16 → 1.41 | −35% | −0.8 pp | 0% |
| 13 | Boston Scientific Corporation | 3.3% | 0.32 → 0.38 | +20% | +0.3 pp | +7% |
| 14 | Gilead Sciences, Inc. | 2.8% | 1.00 → 1.42 | +42% | +1.5 pp | +10% |
| 15 | Bristol-Myers Squibb Company | 2.8% | 0.60 → 0.04 | −94% | −3.2 pp | +9% |
| 16 | Vertex Pharmaceuticals Incorporated | 2.6% | 4.01 → 3.50 | −13% | −0.4 pp | −13% |
| 17 | Medtronic plc | 2.5% | 0.99 → 1.01 | +2% | +0.1 pp | −11% |
| 18 | Elevance Health Inc. | 2.1% | 4.36 → 1.81 | −58% | −1.7 pp | −29% |
| 19 | Cigna Corporation | 1.9% | 2.63 → 5.13 | +95% | +1.9 pp | −19% |
| 20 | Regeneron Pharmaceuticals, Inc. | 1.9% | 11.54 → 8.06 | −30% | −1.2 pp | −32% |
| Sector earnings growth | 100% | +9.3 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q3 2024, as market caps moved.
Joined the top 20 since Q3 2024
Left the top 20 since Q3 2024
- HCA Healthcare, Inc.
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% |
| ABBV | −12% | −54% | +67% | 0% | +14% | to loss | turned profitable | −26% | −81% | +927% | −62% | +423% |
| MRK | turned profitable | to loss | turned profitable | +14% | −42% | +19% | +36% | −12% | +32% | −49% | to loss | loss, smaller |
| ABT | +5% | +11% | −23% | +6% | +27% | +461% | −86% | +33% | −7% | +9% | −39% | −15% |
| TMO | +26% | −5% | −18% | +17% | +5% | +13% | −17% | +8% | 0% | +22% | −15% | +6% |
| ISRG | −2% | +46% | −11% | −3% | +7% | +21% | +2% | −6% | +8% | +13% | +3% | +3% |
| DHR | +1% | −4% | 0% | −16% | −8% | +33% | −11% | −42% | +65% | +32% | −14% | −15% |
| PFE | to loss | loss, bigger | turned profitable | −99% | +18,567% | −91% | +623% | −2% | +22% | to loss | turned profitable | to loss |
| AMGN | +25% | −56% | to loss | turned profitable | +278% | −78% | +176% | −17% | +124% | −59% | +36% | +31% |
| SYK | −6% | +66% | −31% | +4% | +1% | −35% | +20% | +36% | −3% | −1% | −12% | +71% |
| BSX | outside | outside | −2% | −35% | +44% | +20% | +19% | +17% | −6% | −10% | +100% | outside |
| GILD | +108% | −34% | outside | turned profitable | −22% | +42% | −27% | +50% | +56% | −28% | −7% | to loss |
| BMY | −6% | −6% | to loss | outside | −28% | −94% | +3,299% | −47% | +69% | −51% | +147% | +24% |
| VRTX | +13% | −7% | +13% | to loss | turned profitable | −13% | −29% | +60% | +5% | +11% | −14% | +7% |
| MDT | +15% | +46% | −51% | +63% | +24% | +2% | −19% | −1% | +32% | −17% | +8% | +19% |
| ELV | −30% | −33% | +164% | +3% | −56% | −58% | +431% | outside | outside | outside | outside | −16% |
| CI | −4% | outside | to loss | turned profitable | outside | +95% | −5% | +18% | outside | outside | outside | outside |
| REGN | +5% | +15% | −38% | +98% | −7% | −30% | outside | outside | outside | outside | outside | outside |