Sector analysis · US
Health Care: which companies drove growth
The 20 largest Health Care companies by market cap at the end of Q1 2024 (31 Mar 2024), compared with Q1 2023.
The top 20 at Q1 2024
Q1 2024 vs Q1 2023: combined net profit $12.3B (−63%), median EPS −7% (10 of 20 up), market-cap-weighted price +18%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Eli Lilly and Company | 16.5% | 1.42 → 2.48 | +75% | +2.6 pp | +126% |
| 2 | UnitedHealth Group Incorporated | 10.7% | 5.95 → −1.53 | to loss | −20.6 pp | +6% |
| 3 | Johnson & Johnson | 9.0% | −0.03 → 1.34 | turned profitable | +9.7 pp | +1% |
| 4 | Merck & Co., Inc. | 7.9% | 1.11 → 1.87 | +68% | +5.7 pp | +24% |
| 5 | AbbVie Inc. | 7.6% | 0.13 → 0.77 | +492% | +3.3 pp | +15% |
| 6 | Thermo Fisher Scientific Inc. | 5.2% | 3.32 → 3.46 | +4% | +0.1 pp | +1% |
| 7 | Abbott Laboratories | 4.6% | 0.75 → 0.70 | −7% | −0.3 pp | +12% |
| 8 | Danaher Corporation | 4.4% | 1.94 → 1.45 | −25% | −1.1 pp | +11% |
| 9 | Pfizer Inc. | 3.7% | 0.97 → 0.55 | −43% | −7.1 pp | −31% |
| 10 | Amgen Inc. | 3.6% | 5.28 → −0.21 | to loss | −8.7 pp | +18% |
| 11 | Intuitive Surgical, Inc. | 3.3% | 1.00 → 1.51 | +51% | +0.6 pp | +55% |
| 12 | Stryker Corporation | 3.2% | 1.54 → 2.05 | +33% | +0.6 pp | +25% |
| 13 | Elevance Health Inc. | 2.8% | 8.30 → 9.59 | +16% | +0.8 pp | +14% |
| 14 | Medtronic plc | 2.7% | 0.88 → 0.49 | −44% | −1.5 pp | +8% |
| 15 | Bristol-Myers Squibb Company | 2.6% | 1.07 → −5.89 | to loss | −41.5 pp | −21% |
| 16 | Vertex Pharmaceuticals Incorporated | 2.5% | 2.69 → 4.21 | +57% | +1.2 pp | +33% |
| 17 | Cigna Corporation | 2.5% | 4.24 → −0.97 | to loss | −4.5 pp | +44% |
| 18 | Regeneron Pharmaceuticals, Inc. | 2.4% | 7.17 → 6.27 | −13% | −0.3 pp | +17% |
| 19 | Boston Scientific Corporation | 2.4% | 0.21 → 0.33 | +61% | +0.5 pp | +36% |
| 20 | CVS Health Corp. | 2.4% | 1.65 → 0.88 | −47% | −3.0 pp | +7% |
| Sector earnings growth | 100% | −63.4 pp |
Who joined and who left
2 joined and 2 left the top 20 since Q4 2023, as market caps moved.
Joined the top 20 since Q4 2023
Left the top 20 since Q4 2023
- Gilead Sciences, Inc.
- Zoetis Inc.
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% |
| UNH | +12% | +16% | to loss | −22% | +4% | +3% | turned profitable | −18% | −60% | −100% | +1% | +62% |
| JNJ | +508% | +26% | turned profitable | −2% | −89% | −16% | +239% | +19% | +91% | +49% | −53% | −1% |
| MRK | +45% | to loss | +68% | turned profitable | −33% | turned profitable | +7% | −18% | +87% | −20% | to loss | to loss |
| ABBV | −55% | −67% | +492% | −32% | −12% | to loss | −6% | −31% | −89% | turned profitable | −46% | +285% |
| 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% |
| DHR | −28% | −51% | −25% | −18% | −26% | +3% | −9% | −37% | +13% | +13% | +10% | +60% |
| PFE | to loss | to loss | −43% | −99% | turned profitable | turned profitable | −5% | +12,043% | −21% | to loss | −10% | to loss |
| AMGN | −19% | −53% | to loss | −46% | +62% | −18% | turned profitable | +92% | +14% | +111% | +4% | +65% |
| ISRG | +29% | +86% | +51% | +24% | +34% | +11% | +27% | +24% | +25% | +18% | +19% | +30% |
| SYK | −16% | +103% | +33% | +11% | +20% | −53% | −18% | +7% | +3% | +56% | +14% | +44% |
| ELV | −18% | +1% | +16% | +26% | −20% | −50% | 0% | outside | outside | outside | outside | −13% |
| MDT | +113% | +8% | −44% | +36% | +46% | +2% | +67% | +1% | +8% | −12% | +17% | +41% |
| BMY | +24% | −8% | to loss | outside | −35% | −96% | turned profitable | −23% | +80% | +1,401% | +9% | +153% |
| VRTX | +11% | +18% | +57% | to loss | +1% | −6% | −41% | turned profitable | +5% | +33% | +61% | +8% |
| CI | −47% | outside | to loss | +11% | outside | +47% | turned profitable | +5% | outside | outside | outside | outside |
| REGN | −24% | −3% | −13% | +46% | +30% | −21% | outside | outside | outside | outside | outside | outside |
| BSX | outside | outside | +61% | +22% | −8% | +11% | +35% | +143% | +59% | +18% | +99% | outside |
| CVS | turned profitable | −10% | −47% | outside | outside | outside | +60% | outside | to loss | +77% | +63% | +189% |