Sector analysis · US
Health Care: which companies drove growth
The 20 largest Health Care companies by market cap at the end of Q3 2024 (30 Sep 2024), compared with Q3 2023.
The top 20 at Q3 2024
Q3 2024 vs Q3 2023: combined net profit $36.1B (−29%), median EPS −2% (11 of 20 up), market-cap-weighted price +23%. 20 of 20 reported.
| # | Company | Weight | EPS $, base → now | EPS growth | Contribution | Price |
|---|---|---|---|---|---|---|
| 1 | Eli Lilly and Company | 17.5% | −0.06 → 1.07 | turned profitable | +1.8 pp | +64% |
| 2 | UnitedHealth Group Incorporated | 11.9% | 6.24 → 6.51 | +4% | +0.4 pp | +17% |
| 3 | Johnson & Johnson | 8.6% | 10.21 → 1.11 | −89% | −40.3 pp | +4% |
| 4 | AbbVie Inc. | 7.7% | 1.00 → 0.88 | −12% | −0.4 pp | +33% |
| 5 | Merck & Co., Inc. | 6.3% | 1.86 → 1.24 | −33% | −2.7 pp | +11% |
| 6 | Thermo Fisher Scientific Inc. | 5.2% | 4.42 → 4.24 | −4% | −0.1 pp | +22% |
| 7 | Danaher Corporation | 4.5% | 1.51 → 1.12 | −26% | −0.5 pp | +28% |
| 8 | Abbott Laboratories | 4.3% | 0.82 → 0.94 | +15% | +0.4 pp | +17% |
| 9 | Intuitive Surgical, Inc. | 3.8% | 1.16 → 1.56 | +34% | +0.3 pp | +68% |
| 10 | Amgen Inc. | 3.8% | 3.22 → 5.22 | +62% | +1.9 pp | +20% |
| 11 | Pfizer Inc. | 3.6% | −0.42 → 0.78 | turned profitable | +11.9 pp | −13% |
| 12 | Stryker Corporation | 3.0% | 1.80 → 2.16 | +20% | +0.2 pp | +32% |
| 13 | Boston Scientific Corporation | 2.7% | 0.34 → 0.32 | −8% | −0.1 pp | +58% |
| 14 | Vertex Pharmaceuticals Incorporated | 2.6% | 3.97 → 4.01 | +1% | 0.0 pp | +33% |
| 15 | Elevance Health Inc. | 2.6% | 5.45 → 4.36 | −20% | −0.5 pp | +17% |
| 16 | Medtronic plc | 2.5% | 0.68 → 0.99 | +46% | +0.6 pp | +15% |
| 17 | Regeneron Pharmaceuticals, Inc. | 2.5% | 8.89 → 11.54 | +30% | +0.6 pp | +27% |
| 18 | Bristol-Myers Squibb Company | 2.3% | 0.93 → 0.60 | −35% | −1.2 pp | −11% |
| 19 | Gilead Sciences, Inc. | 2.3% | 1.73 → 1.00 | −42% | −1.6 pp | +12% |
| 20 | HCA Healthcare, Inc. | 2.3% | 3.89 → 4.89 | +26% | +0.3 pp | +64% |
| Sector earnings growth | 100% | −29.2 pp |
Who joined and who left
1 joined and 1 left the top 20 since Q2 2024, as market caps moved.
Joined the top 20 since Q2 2024
Left the top 20 since Q2 2024
- Cigna 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% |
| 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% |
| ABBV | −55% | −67% | +492% | −32% | −12% | to loss | −6% | −31% | −89% | turned profitable | −46% | +285% |
| MRK | +45% | to loss | +68% | turned profitable | −33% | turned profitable | +7% | −18% | +87% | −20% | to loss | to loss |
| TMO | +17% | +5% | +4% | +15% | −4% | +14% | +15% | +6% | +1% | +9% | +11% | +9% |
| DHR | −28% | −51% | −25% | −18% | −26% | +3% | −9% | −37% | +13% | +13% | +10% | +60% |
| ABT | +1% | +54% | −7% | −5% | +15% | +479% | +8% | +36% | 0% | −81% | −18% | −48% |
| ISRG | +29% | +86% | +51% | +24% | +34% | +11% | +27% | +24% | +25% | +18% | +19% | +30% |
| AMGN | −19% | −53% | to loss | −46% | +62% | −18% | turned profitable | +92% | +14% | +111% | +4% | +65% |
| PFE | to loss | to loss | −43% | −99% | turned profitable | turned profitable | −5% | +12,043% | −21% | to loss | −10% | to loss |
| SYK | −16% | +103% | +33% | +11% | +20% | −53% | −18% | +7% | +3% | +56% | +14% | +44% |
| BSX | outside | outside | +61% | +22% | −8% | +11% | +35% | +143% | +59% | +18% | +99% | outside |
| VRTX | +11% | +18% | +57% | to loss | +1% | −6% | −41% | turned profitable | +5% | +33% | +61% | +8% |
| 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% |
| REGN | −24% | −3% | −13% | +46% | +30% | −21% | outside | outside | outside | outside | outside | outside |
| BMY | +24% | −8% | to loss | outside | −35% | −96% | turned profitable | −23% | +80% | +1,401% | +9% | +153% |
| GILD | +22% | −12% | outside | +55% | −42% | +25% | turned profitable | +21% | +143% | +23% | +55% | to loss |
| HCA | outside | outside | outside | +29% | +26% | outside | outside | +24% | +42% | +45% | +11% | +12% |