Healthcare Stocks
Track 64 healthcare companies from the S&P 500 and NASDAQ 100 indices with historical returns, performance rankings, and investment analysis.
What's Driving Healthcare Stock Returns?
Updated: Mar 2026Healthcare has historically been a defensive sector, but recent years have seen dramatic divergence within the space. GLP-1 obesity drugs have created massive winners (Eli Lilly, Novo Nordisk) while disrupting adjacent industries. Meanwhile, health insurers face margin pressure from rising medical costs and regulatory scrutiny.
Pharmaceuticals currently lead the sector with an average 1-year return of +19.0%, while Health Insurers lag at -34.4%. This reflects the market's enthusiasm for breakthrough therapeutics versus concerns about healthcare cost inflation.
Key themes driving returns: GLP-1/obesity drugs (LLY, NVO), oncology innovation, Medicare Advantage dynamics, and patent cliffs for legacy blockbusters. Biotech M&A has picked up as large pharma seeks to replenish pipelines.
Of the 64 healthcare stocks tracked, 33 delivered positive returns over the past year while 31 declined. The top performer, CAH, returned +74.8%, while MOH was the weakest at -52.0%. The median healthcare stock returned +2.3%.
Top 5 by 1-Year Return
Healthcare Stocks Monthly Returns (Apr'25 – Mar'26)
Which healthcare stocks are winning? Use this heatmap to identify the best and worst performers, spot which months hurt or helped specific stocks, and compare volatility across the sector. Over the past 12 months, 32 stocks gained while 32 declined. The leader is MRNA at +84.7%; the laggard is MOH at -54.7%.
| Stock | Apr'25 | May'25 | Jun'25 | Jul'25 | Aug'25 | Sep'25 | Oct'25 | Nov'25 | Dec'25 | Jan'26 | Feb'26 | Mar'26 | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| MRNA | +1% | -7% | +4% | +7% | -19% | +7% | +5% | -4% | +14% | +49% | +22% | -2% | +84.7% |
| VTRS | -3% | +6% | +2% | -2% | +22% | -6% | +5% | +4% | +16% | +5% | +14% | -9% | +62.3% |
| CAH | +3% | +9% | +9% | -7% | -4% | +6% | +22% | +11% | -3% | +5% | +7% | -5% | +60.2% |
| HCA | -0% | +11% | +1% | -8% | +14% | +6% | +8% | +11% | -8% | +5% | +8% | +1% | +55.1% |
| INCY | +3% | +4% | +5% | +10% | +13% | +0% | +10% | +12% | -5% | +1% | +1% | -9% | +52.8% |
| JNJ | -6% | +0% | -2% | +8% | +8% | +5% | +2% | +10% | +0% | +10% | +10% | -2% | +51.1% |
| ILMN | -2% | +6% | +16% | +8% | -3% | -5% | +30% | +6% | -0% | +10% | -7% | -12% | +49.9% |
| MCK | +6% | +1% | +2% | -5% | -1% | +13% | +5% | +9% | -7% | +1% | +19% | -4% | +41.4% |
| NUVL | +8% | -3% | +2% | +3% | -2% | +13% | +15% | +10% | -8% | +2% | -1% | -4% | +38.7% |
| IDXX | +3% | +19% | +4% | -0% | +21% | -1% | -1% | +20% | -10% | -1% | -2% | -13% | +36.6% |
| BIIB | -12% | +7% | -3% | +2% | +3% | +6% | +10% | +18% | -3% | +2% | +7% | -3% | +35.5% |
| MRK | -5% | -10% | +4% | -1% | +8% | +1% | +2% | +22% | +1% | +5% | +12% | -6% | +33.7% |
| GILD | -5% | +3% | +1% | +1% | +1% | -1% | +8% | +5% | -2% | +16% | +5% | -2% | +33.0% |
| COR | +5% | -0% | +3% | -5% | +2% | +7% | +8% | +9% | -8% | +6% | +4% | -6% | +26.7% |
| AMGN | -7% | -0% | -3% | +6% | -2% | -2% | +6% | +17% | -5% | +4% | +14% | -5% | +22.2% |
| HOLX | -6% | +7% | +5% | +3% | +0% | +1% | +10% | +1% | -1% | +1% | +1% | -0% | +21.6% |
| LLY | +9% | -18% | +6% | -5% | -1% | +4% | +13% | +25% | -0% | -3% | +2% | -6% | +20.9% |
| DGX | +6% | -3% | +4% | -6% | +9% | +5% | -7% | +8% | -8% | +8% | +13% | -6% | +20.2% |
| REGN | -6% | -18% | +7% | +4% | +7% | -3% | +16% | +20% | -1% | -4% | +6% | -4% | +18.5% |
| CVS | -1% | -4% | +8% | -9% | +18% | +3% | +5% | +3% | -1% | -5% | +7% | -4% | +17.5% |
| LH | +4% | +4% | +5% | -1% | +7% | +3% | -12% | +6% | -7% | +8% | +7% | -9% | +14.5% |
| PFE | -4% | -2% | +3% | -2% | +6% | +3% | -3% | +6% | -3% | +8% | +5% | -3% | +13.5% |
| EW | +4% | +4% | -0% | +1% | +3% | -4% | +6% | +5% | -2% | -5% | +6% | -5% | +12.9% |
| HSIC | -5% | +8% | +4% | -7% | +3% | -5% | -5% | +18% | +1% | -0% | +9% | -8% | +10.3% |
| ABBV | -6% | -5% | -0% | +3% | +11% | +10% | -5% | +4% | +0% | -2% | +4% | -4% | +10.1% |
| ··· 14 stocks in middle ··· | |||||||||||||
| DXCM | +5% | +20% | +2% | -7% | -7% | -11% | -13% | +9% | +5% | +10% | +1% | -13% | -5.9% |
| TMO | -14% | -6% | +1% | +15% | +5% | -1% | +17% | +4% | -2% | -0% | -10% | -10% | -6.0% |
| IQV | -12% | -10% | +12% | +18% | +3% | -0% | +14% | +6% | -2% | +2% | -22% | -8% | -6.6% |
| SYK | +0% | +2% | +4% | -1% | -0% | -5% | -4% | +4% | -5% | +5% | +5% | -13% | -8.4% |
| DHR | -3% | -5% | +4% | -0% | +4% | -4% | +9% | +5% | +1% | -4% | -4% | -11% | -8.4% |
| BDX | -10% | -17% | +0% | +3% | +8% | -2% | -5% | +9% | +1% | +5% | +10% | -9% | -9.0% |
| GEHC | -13% | +0% | +5% | -4% | +3% | +2% | -0% | +7% | +3% | -4% | +7% | -16% | -12.2% |
| SOLV | -13% | +11% | +4% | -6% | +2% | -0% | -5% | +23% | -7% | -3% | -4% | -10% | -12.2% |
| TECH | -14% | -4% | +6% | +6% | -0% | +2% | +12% | +3% | -9% | +9% | -8% | -14% | -12.8% |
| PODD | -4% | +29% | -3% | -8% | +18% | -9% | +1% | +5% | -13% | -10% | -4% | -11% | -16.3% |
| ABT | -1% | +2% | +2% | -7% | +5% | +1% | -7% | +4% | -3% | -12% | +6% | -7% | -16.5% |
| CI | +3% | -7% | +5% | -19% | +13% | -4% | -15% | +13% | -0% | -0% | +6% | -7% | -16.8% |
| ZBH | -9% | -11% | -1% | +0% | +16% | -7% | +2% | -3% | -8% | -3% | +13% | -5% | -17.0% |
| COO | -3% | -16% | +4% | -1% | -5% | +2% | +2% | +11% | +5% | -1% | +3% | -16% | -17.1% |
| RVTY | -12% | -3% | +7% | -9% | +3% | -3% | +7% | +12% | -7% | +13% | -10% | -13% | -18.9% |
| TFX | -1% | -11% | -3% | +1% | +6% | -3% | +2% | -8% | +7% | -14% | +17% | -12% | -21.4% |
| WAT | -6% | +0% | -0% | -17% | +5% | -1% | +17% | +15% | -6% | -2% | -14% | -10% | -22.3% |
| ZTS | -5% | +8% | -8% | -6% | +7% | -6% | -1% | -11% | -2% | -0% | +5% | -12% | -28.8% |
| BSX | +2% | +2% | +2% | -2% | +1% | -7% | +3% | +1% | -6% | -2% | -18% | -10% | -31.1% |
| ELV | -3% | -9% | +2% | -27% | +13% | +2% | -2% | +7% | +4% | -1% | -7% | -8% | -31.3% |
| HUM | -1% | -11% | +5% | +2% | +22% | -14% | +7% | -12% | +5% | -24% | -2% | -13% | -36.6% |
| CNC | -1% | -6% | -4% | -52% | +11% | +23% | -1% | +11% | +5% | +5% | +4% | -23% | -43.3% |
| UNH | -21% | -27% | +4% | -20% | +24% | +12% | -1% | -3% | +1% | -13% | +2% | -3% | -44.6% |
| BAX | -9% | -2% | -1% | -28% | +14% | -8% | -19% | +2% | +2% | +5% | +2% | -15% | -48.5% |
| MOH | -1% | -7% | -2% | -47% | +15% | +6% | -20% | -3% | +17% | +3% | -14% | -3% | -54.7% |
All Healthcare Stocks
The table below lists all 64 healthcare stocks sorted by market capitalization. The three largest — LLY, JNJ, ABBV — represent 33% of the sector's total $5.7T market cap. Over five years, 33 of these stocks have delivered positive returns.
| Stock | Market Cap | 1Y Return | 5Y Return | 10Y Return |
|---|---|---|---|---|
| LLY Eli Lilly and | $887B | +24.6% | +405.6% | +1495.0% |
| JNJ Johnson & Johnson | $588B | +53.8% | +78.1% | +200.8% |
| ABBV AbbVie Inc. | $395B | +9.1% | +153.1% | +498.4% |
| MRK Merck & Co., | $289B | +27.8% | +93.3% | +216.4% |
| UNH UnitedHealth Group Incorporated | $256B | -39.8% | -12.4% | +174.0% |
| AMGN Amgen Inc. | $199B | +21.8% | +88.7% | +237.4% |
| ABT Abbott Laboratories | $189B | -14.8% | +2.0% | +234.4% |
| GILD Gilead Sciences, Inc. | $181B | +32.4% | +175.0% | +131.7% |
| TMO Thermo Fisher Scientific | $173B | -8.0% | +5.5% | +239.2% |
| ISRG Intuitive Surgical, Inc. | $168B | -0.7% | +102.2% | +644.2% |
| PFE Pfizer Inc. | $152B | +12.3% | -0.1% | +47.0% |
| DHR Danaher Corporation | $132B | -7.9% | -0.5% | +403.7% |
| SYK Stryker Corporation | $130B | -6.0% | +50.3% | +268.3% |
| BMY Bristol-Myers Squibb Company | $121B | +3.3% | +19.4% | +25.5% |
| VRTX Vertex Pharmaceuticals Incorporated | $121B | -5.6% | +121.9% | +422.2% |
| HCA HCA Healthcare, Inc. | $119B | +70.6% | +201.9% | +686.1% |
| MCK McKesson Corporation | $117B | +47.9% | +445.7% | +528.1% |
| MDT Medtronic plc | $112B | -2.5% | -13.4% | +48.0% |
| BSX Boston Scientific Corporation | $103B | -27.1% | +75.8% | +301.1% |
| CVS CVS Health Corporation | $98B | +21.1% | +26.8% | +5.4% |
| REGN Regeneron Pharmaceuticals, Inc. | $79B | +10.4% | +59.9% | +84.3% |
| CI The Cigna Group | $72B | -12.3% | +24.0% | +110.0% |
| COR Cencora, Inc. | $68B | +37.7% | +249.8% | +434.0% |
| ELV Elevance Health, Inc. | $65B | -28.4% | -6.0% | +153.6% |
| BDX Becton, Dickinson and | $58B | -6.5% | -6.6% | +64.2% |
| CAH Cardinal Health, Inc. | $51B | +74.8% | +352.9% | +244.3% |
| ZTS Zoetis Inc. | $51B | -26.8% | -19.3% | +204.0% |
| EW Edwards Lifesciences Corporation | $48B | +20.4% | -0.3% | +181.3% |
| IDXX IDEXX Laboratories, Inc. | $46B | +41.2% | +16.3% | +637.8% |
| RMD ResMed Inc. | $34B | +6.0% | +32.2% | +345.6% |
| GEHC GE HealthCare Technologies | $32B | -9.3% | N/A | N/A |
| A Agilent Technologies, Inc. | $32B | -4.2% | -3.7% | +206.3% |
| WAT Waters Corporation | $28B | -21.4% | +5.1% | +123.9% |
| IQV IQVIA Holdings Inc. | $28B | -9.2% | -13.0% | +152.2% |
| BIIB Biogen Inc. | $27B | +32.4% | -30.4% | -31.2% |
| DXCM DexCom, Inc. | $25B | -6.2% | -29.2% | +275.8% |
| MTD Mettler-Toledo International Inc. | $24B | -2.4% | +11.8% | +249.4% |
| DGX Quest Diagnostics Incorporated | $22B | +20.5% | +83.8% | +250.3% |
| LH Labcorp Holdings Inc. | $22B | +13.2% | +34.7% | +188.2% |
| STE STERIS plc | $21B | -2.8% | +25.3% | +250.3% |
| MRNA Moderna, Inc. | $21B | +52.7% | -60.0% | N/A |
| HUM Humana Inc. | $20B | -33.1% | -56.9% | -2.4% |
| ZBH Zimmer Biomet Holdings, | $18B | -12.5% | -36.2% | +3.4% |
| INCY Incyte Corporation | $18B | +36.7% | +17.0% | +26.3% |
| ILMN Illumina, Inc. | $18B | +41.5% | -69.5% | -24.4% |
| WST West Pharmaceutical Services, | $17B | +5.6% | -10.8% | +277.2% |
| CNC Centene Corporation | $17B | -40.6% | -44.0% | +18.0% |
| HOLX Hologic, Inc. | $17B | +23.8% | +4.5% | +115.9% |
| VTRS Viatris Inc. | $16B | +57.5% | +19.8% | -63.9% |
| PODD Insulet Corporation | $15B | -10.2% | -11.2% | +583.0% |
| COO The Cooper Companies, | $14B | -10.1% | -26.8% | +84.1% |
| ALGN Align Technology, Inc. | $12B | +2.3% | -68.2% | +129.5% |
| UHS Universal Health Services, | $12B | +17.8% | +50.5% | +75.5% |
| SOLV Solventum Corporation | $12B | +1.1% | N/A | N/A |
| DVA DaVita Inc. | $10B | +6.8% | +40.0% | +112.5% |
| RVTY Revvity, Inc. | $10B | -22.2% | -31.3% | +80.4% |
| BAX Baxter International Inc. | $9B | -49.0% | -75.0% | -48.8% |
| HSIC Henry Schein, Inc. | $9B | +8.3% | +15.9% | +15.3% |
| TECH Bio-Techne Corporation | $8B | -14.6% | -42.9% | +132.1% |
| NUVL Nuvalent, Inc. | $8B | +25.6% | N/A | N/A |
| MOH Molina Healthcare, Inc. | $8B | -52.0% | -31.6% | +131.2% |
| CRL Charles River Laboratories | $8B | -6.9% | -44.2% | +106.0% |
| BIO Bio-Rad Laboratories, Inc. | $7B | +7.3% | -53.2% | +89.8% |
| TFX Teleflex Incorporated | $5B | -20.3% | -72.7% | -21.8% |
About Healthcare Stocks
The healthcare sector represents 64 companies in our US market coverage, with a combined market capitalization of $5.7T. These stocks span pharmaceuticals, biotechnology, medical devices, health insurance, and healthcare services.
The sector is anchored by mega-caps: LLY ($887B), JNJ ($588B), and ABBV ($395B) together account for 33% of the sector's total market value.
Industry Performance Breakdown
Other Key Healthcare Industries
Investing in Healthcare Stocks
Healthcare is traditionally a defensive sector with relatively stable demand regardless of economic conditions. However, individual stocks can be highly volatile based on drug trial results, FDA approvals, and patent expirations.
For diversified exposure, investors often consider the Health Care Select Sector SPDR Fund (XLV), which provides broad healthcare sector coverage in a single investment.