-2.08%
last session
AbbVie’s stock fell amid broader market gains, but the company’s recent $15 billion operational beat and new quarte...
Sourcezacks.com - Jun 18
Biotech & Healthcare Stocks
GrowthInnovation
Large-cap pharma, gene editing, medical devices, life sciences tools, and AI-driven drug discovery across the healthcare stack. The universe is dominated by Large-Cap Pharma (57%) and Managed Care (15%), underperforming SPY by 3.6 percentage points YTD.
YTD Return
+5.7%
-3.6 pts vs SPY
16 of 46 beat SPY
1-Month Return
+6.9%
+5.1 pts vs SPY
Universe Size
46 Stocks
Curated theme basket
Market Cap
$4.69T
Total capitalization
Theme Performance
Biotech & Healthcare Stocks Performance vs SPY and QQQ
Track Biotech & Healthcare Stocks without checking every day
Weekly updates on performance, valuation changes, and key movers.
Theme Composition
Biotech & Healthcare Stocks Breakdown
Composition last reviewed
As of Jun 1, 2026
Categories reflect each company's primary theme role. Some companies may have exposure to multiple segments.
Theme Overview
Biotech & Healthcare Stocks Overview
A summary of how the theme breaks down across business segments and where concentration risk lives.
Selected Stocks
46
in theme
Total Market Cap
$4.69T
combined
Highly Concentrated
The top 2 segments (Large-Cap Pharma & Managed Care & Med Devices & Other segments) represent 71.5% of this theme by market cap.
Top Biotech & Healthcare Stocks Stocks
Top Biotech & Healthcare Stocks Stocks by Segment, Performance, and Valuation
LLY
Eli Lilly and Company
Price$1,098.13
Mkt Cap-
YTD+1.6%
Rev G47.4%
ABBV
AbbVie Inc.
Price$216.63
Mkt Cap-
YTD-5.5%
Rev G8.6%
UNH
UnitedHealth Group Incorporated
Price$400.96
Mkt Cap-
YTD+19.2%
Rev G9.7%
MRK
Merck & Co., Inc.
Price$113.87
Mkt Cap-
YTD+7%
Rev G1.2%
NVO
Novo Nordisk A/S
Price$43.19
Mkt Cap-
YTD-17.6%
Rev G8.1%
AMGN
Amgen Inc.
Price$337.60
Mkt Cap-
YTD+3%
Rev G9.1%
TMO
Thermo Fisher Scientific Inc.
Price$464.61
Mkt Cap-
YTD-21.6%
Rev G5.4%
ABT
Abbott Laboratories
Price$88.38
Mkt Cap-
YTD-28.8%
Rev G6.4%
GILD
Gilead Sciences, Inc.
Price$123.76
Mkt Cap-
YTD+1.8%
Rev G3.5%
ISRG
Intuitive Surgical, Inc.
Price$406.78
Mkt Cap-
YTD-27.6%
Rev G21.4%
| # | Chart (YTD) | |||||||
|---|---|---|---|---|---|---|---|---|
| 1 | LLY Eli Lilly and Company | $1,098.13 | $1.04T | +1.6% | +11.1% | 47.8 | 47.4% | |
| 2 | ABBV AbbVie Inc. | $216.63 | $383.17B | -5.5% | +3.4% | 91.4 | 8.6% | |
| 3 | UNH UnitedHealth Group Incorporated | $400.96 | $363.94B | +19.2% | +2.5% | 30.3 | 9.7% | |
| 4 | MRK Merck & Co., Inc. | $113.87 | $281.25B | +7% | +1.2% | 15.6 | 1.2% | |
| 5 | NVO Novo Nordisk A/S | $43.19 | $191.93B | -17.6% | -2.5% | 12.2 | 8.1% | |
| 6 | AMGN Amgen Inc. | $337.60 | $182.2B | +3% | +4.1% | 23.7 | 9.1% | |
| 7 | TMO Thermo Fisher Scientific Inc. | $464.61 | $172.66B | -21.6% | +5.1% | 26.2 | 5.4% | |
| 8 | ABT Abbott Laboratories | $88.38 | $153.68B | -28.8% | +0.6% | 11.6 | 6.4% | |
| 9 | GILD Gilead Sciences, Inc. | $123.76 | $153.66B | +1.8% | -4.6% | 18.3 | 3.5% | |
| 10 | ISRG Intuitive Surgical, Inc. | $406.78 | $144.48B | -27.6% | -7.5% | 51.7 | 21.4% |
Showing 10 of 46 stocks
Daily Intelligence
Yesterday in Biotech & Healthcare Stocks
Key headlines and stock-level catalysts from the last trading session.
Markets closed - showing last session.
The next recap publishes after Jun 22, 2026 market close.
Session Brief
Jun 19, 2026Biotech gains driven by FDA approvals and M&A: Moderna’s flu vaccine cleared, Novo’s Wegovy Europe push, Jazz‑AbCellera antibody deal, Biogen’s $1B RayThera buy, and Incyte’s lymphoma approval. Momentum in CGM and gene‑editing stocks (DexCom, CRISPR) contrasts with dividend‑focused but flat performers (AbbVie, Merck, Vertex). Market sentiment is mixed as some stocks rally on catalysts while others lag on valuation or earnings concerns.
Key Drivers
Stock-Level Catalysts
Sentiment reflects catalyst narrative, not price direction - a stock can close lower while the fundamental driver is bullish.
-2.32%
last session
Bristol Myers Squibb announced a new dividend and scheduled its Q2 2026 earnings release for July 30, giving invest...
+1.88%
last session
CRSP surged after reporting positive Phase 3 results for its CRISPR‑based sickle cell therapy and announcing a stra...
Sourcefool.com - Jun 18
-1%
last session
Jazz Pharmaceuticals secured a $876 million antibody partnership with AbCellera to develop next‑generation solid‑tu...
Sourcezacks.com - Jun 18
-1.4%
last session
Merck’s CAPVAXIVE® pneumococcal vaccine just gained FDA approval for high‑risk children and teens, expanding its ma...
Sourcezacks.com - Jun 18
Updated after market close
Jun 19, 2026
Valuation Pulse
Are Biotech & Healthcare Stocks cheap or expensive right now?
DCF valuations and Wall Street ratings across the theme.
Data as of Jun 19, 2026 (EOD)
46 stocks in theme - 40 with full coverage
DCF Valuation
(Intrinsic Value)40
of 46
covered
Undervalued
21(53%)
Fair Value
9(23%)
Overvalued
10(25%)
Top DCF Upside (Undervalued Only)
View all
Wall Street Consensus
(Price Targets)46
of 46
covered
Buy / Strong Buy
40(87%)
Hold
6(13%)
Sell / Strong Sell
0(0%)
Coverage Snapshot
Consensus is based on 46 stocks with analyst price targets. DCF analysis is based on 40 stocks with intrinsic value estimates.
Valuation Distribution
(46 covered stocks)Theme Valuation Score
2.0
Cheap
Scale: 1 (Cheap) to 5 (Expensive)
1
Bargain
19 stocks (41%)
>= +30%
2
Cheap
14 stocks (30%)
+10% to +30%
3
Fair
10 stocks (22%)
-10% to +10%
4
Expensive
1 stocks (2%)
-25% to -10%
5
Very Expensive
2 stocks (4%)
<= -25%
Valuation score blends Wall Street target upside at 65% weight and DCF upside at 35% weight when both are available; single-source covered stocks use the available signal. Higher score means more expensive.
Earnings Calendar
Upcoming Earnings in Biotech & Healthcare Theme
Companies reporting in the next 30 days. Earnings dates and estimates can change as reports approach.
| Company | Reports | Timing | Est. EPS | Est. Revenue |
|---|---|---|---|---|
| ABTAbbott Laboratories | Thu, Jul 16 | Unconfirmed | $1.28 est. | $12.54B est. |
 ELVElevance Health Inc. | Thu, Jul 16 | Unconfirmed | $6.16 est. | $48.8B est. |
Estimates are based on available consensus data. BMO = Before Market Open, AMC = After Market Close.
Research & Methodology
How to evaluate Biotech & Healthcare Stocks
Methodology, investment thesis, and key risks for this theme.
Show DetailsHide Details
Research & Methodology
How to evaluate Biotech & Healthcare Stocks
Methodology, investment thesis, and key risks for this theme.
How we evaluate these stocks
Our methodology
We separate large pharma, biotech, devices, tools, managed care, and AI drug discovery because each segment carries different catalysts and risks. Financial quality is evaluated alongside pipeline and reimbursement exposure.
- Revenue durability and patent life
- Pipeline quality and clinical catalyst risk
- Margins, cash flow, and balance-sheet strength
- Device and tools growth versus funding cycles
- Valuation against growth and regulatory risk
Investment thesis
Why this theme exists
Healthcare demand is durable, but public-market returns depend on innovation, pricing power, clinical success, and capital discipline. The theme spans defensive compounders and high-upside pipeline stories.
- Large pharma can compound through major franchises
- Biotech pipelines create asymmetric upside
- Medical devices benefit from procedure growth
- Tools companies support research and diagnostics
- AI can improve discovery and development workflows
Key risks
What could go wrong
Healthcare stocks can look defensive at the sector level while individual names carry sharp event risk. Trial failures, patent cliffs, pricing pressure, and reimbursement changes can reset valuations fast.
- Clinical failures can erase pipeline value
- Patent cliffs can pressure large pharma revenue
- Drug pricing and reimbursement rules can change
- Biotech funding cycles affect smaller companies
- Device and tools demand can slow with procedure or lab budgets
FAQ
Frequently asked questions
Common questions investors have about the Biotech & Healthcare Stocks theme.
01What are biotech and healthcare stocks?
Companies whose revenue is materially driven by pharmaceutical development and commercialization, medical device sales, life sciences tools and instrumentation, managed care enrollment, or AI-driven drug discovery. Spans a wide risk spectrum from defensive large-cap pharma (LLY, ABBV) to clinical-stage gene editing pure-plays (CRSP, NTLA).
02What are the best biotech stocks to invest in?
Eli Lilly (LLY) and Novo Nordisk (NVO) dominate GLP-1 / obesity — the largest growth driver in pharma. Vertex (VRTX) has a unique CF franchise and emerging pipeline in pain and kidney disease. Regeneron (REGN) commands ophthalmology and has a strong oncology pipeline. CRISPR Therapeutics (CRSP) leads gene editing with sickle cell approval. The best entry point depends on tolerance for pipeline risk.
03What is the difference between biotech and pharma stocks?
The distinction is blurring. Traditional pharma (Merck, Pfizer) has diversified commercial portfolios and distributes significant dividends. Large-cap biotech (Amgen, Gilead) operates similarly but may be more concentrated. Small-cap biotech usually refers to pre-revenue or early-commercial companies where the entire value is in pipeline probability. The screener labels all three under a single theme for unified comparison.
04Are healthcare stocks defensive?
Large-cap pharma and managed care are relatively defensive — healthcare spending is inelastic and insurance enrollment is sticky. However, biotech and medical devices are growth-oriented and can underperform in risk-off environments. Drug pricing legislation is a macro-level risk that affects the entire sector. Defensiveness decreases significantly as you move from managed care to clinical-stage biotech.
05How does the GLP-1 trend affect healthcare stocks?
GLP-1 agonists (Ozempic, Wegovy, Mounjaro) represent the largest drug class inflection in decades. Key beneficiaries: LLY and NVO as direct producers; device makers could face headwinds if obesity reduces surgical volume; managed care faces near-term cost pressure but long-term savings from reduced co-morbidities. Scale and manufacturing capacity have become the new moat.
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