Stocks priced for less growth than they delivered: Healthcare
Companies worth over $1 billion whose price implies free cash flow growth at least 3 points a year below what they delivered over the years on file. Ranked by the size of that gap. A one-off cash flow year can distort both numbers, so check each company's history.
Top of the list: Doximity (DOCS) -56.4%; Alkermes Plc (ALKS) -48.8%; Teladoc (TDOC) -47.8%.
The median priced in minus delivered across these 50 companies is -20.4%.
| # | Company | Priced in minus delivered | Growth priced in | FCF growth delivered | P/FCF | Market cap |
|---|---|---|---|---|---|---|
| 1 | Doximity IncDOCS | -56.4% | -0.3% | +56.1% | 14.3x | $4.7B |
| 2 | Alkermes PlcALKS | -48.8% | -0.1% | +48.7% | 13.6x | $6.5B |
| 3 | Teladoc IncTDOC | -47.8% | -11.8% | +36.0% | 3.53x | $1.0B |
| 4 | Harmony Biosciences HoldingsHRMY | -47.0% | -9.8% | +37.2% | 6.82x | $2.4B |
| 5 | Waystar Holding Corp. Common StockWAY | -46.1% | +3.1% | +49.2% | 17.9x | $5.1B |
| 6 | Pacira BioSciences, Inc.PCRX | -44.0% | -8.3% | +35.7% | 10.7x | $1.5B |
| 7 | The Ensign Group IncENSG | -44.0% | +8.8% | +52.8% | 27.1x | $10.1B |
| 8 | Oscar Health IncOSCR | -42.9% | -4.5% | +38.4% | 9.86x | $10.4B |
| 9 | Krystal Biotech IncKRYS | -42.0% | +16.6% | +58.5% | 49.3x | $9.3B |
| 10 | UFP Technologies IncUFPT | -39.6% | +10.0% | +49.6% | 29.0x | $2.3B |
| 11 | Biomarin Pharmaceutical IncBMRN | -35.9% | +0.5% | +36.5% | 14.1x | $10.2B |
| 12 | Option Care Health IncOPCH | -35.1% | +7.2% | +42.3% | 19.9x | $5.1B |
| 13 | Neurocrine Biosciences IncNBIX | -34.3% | +4.2% | +38.5% | 18.6x | $14.0B |
| 14 | ANI Pharmaceuticals IncANIP | -30.4% | -5.3% | +25.1% | 9.46x | $1.6B |
| 15 | Amphastar PAMPH | -30.0% | -5.7% | +24.2% | 8.92x | $1.1B |
| 16 | Tenet Healthcare CorporationTHC | -28.8% | -6.2% | +22.7% | 8.65x | $21.9B |
| 17 | Bristol-Myers Squibb CompanyBMY | -28.8% | -4.7% | +24.1% | 9.50x | $122.0B |
| 18 | CONMED CorporationCNMD | -27.9% | -5.9% | +22.0% | 8.81x | $1.3B |
| 19 | HealthEquity IncHQY | -27.2% | +5.1% | +32.3% | 18.2x | $8.3B |
| 20 | Vertex Pharmaceuticals IncVRTX | -24.1% | +13.6% | +37.7% | 38.5x | $123.0B |
| 21 | Lantheus Holdings IncLNTH | -23.2% | +3.4% | +26.6% | 17.7x | $6.3B |
| 22 | Cardinal Health IncCAH | -22.4% | -1.1% | +21.3% | 31.5x | $58.3B |
| 23 | Merit Medical Systems IncMMSI | -22.3% | +7.4% | +29.7% | 24.6x | $5.3B |
| 24 | Innoviva IncINVA | -21.8% | -7.9% | +13.9% | 7.68x | $1.5B |
| 25 | Healthcare Services Group IncHCSG | -20.5% | -4.3% | +16.2% | 9.84x | $1.4B |
| 26 | Bausch Health Companies IncBHC | -20.4% | -27.0% | -6.6% | 2.31x | $2.3B |
| 27 | Surgery Partners IncSGRY | -20.3% | -6.0% | +14.4% | 8.88x | $1.7B |
| 28 | Medpace Holdings IncMEDP | -19.2% | +8.0% | +27.2% | 25.4x | $17.3B |
| 29 | Repligen CorporationRGEN | -18.9% | +26.6% | +45.6% | 105.9x | $9.9B |
| 30 | Zoetis IncZTS | -18.2% | +0.3% | +18.5% | 14.6x | $33.3B |
| 31 | Globus MedicalGMED | -17.3% | +3.6% | +20.9% | 18.2x | $10.7B |
| 32 | Halozyme Therapeutics IncHALO | -17.1% | +4.7% | +21.8% | 19.5x | $12.6B |
| 33 | Veeva Systems Inc Class AVEEV | -17.1% | +12.3% | +29.4% | 36.6x | $50.7B |
| 34 | Castle Biosciences IncCSTL | -16.1% | +13.1% | +29.2% | 38.8x | $1.1B |
| 35 | ICON PLCICLR | -16.0% | +0.6% | +16.6% | 11.0x | $12.4B |
| 36 | Boston Scientific CorpBSX | -15.6% | +2.7% | +18.3% | 17.2x | $63.1B |
| 37 | Exelixis IncEXEL | -15.5% | +2.0% | +17.5% | 16.9x | $14.3B |
| 38 | Regeneron Pharmaceuticals IncREGN | -14.6% | +2.6% | +17.2% | 16.8x | $68.5B |
| 39 | ResMed IncRMD | -13.4% | +5.3% | +18.7% | 20.7x | $34.4B |
| 40 | HCA Holdings IncHCA | -13.2% | -1.7% | +11.5% | 12.3x | $94.7B |
| 41 | National HealthCare CorporationNHC | -13.1% | +7.1% | +20.2% | 24.1x | $3.6B |
| 42 | LeMaitre Vascular IncLMAT | -12.6% | +7.7% | +20.4% | 25.1x | $1.9B |
| 43 | Prestige Brand Holdings IncPBH | -12.4% | -6.4% | +6.0% | 8.32x | $2.1B |
| 44 | Certara IncCERT | -12.0% | +4.1% | +16.1% | 14.0x | $1.3B |
| 45 | Bio-Rad Laboratories IncBIO | -10.8% | +8.8% | +19.6% | 26.6x | $10.0B |
| 46 | Protagonist Therapeutics IncPTGX | -10.7% | +32.3% | +43.0% | 156.1x | $8.8B |
| 47 | STERIS plcSTE | -10.3% | +5.9% | +16.2% | 22.0x | $21.4B |
| 48 | West Pharmaceutical Services IncWST | -10.1% | +18.4% | +28.5% | 55.4x | $26.0B |
| 49 | Elanco Animal HealthELAN | -10.0% | +12.6% | +22.5% | 36.6x | $10.4B |
| 50 | AstraZeneca PLCAZN | -9.7% | +9.2% | +18.9% | 20.3x | $238.8B |
Ranked from each company's latest price and reported results. Companies need a page on Investingly (SEC statements on file). Open any company for its reverse DCF, insider buying and 13F holders.
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Questions
Which company ranks first on the stocks priced for less growth than they delivered: healthcare list?
Doximity (DOCS), with a priced in minus delivered of -56.4%, as of October 12, 2026.
How is this list built?
Companies worth over $1 billion whose price implies free cash flow growth at least 3 points a year below what they delivered over the years on file. Ranked by the size of that gap. A one-off cash flow year can distort both numbers, so check each company's history. It shows the top 50 and is rebuilt every day.
Prices and ratios as of Oct 11, 2026. Statements from SEC filings. Information only, not investment advice.