As the Q4 earnings season wraps, let’s dig into this quarter’s best and worst performers in the healthcare providers & services industry, including McKesson (NYSE: MCK) and its peers.

The healthcare providers and services sector, from insurers to hospitals, benefits from consistent demand, generating stable revenue through premiums and patient services. However, it faces challenges from high operational and labor costs, reimbursement pressures that squeeze margins, and regulatory uncertainty. Looking ahead, an aging population with more chronic diseases and a shift toward value-based care create tailwinds. Digitization via telehealth, data analytics, and personalized medicine offers new revenue streams. Nonetheless, headwinds persist, including clinical labor shortages, ongoing reimbursement cuts, and regulatory scrutiny over pricing and quality.

The 40 healthcare providers & services stocks we track reported a mixed Q4. As a group, revenues beat analysts’ consensus estimates by 1.2% while next quarter’s revenue guidance was in line.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 5.8% since the latest earnings results.

McKesson (NYSE: MCK)

With roots dating back to 1833, making it one of America's oldest continuously operating businesses, McKesson (NYSE: MCK) is a healthcare services company that distributes pharmaceuticals, medical supplies, and provides technology solutions to pharmacies, hospitals, and healthcare providers.

McKesson reported revenues of $106.2 billion, up 11.4% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a narrow beat of analysts’ full-year EPS guidance estimates but revenue in line with analysts’ estimates.

Interestingly, the stock is up 7.8% since reporting and currently trades at $886.50.

Is now the time to buy McKesson? Access our full analysis of the earnings results here, it’s free.

Best Q4: RadNet (NASDAQ: RDNT)

With over 350 imaging facilities across seven states and a growing artificial intelligence division, RadNet (NASDAQ: RDNT) operates a network of outpatient diagnostic imaging centers across the United States, offering services like MRI, CT scans, PET scans, mammography, and X-rays.

RadNet reported revenues of $547.7 million, up 14.8% year on year, outperforming analysts’ expectations by 5.8%. The business had an exceptional quarter with an impressive beat of analysts’ revenue and EPS estimates.

Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 14.2% since reporting. It currently trades at $59.91.

Is now the time to buy RadNet? Access our full analysis of the earnings results here, it’s free.

Weakest Q4: Chemed (NYSE: CHE)

With a unique business model combining end-of-life care and household services, Chemed (NYSE: CHE) operates two distinct businesses: VITAS, which provides hospice care for terminally ill patients, and Roto-Rooter, which offers plumbing and water restoration services.

Chemed reported revenues of $639.3 million, flat year on year, falling short of analysts’ expectations by 3%. It was a disappointing quarter as it posted a significant miss of analysts’ full-year EPS guidance estimates and a significant miss of analysts’ revenue estimates.

As expected, the stock is down 19.9% since the results and currently trades at $373.71.

Read our full analysis of Chemed’s results here.

Brookdale (NYSE: BKD)

With a network of over 650 communities serving approximately 59,000 residents across 41 states, Brookdale Senior Living (NYSE: BKD) operates senior living communities across the United States, offering independent living, assisted living, memory care, and continuing care retirement communities.

Brookdale reported revenues of $754.1 million, down 3.4% year on year. This print lagged analysts' expectations by 1.7%. Overall, it was a slower quarter as it also logged a miss of analysts’ revenue estimates and full-year EBITDA guidance meeting analysts’ expectations.

Brookdale had the slowest revenue growth among its peers. The stock is down 15.7% since reporting and currently trades at $13.96.

Read our full, actionable report on Brookdale here, it’s free.

Alignment Healthcare (NASDAQ: ALHC)

Founded in 2013 with a mission to transform healthcare for seniors, Alignment Healthcare (NASDAQ: ALHC) provides Medicare Advantage health plans for seniors with features like concierge services, transportation benefits, and technology-driven care coordination.

Alignment Healthcare reported revenues of $1.01 billion, up 44.4% year on year. This result beat analysts’ expectations by 1%. Taking a step back, it was a mixed quarter as it also produced a beat of analysts’ EPS estimates but revenue guidance for next quarter missing analysts’ expectations significantly.

The company added 6,700 customers to reach a total of 236,300. The stock is down 13.9% since reporting and currently trades at $17.58.

Read our full, actionable report on Alignment Healthcare here, it’s free.

Market Update

Late in 2025 into early 2026, there was hand wringing around artificial intelligence. For software companies, the fear was that AI would erode pricing power and compress margins as new tools made it easier to replicate what once required expensive enterprise platforms. Crypto investors had their own version of the same anxiety: if AI agents could trade, allocate capital, and manage wallets autonomously, what exactly was the long-term value of today’s crypto infrastructure?

These concerns triggered a noticeable rotation away from these sectors and into safer havens. But markets rarely dwell on one narrative for long. Spring 2026 came, and the focus shifted abruptly from technological disruption to geopolitical risk. The US’ conflict with Iran became the dominant driver of market psychology, and when geopolitics takes center stage, the script changes quickly. Investors stop debating growth rates and start worrying about oil supply, inflation, and global stability.

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