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U.S. Clinical Research and Equipment Industry Analysis

UpdatedApr 25, 2026
DataAggregated Company Financials
Companies61
  • 7D-8.2%
  • 3M-22.8%
  • 1Y3.6%
  • YTDn/a

Over the last 7 days, the Clinical Research and Equipment industry has dropped 8.2%, driven by Thermo Fisher Scientific declining 11%. On the other hand West Pharmaceutical Services is actually up 12%. In the past year, the industry has gained 3.6%. As for the next few years, earnings are expected to grow by 16% per annum.

Industry Valuation and Performance

Has the U.S. Clinical Research and Equipment Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 25 Apr 2026US$545.0bUS$148.9bUS$14.3b30.5x38.1x3.7x
Mon, 23 Mar 2026US$542.7bUS$147.8bUS$14.0b34.6x38.7x3.7x
Wed, 18 Feb 2026US$589.4bUS$147.7bUS$13.9b34x42.4x4x
Fri, 16 Jan 2026US$700.6bUS$145.8bUS$12.4b38.1x56.7x4.8x
Sun, 14 Dec 2025US$656.7bUS$145.8bUS$12.5b34.4x52.6x4.5x
Tue, 11 Nov 2025US$636.9bUS$145.7bUS$12.2b34.6x52.3x4.4x
Thu, 09 Oct 2025US$621.3bUS$144.3bUS$14.6b32.7x42.7x4.3x
Sat, 06 Sep 2025US$576.4bUS$144.3bUS$14.6b29.9x39.6x4x
Mon, 04 Aug 2025US$552.8bUS$143.9bUS$13.0b31.8x42.5x3.8x
Wed, 02 Jul 2025US$531.9bUS$142.9bUS$9.1b35.6x58.3x3.7x
Fri, 30 May 2025US$504.0bUS$142.9bUS$9.2b32.4x54.5x3.5x
Sun, 27 Apr 2025US$519.5bUS$142.5bUS$10.0b37.5x52x3.6x
Tue, 25 Mar 2025US$596.0bUS$143.0bUS$9.9b39x60.2x4.2x
Thu, 20 Feb 2025US$619.7bUS$143.3bUS$10.0b35x62x4.3x
Sat, 18 Jan 2025US$685.4bUS$142.4bUS$10.2b43.8x67.2x4.8x
Mon, 16 Dec 2024US$666.2bUS$142.4bUS$10.2b45.5x65.2x4.7x
Wed, 13 Nov 2024US$692.4bUS$142.4bUS$10.3b44.6x67.3x4.9x
Fri, 11 Oct 2024US$729.8bUS$141.8bUS$8.5b36.9x85.9x5.1x
Sun, 08 Sep 2024US$731.3bUS$141.8bUS$8.5b37.5x86.1x5.2x
Tue, 06 Aug 2024US$742.2bUS$140.9bUS$11.3b36.4x65.9x5.3x
Thu, 04 Jul 2024US$662.1bUS$141.3bUS$12.2b38.5x54.4x4.7x
Sat, 01 Jun 2024US$696.4bUS$141.3bUS$12.4b38.2x56x4.9x
Mon, 29 Apr 2024US$709.6bUS$141.6bUS$12.7b39.2x55.8x5x
Wed, 27 Mar 2024US$735.1bUS$142.1bUS$12.8b43.8x57.4x5.2x
Fri, 23 Feb 2024US$720.2bUS$142.3bUS$12.5b42.5x57.4x5.1x
Sun, 21 Jan 2024US$687.1bUS$153.8bUS$14.2b35.9x48.5x4.5x
Tue, 19 Dec 2023US$684.6bUS$153.7bUS$14.2b37x48.1x4.5x
Thu, 16 Nov 2023US$603.3bUS$153.9bUS$13.9b33.7x43.4x3.9x
Sat, 14 Oct 2023US$629.3bUS$154.6bUS$11.2b33.2x56.2x4.1x
Mon, 11 Sep 2023US$687.1bUS$154.6bUS$11.2b31.6x61.3x4.4x
Wed, 09 Aug 2023US$733.4bUS$154.6bUS$11.2b30.3x65.5x4.7x
Fri, 07 Jul 2023US$687.8bUS$152.4bUS$12.5b29.6x55x4.5x
Sun, 04 Jun 2023US$683.1bUS$152.4bUS$12.5b29.1x54.6x4.5x
Tue, 02 May 2023US$701.9bUS$152.9bUS$9.4b29.5x74.4x4.6x
Price to Earnings Ratio

74.4x


Total Market Cap: US$701.9bTotal Earnings: US$9.4bTotal Revenue: US$152.9bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Clinical Research and Equipment Industry Price to Earnings3Y Average 57.1x202420252026
Current Industry PE
  • Investors are pessimistic on the American Life Sciences Tools and Services industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 38.1x which is lower than its 3-year average PE of 57.1x.
  • The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 3.7x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences Tools and Services industry have grown 15% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Comparison

How does U.S. Clinical Research and Equipment compare with similar industries?

US Market0.35%
Healthcare-3.05%
Life Sciences-8.19%
Clinical Research and Equipment-8.19%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
WST West Pharmaceutical ServicesUS$306.1611.8%
+US$2.4b		42.7%PE44.7x
ALMR Alamar BiosciencesUS$24.8412.9%
+US$230.8m		n/aPS22.8x
STVN Stevanato GroupUS$16.184.2%
+US$177.5m		-25.1%PE27x
ABCL AbCellera BiologicsUS$4.153.5%
+US$42.4m		61.5%PS16.7x
AZTA AzentaUS$25.913.5%
+US$40.1m		-3.1%PE45.3x

Latest News

STVN
US$16.18
Stevanato Group
7D
4.2%
1Y
-25.1%
TMO
US$469.71
Thermo Fisher Scientific
7D
-10.8%
1Y
10.7%
MEDP
US$410.54
Medpace Holdings
7D
-21.1%
1Y
37.5%
WST
US$306.16
West Pharmaceutical Services
7D
11.8%
1Y
42.7%

West Pharmaceutical: A High-Quality Beat-And-Raise With More Upside Ahead

Apr 24
CYRX
US$10.59
Cryoport
7D
2.3%
1Y
83.9%
TKNO
US$3.18
Alpha Teknova
7D
8.5%
1Y
-51.0%
DHR
US$177.25
Danaher
7D
-9.0%
1Y
-10.1%

Danaher Q1 2026 Earnings Update

Apr 22
ICLR
US$102.17
ICON
7D
-14.6%
1Y
-29.5%

ICLR: Oncology And Site Network Expansion Will Offset Accounting Overhang

ICON's updated analyst price target has shifted from about $142.86 to roughly $132.08 as analysts factor in lower modeled revenue growth, a slightly different discount rate, and a reduced future P/E, partly offset by a modestly higher profit margin outlook and mixed reactions to the recent accounting investigation and subsequent ratings changes. Analyst Commentary Recent research on ICON reflects a wide range of opinions as firms reassess the stock following the internal accounting investigation, reduced price targets, and updates to sector models in life science tools, diagnostics, and contract research organizations.
AZTA
US$25.91
Azenta
7D
3.5%
1Y
-3.1%
ABCL
US$4.15
AbCellera Biologics
7D
3.5%
1Y
61.5%
MRVI
US$3.55
Maravai LifeSciences Holdings
7D
4.7%
1Y
73.6%
ALMR
US$24.84
Alamar Biosciences
7D
12.9%
1Y
n/a

Alamar Biosciences: Looking For An Early Detection

Apr 19
WAT
US$309.87
Waters
7D
-5.5%
1Y
-8.3%

WAT: Reorganization And Product Pipeline Will Likely Keep Upside In Check

Analysts have kept their price target for Waters steady at $330.00, citing updated assumptions for slightly higher revenue growth, a wider profit margin, and a higher future P/E multiple as the key drivers behind the unchanged fair value view. What's in the News Launched the Waters omniDAWN Multi-Angle Light Scattering Photometer for UHPLC and UPLC workflows, targeting absolute molar mass and size measurements for complex analytes such as protein aggregates, viral vectors, lipid nanoparticles, and advanced materials.
IQV
US$162.28
IQVIA Holdings
7D
-8.0%
1Y
8.0%

IQV: Data And Clinical Trial Scale Will Support Earnings Reacceleration

The analyst price target for IQVIA Holdings has been reset from $250.00 to $231.60 as analysts factor in updated models after recent Q4 results, AI related uncertainties, and broader sector target cuts, while still highlighting the company’s data and clinical trial capabilities in several upgraded ratings. Analyst Commentary Recent research updates on IQVIA show a mix of optimism around the company’s data assets and clinical trial exposure, alongside caution as models are reset after Q4 results and AI related questions.
MTD
US$1,282.45
Mettler-Toledo International
7D
-4.3%
1Y
20.8%

MTD: Extensive Buybacks And 2026 Sales Outlook Will Support Future Upside

Analysts have trimmed their price target for Mettler-Toledo International by about $7 to $1,498, reflecting small adjustments to fair value, discount rate, revenue growth and profit margin assumptions, along with a slightly lower future P/E estimate. What's in the News Mettler-Toledo International reported completion of a long running share repurchase program first announced on February 9, 2010, having bought back a total of 17,805,987 shares, or 66.06%, for US$9,514.61m under the authorization.
A
US$115.55
Agilent Technologies
7D
-5.2%
1Y
8.7%

A: New Diagnostic Expansion And Guidance Will Support Long Term Upside

Analysts have slightly reduced their price target on Agilent Technologies by about $1, citing updated assumptions for fair value, discount rate, revenue growth, profit margin, and future P/E. They indicate that the overall outlook remains largely intact.