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U.S. Clinical Research and Equipment Industry Analysis

UpdatedAug 29, 2026
DataAggregated Company Financials
Companies63
  • 7D-1.6%
  • 3M24.4%
  • 1Y25.2%
  • YTDn/a

Over the last 7 days, the Clinical Research and Equipment industry has dropped 1.6%, driven by a pullback from Thermo Fisher Scientific of 1.1%. Over the past 12 months, the industry was up 25%. Looking forward, earnings are forecast to grow by 19% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Aug 2026US$749.0bUS$153.5bUS$14.2b39.5x52.7x4.9x
Tue, 28 Jul 2026US$658.7bUS$152.4bUS$14.0b41.5x47.2x4.3x
Thu, 25 Jun 2026US$585.7bUS$151.2bUS$13.6b42.4x42.9x3.9x
Sat, 23 May 2026US$544.7bUS$150.3bUS$14.0b33.1x38.9x3.6x
Mon, 20 Apr 2026US$595.2bUS$147.9bUS$14.1b38.3x42.3x4x
Wed, 18 Mar 2026US$541.4bUS$147.8bUS$14.0b34.9x38.6x3.7x
Fri, 13 Feb 2026US$600.2bUS$147.6bUS$12.4b33.2x48.3x4.1x
Sun, 11 Jan 2026US$699.1bUS$145.8bUS$12.4b37.1x56.5x4.8x
Tue, 09 Dec 2025US$659.4bUS$145.8bUS$12.5b35.7x52.9x4.5x
Thu, 06 Nov 2025US$642.0bUS$145.5bUS$12.1b34.1x53.2x4.4x
Sat, 04 Oct 2025US$620.2bUS$144.3bUS$14.6b31.2x42.6x4.3x
Mon, 01 Sep 2025US$585.1bUS$144.3bUS$14.6b29.2x40.2x4.1x
Wed, 30 Jul 2025US$583.6bUS$143.7bUS$8.8b38.6x66.2x4.1x
Fri, 27 Jun 2025US$534.3bUS$142.9bUS$9.2b36x58.3x3.7x
Sun, 25 May 2025US$494.4bUS$142.8bUS$9.1b31.6x54.4x3.5x
Tue, 22 Apr 2025US$503.8bUS$142.6bUS$10.0b33.9x50.6x3.5x
Thu, 20 Mar 2025US$599.3bUS$143.0bUS$9.9b38.5x60.5x4.2x
Sat, 15 Feb 2025US$618.3bUS$143.3bUS$10.0b34.4x61.8x4.3x
Mon, 13 Jan 2025US$671.3bUS$142.4bUS$10.2b43.2x65.8x4.7x
Wed, 11 Dec 2024US$678.3bUS$142.4bUS$10.2b44.7x66.3x4.8x
Fri, 08 Nov 2024US$702.9bUS$142.4bUS$10.4b43.2x67.8x4.9x
Sun, 06 Oct 2024US$733.8bUS$141.8bUS$8.5b37.6x86.4x5.2x
Tue, 03 Sep 2024US$749.6bUS$141.8bUS$8.5b37.8x88.2x5.3x
Thu, 01 Aug 2024US$749.1bUS$140.9bUS$12.5b37.9x59.7x5.3x
Sat, 29 Jun 2024US$682.1bUS$141.3bUS$12.2b37.9x56x4.8x
Mon, 27 May 2024US$726.8bUS$141.5bUS$12.4b38.7x58.5x5.1x
Wed, 24 Apr 2024US$721.5bUS$142.0bUS$12.7b41.3x56.9x5.1x
Fri, 22 Mar 2024US$744.1bUS$142.1bUS$12.8b45x58x5.2x
Sun, 18 Feb 2024US$720.7bUS$142.2bUS$12.5b43.3x57.5x5.1x
Tue, 16 Jan 2024US$684.9bUS$153.9bUS$14.2b35.4x48.3x4.5x
Thu, 14 Dec 2023US$653.3bUS$153.7bUS$14.2b36.9x45.9x4.2x
Sat, 11 Nov 2023US$582.1bUS$153.8bUS$13.9b30.9x41.7x3.8x
Mon, 09 Oct 2023US$644.8bUS$154.6bUS$11.2b33.1x57.5x4.2x
Wed, 06 Sep 2023US$717.8bUS$154.6bUS$11.2b32.2x64.1x4.6x
Price to Earnings Ratio

64.1x


Total Market Cap: US$717.8bTotal Earnings: US$11.2bTotal Revenue: US$154.6bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Clinical Research and Equipment Industry Price to Earnings3Y Average 55.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the American Life Sciences Tools and Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 55.5x.
  • The 3-year average PS ratio of 4.4x is lower than the industry's current PS ratio of 4.9x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences Tools and Services industry have grown 8.3% 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 Market0.25%
Healthcare-2.16%
Life Sciences-1.59%
Clinical Research and Equipment-1.59%
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
RVTY RevvityUS$128.803.2%
+US$451.9m		42.9%PE60.5x
WAT WatersUS$414.691.0%
+US$392.0m		37.4%PE244.5x
IQV IQVIA HoldingsUS$261.750.7%
+US$317.7m		37.2%PE31.3x
BIO Bio-Rad LaboratoriesUS$387.702.0%
+US$205.1m		30.2%PE46.6x
AVTR AvantorUS$14.580.8%
+US$81.2m		8.2%PS1.5x

Latest News

AVTR
US$14.58
Avantor
7D
0.8%
1Y
8.2%
A
US$153.84
Agilent Technologies
7D
-3.2%
1Y
22.4%
TMO
US$622.18
Thermo Fisher Scientific
7D
-1.1%
1Y
26.3%
TEM
US$64.04
Tempus AI
7D
-11.9%
1Y
-15.6%
Narrative Update • Aug 28

Tempus AI: The Data Flywheel Is Starting to Work

My original thesis on Tempus AI was that this isn’t simply another AI software company. It’s building a healthcare data platform where diagnostics generate data, that data improves its AI products, and better products attract more customers and generate even more data.
TXG
US$61.54
10x Genomics
7D
-5.5%
1Y
339.3%
DHR
US$216.07
Danaher
7D
-1.3%
1Y
5.0%
MEDP
US$600.65
Medpace Holdings
7D
-3.2%
1Y
26.3%
New Narrative • Aug 25

Why Medpace Outperforms Competitors in the Mid-Sized Biotech Niche

Medpace Holdings is a clinical research organization, or CRO. The simplest way to understand a CRO is to think of it as a general contractor for clinical trials.
FTRE
US$18.81
Fortrea Holdings
7D
2.3%
1Y
91.0%
Narrative Update • Aug 25

FTRE: Q2 Beat And Delevering Progress Will Support Turnaround Re Rating

Analysts have raised their fair value estimate for Fortrea Holdings to $26 from $20, reflecting updated price targets across the Street that cite recent Q2 results, stronger bookings, and continued balance sheet improvement as key supports. Analyst Commentary Recent commentary on Fortrea Holdings has turned more constructive, with several bullish analysts lifting their price targets following the latest Q2 update and related sector work.
MLAB
US$129.09
Mesa Laboratories
7D
3.5%
1Y
90.5%
New Narrative • Aug 25

Recurring Quality Control Demand And Cost Discipline Will Support Future Earnings Stability

Catalysts About Mesa Laboratories Mesa Laboratories develops and supplies highly regulated quality control tools, consumables, and instruments used in biopharmaceutical, clinical, and industrial applications. What are the underlying business or industry changes driving this perspective?
ILMN
US$215.59
Illumina
7D
-1.7%
1Y
115.7%
Narrative Update • Aug 24

ILMN: Clinical Sequencing And Healthier Sector Spending Are Expected To Sustain A Balanced Outlook

Illumina's updated analyst price target moves to $230, supported by analysts citing stronger recent instrument placements, Q2 results that were generally viewed as solid, and expectations for healthier genomics and diagnostics spending over the coming years. Analyst Commentary Recent research on Illumina points to a more constructive tone from several bullish analysts who have raised price targets following Q2 results, updated guidance, and industry checks.
IQV
US$261.75
IQVIA Holdings
7D
0.7%
1Y
37.2%
Narrative Update • Aug 24

IQV: CRO Recovery And AI Strength Will Support Measured Earnings Reacceleration

The analyst fair value estimate for IQVIA Holdings has moved from $232 to about $275, with analysts tying higher price targets to stronger Q2 results, improving CRO demand, healthy commercial activity, and confidence in the company's technology position and execution. Analyst Commentary Recent Street research around IQVIA Holdings has turned more constructive, with a series of higher fair value targets following the Q2 earnings report.
WAT
US$414.69
Waters
7D
1.0%
1Y
37.4%
BIO
US$387.70
Bio-Rad Laboratories
7D
2.0%
1Y
30.2%
Narrative Update • Aug 20

BIO: Buybacks Will Likely Mask Flat Near‑Term Revenue Trend

Analysts have raised their price target on Bio-Rad Laboratories from $293 to $329, citing updated assumptions on revenue growth, profit margins, and future P/E levels that feed into their valuation models. What’s in the News for Bio-Rad Laboratories Bio-Rad Laboratories issued earnings guidance for the third quarter of 2026, indicating that revenue is expected to be flat compared with the second quarter.
RVTY
US$128.80
Revvity
7D
3.2%
1Y
42.9%
Narrative Update • Aug 20

RVTY: Elevated Multiple And Sector Headwinds Will Challenge 2026 Outlook

Analysts have lifted the fair value estimate for Revvity stock from $90 to $100, pointing to updated price targets in the $115 to $130 range and research that highlights steady sector trends, healthier capital spending, and a higher assumed future P/E multiple, despite more conservative profit margin assumptions. Analyst Commentary on Revvity Recent Street research on Revvity points to a mix of optimism and caution.
MTD
US$1,398.58
Mettler-Toledo International
7D
0.2%
1Y
7.5%
Narrative Update • Aug 15

MTD: Fair Value View Balances Index Removal And Margin Improvement

Analysts have raised their price target for Mettler-Toledo International to $1,468.91 from $1,387.09, citing updated assumptions that include a slightly higher discount rate, modestly adjusted revenue growth expectations, a higher profit margin, and a higher future P/E multiple. What's in the News for Mettler-Toledo International Mettler-Toledo International was removed from the Russell 1000 Dynamic Index, according to a recent index constituent change notice.
WST
US$337.47
West Pharmaceutical Services
7D
-4.4%
1Y
36.7%