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U.S. Clinical Research and Equipment Industry Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies61
  • 7D-0.001%
  • 3M-18.1%
  • 1Y14.0%
  • YTDn/a

In the last week, the Clinical Research and Equipment industry is up 2.8%, with Thermo Fisher Scientific up 2.3%. This means that the industry has gained 18% over the past year. Looking forward, earnings are forecast to grow by 16% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Apr 2026US$596.7bUS$148.1bUS$14.2b37.5x42.2x4x
Fri, 20 Mar 2026US$541.3bUS$147.8bUS$14.0b35.1x38.6x3.7x
Sun, 15 Feb 2026US$589.2bUS$147.7bUS$13.9b35.2x42.5x4x
Tue, 13 Jan 2026US$700.7bUS$145.8bUS$12.4b36.8x56.7x4.8x
Thu, 11 Dec 2025US$651.8bUS$145.8bUS$12.5b34.6x52.2x4.5x
Sat, 08 Nov 2025US$635.4bUS$145.7bUS$12.2b34.1x52.2x4.4x
Mon, 06 Oct 2025US$634.9bUS$144.3bUS$14.6b31.2x43.6x4.4x
Wed, 03 Sep 2025US$584.9bUS$144.3bUS$14.6b29.1x40.2x4.1x
Fri, 01 Aug 2025US$574.7bUS$143.7bUS$8.8b36.2x65.2x4x
Sun, 29 Jun 2025US$531.7bUS$142.9bUS$9.1b35.7x58.2x3.7x
Tue, 27 May 2025US$494.4bUS$142.8bUS$9.1b31.6x54.4x3.5x
Thu, 24 Apr 2025US$514.8bUS$142.6bUS$10.0b37.3x51.4x3.6x
Sat, 22 Mar 2025US$592.7bUS$143.0bUS$9.9b38.7x59.9x4.1x
Mon, 17 Feb 2025US$619.7bUS$143.3bUS$10.0b34.4x62x4.3x
Wed, 15 Jan 2025US$678.1bUS$142.4bUS$10.2b43.6x66.5x4.8x
Fri, 13 Dec 2024US$672.5bUS$142.4bUS$10.2b45.6x65.8x4.7x
Sun, 10 Nov 2024US$696.6bUS$142.4bUS$10.3b44.3x67.7x4.9x
Tue, 08 Oct 2024US$733.8bUS$141.8bUS$8.5b37.4x86.4x5.2x
Thu, 05 Sep 2024US$734.2bUS$141.8bUS$8.5b37.6x86.4x5.2x
Sat, 03 Aug 2024US$755.1bUS$140.9bUS$11.3b37.3x67.1x5.4x
Mon, 01 Jul 2024US$680.5bUS$141.3bUS$12.2b37.9x55.9x4.8x
Wed, 29 May 2024US$726.8bUS$141.5bUS$12.4b38.7x58.5x5.1x
Fri, 26 Apr 2024US$707.2bUS$141.7bUS$12.8b38.6x55.4x5x
Sun, 24 Mar 2024US$749.2bUS$142.1bUS$12.8b44.7x58.4x5.3x
Tue, 20 Feb 2024US$720.7bUS$142.2bUS$12.5b43.3x57.5x5.1x
Thu, 18 Jan 2024US$675.0bUS$153.8bUS$14.2b35.1x47.6x4.4x
Sat, 16 Dec 2023US$684.6bUS$153.7bUS$14.2b37.1x48.1x4.5x
Mon, 13 Nov 2023US$585.8bUS$153.8bUS$14.0b30.9x42x3.8x
Wed, 11 Oct 2023US$649.2bUS$154.6bUS$11.2b33.4x57.9x4.2x
Fri, 08 Sep 2023US$705.5bUS$154.6bUS$11.2b32x63x4.6x
Sun, 06 Aug 2023US$724.6bUS$154.7bUS$11.3b30.2x64.4x4.7x
Tue, 04 Jul 2023US$691.6bUS$152.4bUS$12.5b29.6x55.3x4.5x
Thu, 01 Jun 2023US$666.2bUS$152.2bUS$12.5b27.2x53.3x4.4x
Sat, 29 Apr 2023US$699.2bUS$152.9bUS$9.4b29.2x74.1x4.6x
Price to Earnings Ratio

74.1x


Total Market Cap: US$699.2bTotal 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 57.2x202420252026
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 42.3x which is lower than its 3-year average PE of 57.2x.
  • The industry is trading close to its 3-year average PS ratio of 4.5x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences Tools and Services industry have grown 14% 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 Market1.31%
Healthcare-1.38%
Life Sciences-0.00096%
Clinical Research and Equipment-0.00096%
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
TEM Tempus AIUS$55.1511.3%
+US$1.0b		27.6%PS7.8x
WST West Pharmaceutical ServicesUS$274.722.5%
+US$489.0m		27.7%PE40.1x
A Agilent TechnologiesUS$122.091.4%
+US$480.4m		18.8%PE26.7x
WAT WatersUS$335.231.3%
+US$417.2m		1.4%PE51.2x
BIO Bio-Rad LaboratoriesUS$305.674.6%
+US$362.8m		24.8%PE10.9x

Latest News

DHR
US$194.54
Danaher
7D
-2.0%
1Y
1.3%
TEM
US$55.15
Tempus AI
7D
11.3%
1Y
27.6%
TXG
US$22.97
10x Genomics
7D
-7.4%
1Y
188.6%
TMO
US$524.57
Thermo Fisher Scientific
7D
-0.5%
1Y
20.7%

Thermo Fisher: Great Business Still Trading At A Risky Price Before Earnings

Apr 20
WAT
US$335.23
Waters
7D
1.3%
1Y
1.4%

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.
QGEN
US$40.10
Qiagen
7D
-4.0%
1Y
-10.0%
ILMN
US$131.98
Illumina
7D
1.3%
1Y
77.5%
BIO
US$305.67
Bio-Rad Laboratories
7D
4.6%
1Y
24.8%
PSNL
US$6.24
Personalis
7D
-6.6%
1Y
83.0%

PSNL: Higher Spending And 2026 Loss Will Set Up Longer Term Upside Potential

Analysts now converge around a $10 price target for Personalis, reflecting updated views that incorporate expectations for higher outer year operating expenses and a wider 2026 net loss. Analyst Commentary Recent research updates point to a more cautious tone around Personalis, particularly as analysts factor in guidance for higher operating expenses and a wider 2026 net loss.
AVTR
US$8.53
Avantor
7D
4.0%
1Y
-44.2%

AVTR: Expanded Quality Control Capabilities Will Support Execution Turnaround And Future Share Repricing

Analysts have trimmed their average price targets on Avantor, and the updated fair value estimate now stands at about $16.47. This reflects a softer sentiment around the stock as research notes point to share losses, reduced investment, and questions about management's ability to stabilize the business.
CRL
US$183.10
Charles River Laboratories International
7D
2.1%
1Y
71.3%
ADPT
US$14.21
Adaptive Biotechnologies
7D
-2.2%
1Y
102.7%

ADPT: MRD Revenue Outlook And Refreshed Models Will Support Future Cash Flows

Narrative Update on Adaptive Biotechnologies The consensus analyst price target for Adaptive Biotechnologies has moved up by $1, reflecting updated analyst models that incorporate adjusted discount rates, refreshed revenue growth and profit margin assumptions, and a revised, still very large forward P/E framework. Analyst Commentary Recent Street research on Adaptive Biotechnologies centers on modestly higher price targets, with several bullish analysts revising their models at roughly the same time.
MEDP
US$514.90
Medpace Holdings
7D
-1.0%
1Y
82.4%

MEDP: Slower Revenue Assumptions Will Test Rich Multiple And 2026 Execution

Medpace Holdings' analyst-derived fair value has inched up by about $5 to roughly $357, as analysts weigh higher assumed profit margins and a richer future P/E against slower projected revenue growth and a slightly higher discount rate, while incorporating a wave of recent rating upgrades and higher price targets clustered around $419 to $522. Analyst Commentary Recent research on Medpace reflects a mix of upgrades and cautious fine tuning, with several firms lifting ratings while keeping a close eye on valuation, end market trends, and execution risk.
MTD
US$1,324.27
Mettler-Toledo International
7D
-1.3%
1Y
32.0%

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.
WST
US$274.72
West Pharmaceutical Services
7D
2.5%
1Y
27.7%
A
US$122.09
Agilent Technologies
7D
1.4%
1Y
18.8%

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.