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U.S. Clinical Research and Equipment Industry Analysis

UpdatedApr 23, 2026
DataAggregated Company Financials
Companies61
  • 7D-2.8%
  • 3M-19.9%
  • 1Y9.8%
  • YTDn/a

Over the last 7 days, the Clinical Research and Equipment industry has remained flat, although notably Tempus AI gained 11%. As for the the longer term, the industry is up 14% over the past 12 months. 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
Thu, 23 Apr 2026US$593.2bUS$148.1bUS$14.2b33.8x41.9x4x
Sat, 21 Mar 2026US$543.4bUS$147.8bUS$14.0b34.6x38.7x3.7x
Mon, 16 Feb 2026US$589.2bUS$147.7bUS$13.9b35.2x42.5x4x
Wed, 14 Jan 2026US$698.6bUS$145.8bUS$12.4b37.7x56.5x4.8x
Fri, 12 Dec 2025US$665.2bUS$145.8bUS$12.5b36x53.3x4.6x
Sun, 09 Nov 2025US$636.4bUS$145.7bUS$12.2b34.1x52.3x4.4x
Tue, 07 Oct 2025US$634.7bUS$144.3bUS$14.6b32.7x43.6x4.4x
Thu, 04 Sep 2025US$578.0bUS$144.3bUS$14.6b29.1x39.7x4x
Sat, 02 Aug 2025US$557.0bUS$143.7bUS$13.5b31.8x41.2x3.9x
Mon, 30 Jun 2025US$531.7bUS$142.9bUS$9.1b35.7x58.2x3.7x
Wed, 28 May 2025US$494.4bUS$142.8bUS$9.1b32.5x54.4x3.5x
Fri, 25 Apr 2025US$520.7bUS$142.6bUS$10.0b37.4x52x3.7x
Sun, 23 Mar 2025US$596.0bUS$143.0bUS$9.9b38.7x60.2x4.2x
Tue, 18 Feb 2025US$619.7bUS$143.3bUS$10.0b34.4x62x4.3x
Thu, 16 Jan 2025US$678.1bUS$142.4bUS$10.2b43.7x66.4x4.8x
Sat, 14 Dec 2024US$668.1bUS$142.4bUS$10.2b45.5x65.4x4.7x
Mon, 11 Nov 2024US$696.6bUS$142.4bUS$10.3b44.3x67.7x4.9x
Wed, 09 Oct 2024US$728.8bUS$141.8bUS$8.5b36.9x85.8x5.1x
Fri, 06 Sep 2024US$734.8bUS$141.8bUS$8.5b37.3x86.5x5.2x
Sun, 04 Aug 2024US$742.2bUS$140.9bUS$11.3b37.3x65.9x5.3x
Tue, 02 Jul 2024US$680.5bUS$141.3bUS$12.2b38.3x55.9x4.8x
Thu, 30 May 2024US$716.0bUS$141.5bUS$12.4b37.5x57.6x5.1x
Sat, 27 Apr 2024US$709.7bUS$141.6bUS$12.7b39.2x55.8x5x
Mon, 25 Mar 2024US$749.2bUS$142.1bUS$12.8b44.7x58.4x5.3x
Wed, 21 Feb 2024US$714.0bUS$142.2bUS$12.5b42.7x56.9x5x
Fri, 19 Jan 2024US$681.8bUS$153.8bUS$14.2b35.4x48.1x4.4x
Sun, 17 Dec 2023US$684.6bUS$153.7bUS$14.2b37.1x48.1x4.5x
Tue, 14 Nov 2023US$581.9bUS$153.8bUS$14.0b31x41.7x3.8x
Thu, 12 Oct 2023US$646.8bUS$154.6bUS$11.2b33.6x57.7x4.2x
Sat, 09 Sep 2023US$705.6bUS$154.6bUS$11.2b31.6x63x4.6x
Mon, 07 Aug 2023US$725.8bUS$154.7bUS$11.3b30.2x64.5x4.7x
Wed, 05 Jul 2023US$691.6bUS$152.4bUS$12.5b29.6x55.3x4.5x
Fri, 02 Jun 2023US$675.5bUS$152.2bUS$12.5b27.2x54x4.4x
Sun, 30 Apr 2023US$699.4bUS$152.9bUS$9.4b29.2x74.1x4.6x
Price to Earnings Ratio

74.1x


Total Market Cap: US$699.4bTotal 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 42.2x 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 Market1.73%
Healthcare-0.44%
Life Sciences-2.83%
Clinical Research and Equipment-2.83%
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
WAT WatersUS$334.382.5%
+US$803.0m		-0.1%PE51.1x
WST West Pharmaceutical ServicesUS$274.413.0%
+US$569.7m		25.8%PE40x
STVN Stevanato GroupUS$15.565.6%
+US$223.9m		-28.7%PE26x
CRL Charles River Laboratories InternationalUS$184.802.3%
+US$209.2m		69.5%PS2.3x
A Agilent TechnologiesUS$120.470.6%
+US$197.8m		14.7%PE26.4x

Latest News

RGEN
US$124.40
Repligen
7D
-5.7%
1Y
-12.0%
WST
US$274.41
West Pharmaceutical Services
7D
3.0%
1Y
25.8%
DHR
US$184.04
Danaher
7D
-7.1%
1Y
-6.3%

Danaher Q1 2026 Earnings Update

Apr 22
TXG
US$22.83
10x Genomics
7D
-9.9%
1Y
184.8%

TXG: Spatial Consumables Strength Will Offset Instrument Softness In 2026

The analyst price target for 10x Genomics has shifted from about $24 to $32, with analysts pointing to recent target hikes across multiple firms that reflect updated views on product adoption, competitive positioning in single cell, and mixed trends across instrument and consumables demand. Analyst Commentary Recent research shows a cluster of bullish analysts increasing their price targets on 10x Genomics, as well as at least one upgrade, pointing to a more constructive stance on the story.
RVTY
US$94.28
Revvity
7D
1.5%
1Y
0.6%

RVTY: 2026 Tools Recovery Setup Will Face Mixed Execution Debate

The analyst fair value estimate for Revvity has been reset from $105 to $95, as analysts weigh recent target cuts alongside mixed rating changes and revised assumptions for growth, margins, and future P/E multiples. Analyst Commentary Recent Street research on Revvity has sent mixed signals, with several price target adjustments and at least one downgrade alongside an upgrade.
TMO
US$513.98
Thermo Fisher Scientific
7D
-3.3%
1Y
19.1%

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

Apr 20
WAT
US$334.38
Waters
7D
2.5%
1Y
-0.1%

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$39.97
Qiagen
7D
-4.0%
1Y
-10.3%
ILMN
US$130.50
Illumina
7D
-1.3%
1Y
71.1%
BIO
US$300.78
Bio-Rad Laboratories
7D
1.6%
1Y
20.9%
CRL
US$184.80
Charles River Laboratories International
7D
2.3%
1Y
69.5%
IQV
US$175.21
IQVIA Holdings
7D
-1.6%
1Y
19.1%

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.
MEDP
US$508.46
Medpace Holdings
7D
-1.9%
1Y
75.0%

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.
A
US$120.47
Agilent Technologies
7D
0.6%
1Y
14.7%

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.
STVN
US$15.56
Stevanato Group
7D
5.6%
1Y
-28.7%

STVN: Biologics And GLP-1 Exposure Will Support Future Upside Potential

Analysts have trimmed the Stevanato Group fair value estimate from $18.09 to $17.50 after a series of reduced Street price targets, citing updated models post Q4 results, a higher discount rate, slightly softer revenue growth and margin assumptions, and a higher future P/E multiple that still reflects support for the core biologics and GLP-1 exposure. Analyst Commentary Recent Street research has largely centered on resetting expectations after Q4, with several bearish analysts trimming price targets while still recognizing the support from biologics and GLP-1 exposure.
BLFS
US$22.80
BioLife Solutions
7D
7.6%
1Y
-6.4%