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U.S. Clinical Research and Equipment Industry Analysis

UpdatedApr 29, 2026
DataAggregated Company Financials
Companies61
  • 7D-8.5%
  • 3M-21.3%
  • 1Y2.1%
  • YTDn/a

Over the last 7 days, the Clinical Research and Equipment industry has dropped 8.1%, driven by a pullback from Thermo Fisher Scientific of 10%. In contrast, West Pharmaceutical Services has gained 6.3%. Over the past 12 months, the industry was up 4.3%. 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, 29 Apr 2026US$547.8bUS$149.0bUS$14.4b30.7x38.2x3.7x
Fri, 27 Mar 2026US$552.1bUS$147.8bUS$14.0b36.2x39.3x3.7x
Sun, 22 Feb 2026US$592.1bUS$147.7bUS$13.8b33.8x42.8x4x
Tue, 20 Jan 2026US$693.3bUS$145.8bUS$12.4b36.8x56.1x4.8x
Thu, 18 Dec 2025US$648.3bUS$145.8bUS$12.5b34.6x52x4.4x
Sat, 15 Nov 2025US$651.1bUS$145.7bUS$12.2b34.8x53.6x4.5x
Mon, 13 Oct 2025US$609.0bUS$144.3bUS$14.6b31.7x41.8x4.2x
Wed, 10 Sep 2025US$571.9bUS$144.3bUS$14.6b29.3x39.3x4x
Fri, 08 Aug 2025US$539.1bUS$144.1bUS$13.0b28.4x41.4x3.7x
Sun, 06 Jul 2025US$548.4bUS$142.9bUS$9.1b36.4x60.1x3.8x
Tue, 03 Jun 2025US$504.6bUS$142.9bUS$9.2b33.9x55x3.5x
Thu, 01 May 2025US$523.9bUS$142.5bUS$10.0b37.9x52.4x3.7x
Sat, 29 Mar 2025US$587.2bUS$142.5bUS$10.0b37.7x59x4.1x
Mon, 24 Feb 2025US$619.6bUS$143.3bUS$9.7b38.8x63.8x4.3x
Wed, 22 Jan 2025US$681.4bUS$142.4bUS$10.2b44.8x66.8x4.8x
Fri, 20 Dec 2024US$644.4bUS$142.4bUS$10.2b43.6x63x4.5x
Sun, 17 Nov 2024US$638.7bUS$142.4bUS$10.4b41.8x61.6x4.5x
Tue, 15 Oct 2024US$731.7bUS$141.8bUS$8.5b37.7x86.1x5.2x
Thu, 12 Sep 2024US$738.4bUS$141.8bUS$8.5b38x86.9x5.2x
Sat, 10 Aug 2024US$730.9bUS$141.5bUS$8.4b38.2x86.7x5.2x
Mon, 08 Jul 2024US$664.6bUS$141.3bUS$12.2b38.8x54.6x4.7x
Wed, 05 Jun 2024US$706.0bUS$141.3bUS$12.4b38.5x56.8x5x
Fri, 03 May 2024US$713.5bUS$141.7bUS$12.6b38.7x56.5x5x
Sun, 31 Mar 2024US$744.3bUS$142.1bUS$12.8b44x58.2x5.2x
Tue, 27 Feb 2024US$728.3bUS$142.1bUS$12.4b43.9x58.7x5.1x
Thu, 25 Jan 2024US$695.8bUS$153.8bUS$14.2b35x49.1x4.5x
Sat, 23 Dec 2023US$698.9bUS$153.8bUS$14.2b37.5x49.1x4.5x
Mon, 20 Nov 2023US$610.6bUS$153.9bUS$13.9b33.5x43.9x4x
Wed, 18 Oct 2023US$635.5bUS$154.6bUS$11.2b33.2x56.7x4.1x
Fri, 15 Sep 2023US$692.7bUS$154.6bUS$11.2b33.3x61.8x4.5x
Sun, 13 Aug 2023US$725.3bUS$154.7bUS$11.5b32x63.1x4.7x
Tue, 11 Jul 2023US$692.1bUS$152.4bUS$12.5b29.6x55.3x4.5x
Thu, 08 Jun 2023US$682.6bUS$152.4bUS$12.5b29.2x54.6x4.5x
Sat, 06 May 2023US$702.8bUS$152.4bUS$12.9b30.5x54.6x4.6x
Price to Earnings Ratio

54.6x


Total Market Cap: US$702.8bTotal Earnings: US$12.9bTotal Revenue: US$152.4bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Clinical Research and Equipment Industry Price to Earnings3Y Average 57x202420252026
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 38.0x which is lower than its 3-year average PE of 57.0x.
  • 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 3.7% 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 Market-0.028%
Healthcare-1.78%
Life Sciences-8.51%
Clinical Research and Equipment-8.51%
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$292.136.3%
+US$852.5m		36.9%PE38x
STVN Stevanato GroupUS$16.215.6%
+US$234.8m		-22.8%PE27x
ALMR Alamar BiosciencesUS$26.1112.4%
+US$196.4m		n/aPS24x
CDXS CodexisUS$2.8214.2%
+US$31.8m		22.6%PS3.6x
FTRE Fortrea HoldingsUS$10.762.5%
+US$24.3m		72.7%PS0.4x

Latest News

QGEN
US$34.02
Qiagen
7D
-15.2%
1Y
-24.2%
A
US$114.87
Agilent Technologies
7D
-5.9%
1Y
6.9%
FTRE
US$10.76
Fortrea Holdings
7D
2.5%
1Y
72.7%
WST
US$292.13
West Pharmaceutical Services
7D
6.3%
1Y
36.9%

WST: Higher Margin Mix And Contract Services Expansion Will Support Earnings Power

Analysts have lifted the implied fair value estimate for West Pharmaceutical Services by about $11 to roughly $350, as a series of recent price target changes reflect updated assumptions around growth, margins and P/E multiples. Analyst Commentary Recent Street research on West Pharmaceutical Services shows a mix of upbeat and cautious messages as analysts recalibrate their models and price targets around updated assumptions for growth, margins and P/E multiples.
MTD
US$1,262.48
Mettler-Toledo International
7D
-4.7%
1Y
18.5%

MTD: Ongoing Buybacks And 2026 Sales Outlook Will Drive Future Upside

Analysts have reduced their price target for Mettler-Toledo International by about $10. This change reflects slightly updated assumptions for fair value, discount rate, revenue growth and future P/E, while projected profit margins are expected to remain broadly similar.
MEDP
US$409.65
Medpace Holdings
7D
-20.4%
1Y
33.7%

Medpace Holdings, Inc. Just Beat EPS By 10%: Here's What Analysts Think Will Happen Next

Apr 26
Medpace Holdings, Inc. Just Beat EPS By 10%: Here's What Analysts Think Will Happen Next
CDXS
US$2.82
Codexis
7D
14.2%
1Y
22.6%
STVN
US$16.21
Stevanato Group
7D
5.6%
1Y
-22.8%
TMO
US$470.22
Thermo Fisher Scientific
7D
-10.4%
1Y
10.0%
QTRX
US$3.34
Quanterix
7D
3.7%
1Y
-44.8%
DHR
US$178.98
Danaher
7D
-8.0%
1Y
-10.0%

Danaher Q1 2026 Earnings Update

Apr 22
ABCL
US$4.16
AbCellera Biologics
7D
2.0%
1Y
59.4%
ALMR
US$26.11
Alamar Biosciences
7D
12.4%
1Y
n/a

Alamar Biosciences: Looking For An Early Detection

Apr 19
WAT
US$300.73
Waters
7D
-10.3%
1Y
-11.8%

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$158.98
IQVIA Holdings
7D
-9.5%
1Y
3.6%

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.
ATLN
US$2.08
Atlantic International
7D
4.5%
1Y
-26.2%