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U.S. Life Sciences Industry Analysis

UpdatedMar 10, 2026
DataAggregated Company Financials
Companies63
  • 7D-1.7%
  • 3M-12.9%
  • 1Y-4.2%
  • YTD-15.1%

Over the last 7 days, the Life Sciences industry has dropped 5.1%, driven by Danaher declining 3.5%. Overall the industry is down 7.6% in 12 months. As for the next few years, earnings are expected to grow by 15% per annum.

Industry Valuation and Performance

Has the U.S. Life Sciences Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 10 Mar 2026US$569.0bUS$147.8bUS$14.0b34.7x40.7x3.8x
Thu, 05 Feb 2026US$637.6bUS$146.9bUS$12.6b36.5x50.6x4.3x
Sat, 03 Jan 2026US$658.8bUS$145.8bUS$12.4b36.1x53.3x4.5x
Mon, 01 Dec 2025US$678.1bUS$145.8bUS$12.5b37x54.4x4.7x
Wed, 29 Oct 2025US$656.2bUS$145.3bUS$14.4b32.8x45.5x4.5x
Fri, 26 Sep 2025US$556.8bUS$144.3bUS$14.6b29.8x38.3x3.9x
Sun, 24 Aug 2025US$593.8bUS$144.1bUS$14.5b29.6x41x4.1x
Tue, 22 Jul 2025US$520.6bUS$142.9bUS$9.1b34x57x3.6x
Thu, 19 Jun 2025US$515.8bUS$142.9bUS$9.2b35.2x56.3x3.6x
Sat, 17 May 2025US$508.3bUS$142.7bUS$9.1b33.3x55.9x3.6x
Mon, 14 Apr 2025US$513.8bUS$142.6bUS$10.0b34.6x51.6x3.6x
Wed, 12 Mar 2025US$598.7bUS$143.1bUS$9.8b41.3x61.4x4.2x
Fri, 07 Feb 2025US$676.5bUS$143.2bUS$10.3b39.2x65.4x4.7x
Sun, 05 Jan 2025US$665.5bUS$142.4bUS$10.2b43.1x65.2x4.7x
Tue, 03 Dec 2024US$672.6bUS$142.4bUS$10.2b44.9x65.7x4.7x
Thu, 31 Oct 2024US$675.3bUS$142.0bUS$8.3b38.2x81.1x4.8x
Sat, 28 Sep 2024US$750.4bUS$141.8bUS$8.5b40.1x88.3x5.3x
Mon, 26 Aug 2024US$743.2bUS$141.8bUS$8.5b37.4x87.8x5.2x
Wed, 24 Jul 2024US$690.3bUS$141.3bUS$12.3b39.7x56.1x4.9x
Fri, 21 Jun 2024US$696.9bUS$141.3bUS$12.2b38.2x57.2x4.9x
Sun, 19 May 2024US$740.9bUS$141.5bUS$12.4b38.1x59.6x5.2x
Tue, 16 Apr 2024US$711.1bUS$142.0bUS$12.8b42.3x55.6x5x
Thu, 14 Mar 2024US$753.6bUS$142.1bUS$12.8b44.9x58.7x5.3x
Sat, 10 Feb 2024US$708.4bUS$141.9bUS$12.7b39.7x55.7x5x
Mon, 08 Jan 2024US$684.7bUS$153.9bUS$14.2b36.1x48.3x4.5x
Wed, 06 Dec 2023US$651.0bUS$153.7bUS$14.0b35x46.5x4.2x
Fri, 03 Nov 2023US$568.8bUS$154.0bUS$11.1b30.4x51x3.7x
Sun, 01 Oct 2023US$672.6bUS$154.6bUS$11.2b33.3x60x4.4x
Tue, 29 Aug 2023US$712.7bUS$154.6bUS$11.2b32.9x63.6x4.6x
Thu, 27 Jul 2023US$753.5bUS$154.8bUS$11.8b30.4x63.6x4.9x
Sat, 24 Jun 2023US$690.9bUS$152.4bUS$12.5b29.3x55.3x4.5x
Mon, 22 May 2023US$683.1bUS$152.1bUS$12.5b29x54.8x4.5x
Wed, 19 Apr 2023US$737.9bUS$154.6bUS$10.8b30.3x68.3x4.8x
Fri, 17 Mar 2023US$716.3bUS$154.5bUS$10.9b28.4x66x4.6x
Price to Earnings Ratio

66x


Total Market Cap: US$716.3bTotal Earnings: US$10.9bTotal Revenue: US$154.5bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Life Sciences Industry Price to Earnings3Y Average 58.2x202420252026
Current Industry PE
  • Investors are pessimistic on the American Life Sciences 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 40.7x which is lower than its 3-year average PE of 58.2x.
  • The 3-year average PS ratio of 4.5x is higher than the industry's current PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Life Sciences industry have grown 8.8% 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 Trends

Which industries have driven the changes within the U.S. Healthcare industry?

US Market-1.50%
Healthcare-2.51%
Life Sciences-1.67%
Clinical Research and Equipment-1.67%
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
IQV IQVIA HoldingsUS$178.552.5%
+US$718.5m		-5.4%PE22x
MEDP Medpace HoldingsUS$478.544.6%
+US$598.0m		41.8%PE30.1x
TMO Thermo Fisher ScientificUS$509.970.3%
+US$516.4m		-3.2%PE28.3x
RGEN RepligenUS$127.892.3%
+US$164.5m		-6.6%PE147.3x
ICLR ICONUS$110.031.6%
+US$134.4m		-39.8%PE14x

Latest News

A
US$116.64
Agilent Technologies
7D
-1.3%
1Y
-4.3%
RVTY
US$92.11
Revvity
7D
-3.6%
1Y
-22.1%

RVTY: 2026 Tools Demand And China Recovery Will Support Higher Earnings Power

Revvity's analyst price target edges higher from $114.63 to $119.56 as analysts factor in updated assumptions around discount rates, modestly slower revenue growth and slightly lower profit margins, along with a higher future P/E multiple supported by a series of recent target raises from Baird, TD Cowen, Evercore ISI, Barclays and Jefferies. Analyst Commentary Bullish analysts have been lifting their price targets in a fairly tight range, which points to a shared view that Revvity's risk or return profile has shifted enough to justify higher valuation assumptions, even as they factor in tempered expectations for revenue growth and margins.
OABI
US$1.95
OmniAb
7D
10.8%
1Y
-40.0%

OABI: New Discovery Platform And Guidance Will Support Long Term Upside Potential

Analysts have modestly revised their price target on OmniAb, reflecting updated assumptions around long term revenue growth, profit margins, and future P/E expectations. Specific dollar values for the target change have not been disclosed.
TECH
US$54.87
Bio-Techne
7D
-5.1%
1Y
-12.8%

TECH: Multiomic Platform Expansion Will Support Higher Future Earnings Multiple

Analysts have raised their price target for Bio-Techne to $65.41 from $61.03, citing updated assumptions for revenue growth, profit margins and a higher future P/E multiple. What's in the News The Ella benchtop immunoassay platform received CE-IVD marking, making it available for clinical use in the European Union and positioning it as an option for in-house test development, clinical trials, and other translational activities (Key Developments).
STVN
US$15.58
Stevanato Group
7D
3.2%
1Y
-31.1%
TMO
US$509.97
Thermo Fisher Scientific
7D
0.3%
1Y
-3.2%

TMO: 2026 Tools Recovery And AI Use In Labs Will Support Upside

Analysts have raised their consolidated price target for Thermo Fisher Scientific by about $25, citing updated expectations for steady mid single digit organic growth into 2026, modestly higher profit margins and a slightly lower future P/E multiple. Analyst Commentary Recent street research points to a cluster of higher price targets for Thermo Fisher Scientific, with several bullish analysts updating their models to reflect expectations for mid single digit organic growth into 2026, slightly stronger margins and an adjusted P/E framework.
AVTR
US$8.15
Avantor
7D
-7.5%
1Y
-52.8%

AVTR: Reset Expectations And Buybacks Will Support Future Upside Potential

Analysts have cut their average price target on Avantor by a few dollars to reflect lower fair value estimates, softer assumed revenue growth and profit margins, and a higher future P/E multiple in light of recent broad target reductions from firms across the Street. Several have moved targets in a $2 to $4 range, and one reset its view from $14 to $12.
DHR
US$198.80
Danaher
7D
-3.5%
1Y
-3.1%

DHR: Masimo Cash Deal Will Support Re Rating And Premium Multiple

The analyst price target for Danaher has moved higher by a mid single digit dollar amount, reflecting updated assumptions for slightly stronger revenue growth and margins, alongside recent Street research that raised targets following the Masimo acquisition announcement and sector wide target adjustments. Analyst Commentary Recent Street research around Danaher reflects a mix of optimism on the Masimo acquisition and valuation, alongside a more cautious stance on deal terms and execution risk.
IQV
US$178.55
IQVIA Holdings
7D
2.5%
1Y
-5.4%

IQV: Future Returns Will Balance Trial Upside With AI And Execution Risks

Analysts have trimmed their fair value estimate for IQVIA Holdings from about $223 to roughly $186, reflecting a shift to a lower assumed future P/E multiple and a slightly higher discount rate. They still see upside potential based on expected clinical trial activity and the company's data analytics capabilities.
ILMN
US$124.28
Illumina
7D
-6.5%
1Y
44.6%

ILMN: Policy And Execution Risks Will Likely Limit Benefits From Supportive Consumables Pricing

Illumina's analyst price targets have seen a modest upward reset, with a slightly higher fair value estimate of $88.35. This is supported by Street research that highlights firmer competitive pricing in sequencing consumables and a range of recent target revisions tied to updated views on growth, margins, discount rates, and future P/E assumptions.
MEDP
US$478.54
Medpace Holdings
7D
4.6%
1Y
41.8%

MEDP: Efficiency And Biotech Exposure Will Support Margin Strength Going Forward

Analysts have lifted their implied fair value estimate for Medpace Holdings to $582 from $510, citing the company's efficiency as a contract research organization, stronger profit margin assumptions at 17.94%, and a higher future P/E of about 29.35x as key supports for the updated price targets across recent research. Analyst Commentary Recent research coverage has highlighted a generally constructive tone around Medpace, with several bullish analysts pointing to efficiency, exposure to biopharma clients, and margin profile as key parts of the equity story.
RGEN
US$127.89
Repligen
7D
2.3%
1Y
-6.6%
QGEN
US$43.33
Qiagen
7D
-11.3%
1Y
5.8%

QGEN: Possible Sale And Fresh Takeover Interest Will Drive Future Upside

Analysts have raised their blended price target for Qiagen by about $0.63 to $55.23. This reflects updated views on slightly different revenue growth, profit margin and future P/E assumptions after a mix of recent target increases and reductions across the Street.
MTD
US$1,248.62
Mettler-Toledo International
7D
-5.8%
1Y
-3.5%

MTD: Buybacks And 2026 Sales Outlook Will Support Balanced Return Prospects

Analysts have maintained their $1,501 fair value estimate for Mettler-Toledo International while slightly adjusting underlying assumptions such as the discount rate, revenue growth, profit margin and future P/E. These changes reflect updated views on the company’s risk profile and earnings power without altering the overall price target.
ICLR
US$110.03
ICON
7D
1.6%
1Y
-39.8%

ICLR: Oncology Expansion And Accounting Overhang Are Expected To Reset Sentiment

Analysts have lowered their average price target on ICON from about $206 to roughly $155 as they factor in the ongoing internal accounting investigation, modestly softer growth and margin assumptions, a slightly higher discount rate, and a reduced future P/E multiple, even as some describe the recent share price weakness as creating a more compelling entry point. Analyst Commentary Recent research on ICON reflects a split view, with some analysts turning more constructive after the share price pullback while others remain cautious given the internal accounting investigation and softer growth and margin assumptions.
ATLN
US$3.37
Atlantic International
7D
12.7%
1Y
-30.8%