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U.S. Life Sciences Industry Analysis

UpdatedJan 27, 2026
DataAggregated Company Financials
Companies62
  • 7D0.6%
  • 3M8.1%
  • 1Y0.1%
  • YTD4.3%

In the last week, the Life Sciences industry is flat overall, with West Pharmaceutical Services standing out by going down 7.1%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 18% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 27 Jan 2026US$693.6bUS$145.8bUS$12.4b35.9x56.1x4.8x
Thu, 25 Dec 2025US$664.7bUS$145.8bUS$12.5b35.3x53.3x4.6x
Sat, 22 Nov 2025US$645.0bUS$145.7bUS$12.2b35.6x52.9x4.4x
Mon, 20 Oct 2025US$627.0bUS$144.3bUS$14.6b33x43.1x4.3x
Wed, 17 Sep 2025US$564.5bUS$144.3bUS$14.6b32.6x38.8x3.9x
Fri, 15 Aug 2025US$581.6bUS$144.2bUS$14.4b29.9x40.4x4x
Sun, 13 Jul 2025US$551.6bUS$142.9bUS$9.1b36.9x60.4x3.9x
Tue, 10 Jun 2025US$518.8bUS$142.9bUS$9.2b35.7x56.6x3.6x
Thu, 08 May 2025US$501.3bUS$142.7bUS$9.6b34.6x52.2x3.5x
Sat, 05 Apr 2025US$545.7bUS$142.5bUS$9.9b33.4x54.9x3.8x
Mon, 03 Mar 2025US$605.3bUS$143.3bUS$9.7b38.1x62.3x4.2x
Wed, 29 Jan 2025US$709.3bUS$142.4bUS$10.2b45.5x69.5x5x
Fri, 27 Dec 2024US$658.4bUS$142.4bUS$10.2b44.8x64.4x4.6x
Sun, 24 Nov 2024US$656.8bUS$142.4bUS$10.4b44.1x63.4x4.6x
Tue, 22 Oct 2024US$736.3bUS$141.8bUS$8.5b37x86.7x5.2x
Thu, 19 Sep 2024US$739.5bUS$141.8bUS$8.5b37.5x87x5.2x
Sat, 17 Aug 2024US$737.8bUS$141.5bUS$8.4b38.8x88.2x5.2x
Mon, 15 Jul 2024US$685.9bUS$141.2bUS$12.2b40.7x56.2x4.9x
Wed, 12 Jun 2024US$712.9bUS$141.3bUS$12.2b37.4x58.5x5x
Fri, 10 May 2024US$713.4bUS$141.6bUS$12.6b39.3x56.4x5x
Sun, 07 Apr 2024US$727.9bUS$142.1bUS$12.8b43.1x56.9x5.1x
Tue, 05 Mar 2024US$747.1bUS$142.2bUS$12.8b44.5x58.3x5.3x
Thu, 01 Feb 2024US$719.4bUS$148.2bUS$12.5b38.4x57.6x4.9x
Sat, 30 Dec 2023US$706.1bUS$153.8bUS$14.2b37.8x49.6x4.6x
Mon, 27 Nov 2023US$642.9bUS$153.8bUS$14.0b34.7x45.9x4.2x
Wed, 25 Oct 2023US$604.8bUS$154.6bUS$11.2b31.1x54x3.9x
Fri, 22 Sep 2023US$671.1bUS$154.6bUS$11.2b31.3x59.9x4.3x
Sun, 20 Aug 2023US$702.8bUS$154.6bUS$11.2b32.5x62.7x4.5x
Tue, 18 Jul 2023US$706.1bUS$155.5bUS$12.7b29.5x55.7x4.5x
Thu, 15 Jun 2023US$690.5bUS$152.4bUS$12.5b29.2x55.2x4.5x
Sat, 13 May 2023US$676.5bUS$152.4bUS$12.7b28.7x53.2x4.4x
Mon, 10 Apr 2023US$719.8bUS$154.6bUS$10.8b30x66.6x4.7x
Wed, 08 Mar 2023US$717.2bUS$154.5bUS$10.9b30.4x65.9x4.6x
Fri, 03 Feb 2023US$780.5bUS$155.8bUS$9.1b32.6x86x5x
Price to Earnings Ratio

86x


Total Market Cap: US$780.5bTotal Earnings: US$9.1bTotal Revenue: US$155.8bTotal Market Cap vs Earnings and Revenue0%0%0%
U.S. Life Sciences Industry Price to Earnings3Y Average 59.4x202420252026
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 56.1x which is lower than its 3-year average PE of 59.4x.
  • 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 industry have grown 11% per year over the last three years.
  • Meanwhile revenues for these companies have declined 2.2% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

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

US Market0.12%
Healthcare1.32%
Life Sciences0.58%
Clinical Research and Equipment0.58%
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
TMO Thermo Fisher ScientificUS$623.910.8%
+US$1.8b		6.8%PE35.7x
IQV IQVIA HoldingsUS$241.043.1%
+US$1.3b		18.5%PE32x
DHR DanaherUS$235.750.6%
+US$1.0b		-4.9%PE47.5x
ICLR ICONUS$187.976.5%
+US$870.5m		-7.0%PE23.9x
ILMN IlluminaUS$152.093.3%
+US$751.8m		13.8%PE33.1x

Latest News

WAT
US$390.09
Waters
7D
1.6%
1Y
-5.7%
QGEN
US$54.22
Qiagen
7D
-2.2%
1Y
10.9%

Qiagen: Takeover Optionality With A High-Quality Consumables Platform

Jan 27
RVTY
US$114.61
Revvity
7D
2.4%
1Y
-8.7%
BRKR
US$47.67
Bruker
7D
-4.4%
1Y
-15.0%
MTD
US$1,425.18
Mettler-Toledo International
7D
1.5%
1Y
5.3%

MTD: Buybacks And Small Acquisitions Will Support Measured Returns Ahead

Analysts have nudged their fair value estimate for Mettler-Toledo International slightly higher to about US$1,504, a modest move they link to small adjustments in the assumed discount rate, revenue growth, profit margin, and future P/E. What's in the News Mettler-Toledo plans to continue using free cash flow primarily for share repurchases and small bolt on acquisitions, with management highlighting recent deals such as the Genie Vortex mixers to expand its life science equipment portfolio, including pipettes, shakers and related products (Key Developments).
STVN
US$16.97
Stevanato Group
7D
-11.2%
1Y
-18.8%

STVN: Large Volume Drug Delivery Collaboration Will Support Stronger Future Cash Flows

Analysts have nudged their price target for Stevanato Group slightly higher to $36.08 from $36.05, citing updated assumptions for revenue growth, profit margins, and future P/E that modestly adjust their long term valuation. What's in the News Datwyler, LTS Device Technologies and Stevanato Group announced a collaboration focused on large volume subcutaneous drug delivery, targeting more convenient on body administration of larger doses for patients, with a joint platform to be presented at Pharmapack in Paris on January 21 to 22, 2026 (Key Developments).
ICLR
US$187.97
ICON
7D
6.5%
1Y
-7.0%

ICLR: Mixed Margin And Cancellation Signals Will Shape Fairly Balanced Outlook

The analyst price target for ICON has edged higher by about US$1 to US$206.38, as analysts factor in slightly adjusted assumptions around fair value, discount rate, revenue growth, profit margins, and future P/E after a mix of recent target raises and trims across the Street. Analyst Commentary Recent research on ICON reflects a split view, with some on the Street lifting targets while others are turning more cautious as they reassess growth, margins, and contract visibility heading into 2026.
WST
US$240.53
West Pharmaceutical Services
7D
-4.0%
1Y
-29.9%

WST: 2026 Drug Delivery Focus And New Syringe Platform Will Support Earnings Power

Analysts have kept their fair value estimate for West Pharmaceutical Services steady at about $345.71 per share, with only slight tweaks to assumptions like the discount rate, long term revenue growth, profit margin, and future P/E, which together feed into their updated price target narrative. What's in the News West Pharmaceutical Services agreed to sell all manufacturing and supply rights for its SmartDose 3.5 mL On Body Delivery System, along with associated facilities, to AbbVie for total consideration of US$112.5 million at close, subject to working capital and other adjustments (Key Developments).
TXG
US$21.62
10x Genomics
7D
-2.0%
1Y
45.7%

TXG: ARK Buying And Soft 2026 Outlook Will Restrain Upside Potential

Analysts have nudged their 10x Genomics price target higher to about $18, up from around $17.36. This reflects slightly updated fair value, discount rate, revenue growth, profit margin, and future P/E assumptions, alongside recent Street research that includes an $18 target and continued institutional interest.
TECH
US$68.23
Bio-Techne
7D
-1.9%
1Y
-8.5%

TECH: Multiomic Automation And Buybacks Will Support A Steady Forward Outlook

Narrative Update on Bio-Techne Analysts have nudged their fair value estimate for Bio-Techne to US$70.00 per share from about US$69.17, citing updated assumptions around discount rates, long term revenue growth, profit margins and future P/E expectations. What's in the News Spatial biology brand Lunaphore is partnering with the Wyss Center for Bio and Neuroengineering in Geneva to build an automated workflow for simultaneous RNA and protein detection in 3D specimens.
TMO
US$623.91
Thermo Fisher Scientific
7D
0.8%
1Y
6.8%

TMO: Raised 2026 Expectations And Policy Risks Will Pressure Future Returns

Narrative Update Overview The analyst price target for Thermo Fisher Scientific has shifted higher, from about US$541 to US$575, as analysts reflect updated assumptions for slightly faster revenue growth, stronger profit margins, and a lower future P/E multiple, supported by a series of price target increases across recent Street research. Analyst Commentary Recent Street research on Thermo Fisher Scientific has centered on refreshed models out to 2026, with several firms lifting price targets into a US$650 to US$700 range and maintaining positive ratings.
AVTR
US$11.65
Avantor
7D
-1.7%
1Y
-48.1%

AVTR: Share Repurchases And Execution Risks Will Shape Turnaround Visibility

Analysts have trimmed their price target on Avantor by about $0.60, reflecting more cautious assumptions on revenue growth and future P/E. This is partly offset by slightly higher profit margin expectations and a marginally lower discount rate.
ILMN
US$152.09
Illumina
7D
3.3%
1Y
13.8%

ILMN: Future Returns Will Depend On China Recovery And Execution Through 2026

Analysts have raised their implied fair value for Illumina by about $12 to approximately $132 per share, reflecting updated views on revenue growth, profit margins and future P/E multiples, supported by a series of recent price target increases across the Street. Analyst Commentary Recent research updates cluster around higher price targets and mixed views on how reliably Illumina can deliver against those expectations.
IQV
US$241.04
IQVIA Holdings
7D
3.1%
1Y
18.5%

IQV: Stronger Demand Visibility And Pipeline Clarity Will Support Cleaner Earnings By 2026

Analysts have lifted their fair value estimate for IQVIA Holdings to $290 from $273. This reflects higher Street price targets and views that demand visibility, pipeline clarity, and modest margin expansion support a slightly richer assumed future P/E multiple and refined growth and discount rate inputs.
BIO
US$297.71
Bio-Rad Laboratories
7D
-4.8%
1Y
-18.9%

BIO: Share Buybacks And Oncology Assay Partnership Will Drive Future Upside

Analysts have kept their price target for Bio-Rad Laboratories broadly steady at about US$375.00, reflecting only slight adjustments to modeled discount rate, revenue growth, profit margin, and future P/E assumptions in their updated views. What's in the News From July 1, 2025 to September 30, 2025, Bio-Rad repurchased 212,578 shares, about 0.79% of its shares, for US$52.83 million under its existing buyback program.
DHR
US$235.75
Danaher
7D
0.6%
1Y
-4.9%

DHR: Share Repurchases And Soft 2026 Outlook Will Support Premium Multiple

Analysts have nudged their price targets on Danaher higher, reflected in a fair value update from US$259.23 to US$261.50, citing refreshed views on revenue growth, profit margins, and future P/E expectations in recent research. Analyst Commentary Recent price target moves on Danaher point to refreshed views on how the company could execute on growth plans, manage profitability, and justify its current P/E profile.