Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets. Its Analytical Instruments segment provides instruments, consumables, software, and services for pharmaceutical, biotechnology, academic, government, environmental, and other research and industrial markets, as well as clinical laboratories. The company's Specialty Diagnostics segment offers liquid, ready-to-use, and lyophilized immunodiagnostic reagent kits, as well as calibrators, controls, protein detection assays, and instruments; immunodiagnostics develops, manufactures and markets complete bloodtest systems to support the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases; dehydrated and prepared culture media, collection and transport systems, instrumentation, and consumables; human leukocyte antigen typing and testing for organ transplant market; and healthcare products. Its Laboratory Products and Biopharma Services segment provides laboratory products, research and safety market channel, and pharma services and clinical research. It offers products and services through a direct sales force, customer-service professionals, electronic commerce, and third-party distributors under Thermo Scientific; Applied Biosystems; Invitrogen; Fisher Scientific; Unity Lab Services; and Patheon and PPD. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham, Massachusetts.

Thermo Fisher Scientific looks like a high-quality business, but its current valuation is already noticeably ahead of its fundamental performance. On valuation multiples, the company trades at a premium to the industry: P/E, P/S, P/B, and P/FCF are all about 45–71% above the median, leaving little margin of safety for further multiple expansion. At the same time, these ratios have generally declined from higher levels in recent periods, which suggests some cooling off from overvaluation, but not clear cheapness. The company’s profitability is strong: net and operating margins are above the industry and remain stable, while EBITDA, operating profit, and net income all look resilient. However, gross margin is below the industry median and has been edging lower over the years, indicating pressure on cost of goods sold and limiting the potential for re-rating. ROE, ROA, and ROI do not show acceleration, and ROE is notably below the industry benchmark, so capital efficiency does not look exceptional given the high share price. Liquidity is a concern: the quick ratio and current ratio are below the median and have not improved in recent periods, which reduces investor comfort at the current premium valuation. Debt burden is also higher than the industry average, and long-term debt has increased significantly over the year, so the balance sheet cannot be described as risk-free. On the other hand, revenue, assets, and equity remain substantial and are generally growing, supporting the business’s resilience and scale. Dividend yield is virtually absent, so the stock does not offer an income cushion that could offset the high valuation. Overall, the fundamentals point more to a mature, profitable, and stable company than to an undervalued growth story. For the target price, this implies a moderately negative adjustment: business quality is high, but the premium in valuation multiples and weak liquidity outweigh the strong margins and stable profitability.

Thermo Fisher Scientific Inc

Средний индекс, значительно упал. Оптимистичный взгляд на свои позиции резко сменился на неуверенность.

Medium index, significantly down. An optimistic view of his position suddenly changed to uncertainty.

Слабый индекс, незначительно вырос. Рынок не поддерживает быков.

Weak index, slightly up. The market does not support the bulls.

Слабый индекс, незначительно вырос

TMO remains a profitable and resilient business, but it trades at a high premium to the industry amid weak liquidity and rising debt.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Vanguard Russell 1000 Value (Symbol: VONV) where we have detected an approximate $300.0 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 194,328,299 to 197,028,299). Among the largest underlying components of VONV, in trading today Morgan Stanley (Symbol: MS) is down about 0.1%, Linde PLC (Symbol: LIN) is up about 0.7%, and Thermo Fisher Scientific Inc (Symbol: TMO) is up by about 0.6%. For a complete list of holdings, visit the VONV Holdings page » The chart below shows the one year price performance of VONV, versus its 200 day moving average:
Looking at the chart above, VONV's low point in its 52 week range is $87.52 per share, with $114.08 as the 52 week high point — that compares with a last trade of $112.02. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further VONV Research:

Notable ETF Inflow Detected - VONV, MS, LIN, TMO

Pacific Biosciences of California, Inc. PACB, or PacBio, cut its 2026 revenue outlook as weaker instrument demand and a slower SPRQ-Nx transition offset improving clinical activity. The revision raises the bar for clinical adoption to show that current softness is transitional rather than structural.
Hospitals and testing laboratories are moving toward routine production, but gross-margin recovery is taking longer and cash-flow breakeven has moved to 2028. That leaves execution on consumables utilization and margins as the key near-term test.
PACB’s Revenue Cut Resets Near-Term Expectations
PacBio lowered 2026 revenue guidance to $155-$165 million from $165-$175 million. The new range implies a 3% decline to 3% growth year over year, with consumables expected to remain the main growth driver.
Second-quarter revenues fell 2% to $39 million and missed the Zacks Consensus Estimate by 4.2%. Instrument revenues declined 9.9% to $12.8 million, reflecting lower average selling prices and fewer Vega shipments.
PacBio’s SPRQ-Nx Transition Delays Consumables Upside
SPRQ-Nx lowers the U.S. list price of a 20x HiFi human genome to $345, about 30% below the prior chemistry, and allows SMRT Cells to be reused up to three times. More than one-third of the installed base had enabled the software by June-end.
Near-term utilization is still constrained by customers validating multi-use workflows and working through existing inventory. Management expects the transition to continue through the third quarter before consumables begin scaling more meaningfully toward year-end.
PACB’s Clinical Demand Offers an Offset
Clinical consumable shipments increased 67% in the second quarter, while Europe, the Middle East and Africa (EMEA) revenues rose 52% to $14.4 million. PacBio also shipped 20 Revio systems, up from 15 a year earlier, with most placements going to new customers.
The broader sequencing market remains competitive. Illumina, Inc. ILMN said clinical demand helped drive adoption of its NovaSeq X platform in the second quarter. Thermo Fisher Scientific Inc. TMO continues to expand precision-medicine and multiomics capabilities, underscoring the range of alternatives available to research and clinical customers.
PacBio’s Margin Outlook Shows the Cost of Transition
PacBio reduced its 2026 non-GAAP gross-margin outlook to 35%-37%. The revision reflects about $2.5 million of Vega manufacturing transition costs, elevated compute and memory expenses, a slower SPRQ-Nx adoption curve and lower-priced strategic Revio placements.
Second-quarter non-GAAP gross margin was 36%, down from 38% a year earlier. SPRQ-Nx can improve platform economics over time, but the company first needs higher utilization and a smoother manufacturing transition to support margin recovery.
PACB’s 2028 Breakeven Shift Raises Execution Stakes
PacBio now expects cash-flow breakeven in 2028 instead of by the end of 2027. It expects to finish 2026 with approximately $175-$185 million in cash, while non-GAAP operating expenses are projected to be $215-$220 million.
Cost actions should reduce cash consumption. PacBio expects its restructuring to cut 2027 compensation-related expenses by about $15-$20 million, with another $15-$20 million of annual savings as high-throughput platform development spending declines.
PACB’s Style Scores Keep the Outlook Guarded
The central question is whether rising clinical use and SPRQ-Nx adoption can offset weak research funding, softer instrument economics and delayed margin recovery. Until those trends become more visible in recurring consumables growth, execution remains the key test.
PACB currently carries a Zacks Rank #4 (Sell). Its Value Score of F and VGM Score of F provide limited support, while the Growth Score of D is also weak. The Momentum Score of C is comparatively better, but the combined Rank and Style Score profile keeps the near-term outlook cautious.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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PACB Cuts 2026 Outlook as Clinical Adoption Faces Its Crucial Test

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Dimensional US Marketwide Value ETF (Symbol: DFUV) where we have detected an approximate $125.0 million dollar outflow -- that's a 0.8% decrease week over week (from 278,300,000 to 276,100,000). Among the largest underlying components of DFUV, in trading today Verizon Communications Inc (Symbol: VZ) is up about 0.4%, Thermo Fisher Scientific Inc (Symbol: TMO) is up about 1.1%, and Pfizer Inc (Symbol: PFE) is higher by about 1%. For a complete list of holdings, visit the DFUV Holdings page » The chart below shows the one year price performance of DFUV, versus its 200 day moving average:
Looking at the chart above, DFUV's low point in its 52 week range is $43.56 per share, with $57.89 as the 52 week high point — that compares with a last trade of $57.37. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further DFUV Research:

DFUV, VZ, TMO, PFE: ETF Outflow Alert

Thermo Fisher Scientific Inc. TMO recently unveiled the Thermo Scientific EMPAD G2 detector to help researchers analyze materials in unprecedented detail. This development is expected to bolster the company’s Analytical Instruments segment.
TMO Stock Outlook Following the News
After the announcement, TMO shares dipped slightly by 0.8% last Thursday.
On a positive note, Thermo Fisher has steadily ramped up R&D investments in recent years, fueling new product launches and enhancing its portfolio. We expect the latest development to improve investor sentiment toward TMO stock and support its upward momentum in the near term.
Thermo Fisher has a market capitalization of $233.20 billion. The company’s earnings yield of 4% is well ahead of the industry’s -1.3% yield. It surpassed earnings estimates in each of the trailing four quarters, delivering an average surprise of 4.4%.
About TMO’s EMPAD G2 Detector
EMPAD G2 enables high-speed four-dimensional scanning transmission electron microscopy (4D STEM), an advanced form of electron microscopy. It aims to help researchers capture more information about materials in a single scan, recording both the strongest and weakest signals without sacrificing imaging speed or data quality.
The advanced 4D STEM technology offers faster, more reliable and user-friendly performance, helping researchers accelerate discoveries in semiconductors, energy and advanced materials while supporting the development of technologies with real-world applications.
Performance and Workflow of TMO’s EMPAD G2
EMPAD G2 runs at 10,000 frames per second (0.1 ms/frame), with exceptionally high single-frame dynamic range (>10???), single-electron sensitivity and operation across the full 30–300 kV range. EMPAD G2 supports advanced applications, ranging from strain mapping and differential phase contrast (DPC) to multi-slice electron ptychography for three-dimensional characterization at the atomic scale.
EMPAD G2 is also fully integrated with the user-friendly Thermo Scientific Velox software. Researchers can collect and analyze multiple types of data, including simultaneous 4D STEM and energy-dispersive x-ray spectroscopy (EDS) within a single workflow. This integration helps simplify advanced materials analysis and supports more reliable, repeatable results.
Industry Prospects Favor TMO
Per a QYResearch report, the global 4D STEM market was valued at an estimated $68 million in 2024 and is projected to reach $110 million by 2031, reflecting a CAGR of 6.6% from 2025 to 2031.
As 4D STEM becomes more widely adopted in academic and industrial research, detector performance is becoming increasingly important. Researchers need to capture large volumes of information rapidly while accurately measuring signals ranging from extremely strong to extremely weak. EMPAD G2 is specifically designed to meet these demands, enabling researchers to obtain reliable quantitative information from a single acquisition.
TMO: Another Key Development
Thermo Fisher recently launched Thermo Scientific Orbitrap Isora Mass Spectrometer and Orbitrap Isora Pro Mass Spectrometer, the company’s first Orbitrap instruments with a dedicated isotope ratio analysis mode. Combined with the Thermo Scientific Vanquish Duo UHPLC System and new Isotope Discoverer Software, the instruments form an integrated workflow designed to make molecular-level isotope ratio analysis accessible to more laboratories and researchers worldwide.
TMO Stock Price Performance
In the past year, TMO shares have risen 25.3% against the industry’s 4.1% decline.
TMO’s Zacks Rank and Key Picks
Thermo Fisher currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Globus Medical GMED, Veracyte VCYT and Illumina ILMN.
Globus Medical has an earnings yield of 5.8% against the industry’s negative 1.7% yield. Its earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 27.9%. GMED’s shares have rallied 42.3% against the industry’s 6.3% decline over the past year.
GMED sports a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Veracyte, sporting a Zacks Rank #1 at present, has an earnings yield of 4.6% against the industry’s negative 1.7% yield. Shares of the company have risen 38% against the industry’s 6.3% decline. VCYT’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 41.8%.
Illumina, presently carrying a Zacks Rank #2 (Buy), has an estimated long-term earnings growth rate of 13% compared with the industry’s 23% growth. Its earnings beat estimates in each of the trailing four quarters, the average surprise being 9.7%. ILMN’s shares have rallied 194.6% compared with the industry’s 24.6% growth over the past year.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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This article originally published on Zacks Investment Research (zacks.com).

TMO Stock Could Gain Following the Launch of EMPAD G2 Detector

Avantor, Inc. AVTR is showing clearer signs that its Revival program is improving execution. VWR returned to growth sooner than expected, Bioscience & Medtech Products orders strengthened and management raised its 2026 outlook.
The recovery is not complete. Earnings remain pressured, margins have contracted and the product segment has yet to translate healthier orders into sustained revenue growth. That mix makes AVTR a selective investment case rather than a clear-cut bullish story.
Avantor's Revival Starts to Lift VWR Growth
VWR Distribution & Services posted 1.7% organic growth in the second quarter of 2026, returning to positive growth ahead of management's expectations. Higher volumes and stronger commercial execution were the main drivers.
Avantor strengthened large global customer relationships, accelerated contract onboarding and improved e-commerce activity after relaunching vwr.com. Direct traffic, conversion and daily sales improved as the quarter progressed, showing that Revival initiatives are producing measurable gains.
AVTR's BMP Orders Improve Before Revenue Does
Bioscience & Medtech Products (BMP) remained the weak spot, with organic revenues down 5.6% year over year. Fluid Handling and NuSil declined in the mid-teens, while Research & Specialty Chemicals fell in the mid-single digits.
BMP delivered double-digit order growth and a 1.1 times book-to-bill ratio, with healthy orders across all business units. Management expects organic growth to return in the second half of 2026, but order strength still needs to convert into sustained sales.
Avantor's Margins Keep the Recovery in Check
Second-quarter gross margin fell about 120 basis points to 31.7%. Adjusted operating margin contracted 170 basis points to 13.3%, as lower volumes, unfavorable mix, inflation and higher freight costs pressured profitability.
A revenue recovery will have limited earnings impact without better operating leverage. Thermo Fisher Scientific TMO, which serves laboratory and biopharma workflows through technologies, purchasing channels and pharmaceutical services, is a relevant competitive reference point as Avantor works to strengthen customer retention.
AVTR's 2026 Outlook Improves but Earnings Stay Soft
Avantor raised its 2026 organic revenue growth outlook to negative 0.5% to positive 0.5% and lifted adjusted earnings per share guidance to 80-83 cents. The increase reflects better second-quarter performance and stronger second-half expectations for VWR.
The Zacks model still projects about 0.4% revenue growth for 2026 and a 10.7% decline in adjusted earnings per share. Agilent Technologies A, which supplies instruments, software, consumables and services across life-science, diagnostics and applied markets, provides another useful industry benchmark for Avantor's recovery.
Avantor's Balance Sheet Offers Some Flexibility
Avantor ended the second quarter with about $307 million in cash and total debt of roughly $3.7 billion. Adjusted net leverage stood at 3.3 times, leaving the balance sheet improved but still moderately leveraged.
The company repaid $112.1 million of debt during the quarter and continues to prioritize excess free cash flow for debt reduction. Continued deleveraging can add flexibility, although progress also depends on sustained cash generation.
AVTR's Buy Signal Faces Weak Style Scores
Avantor's operating progress supports a more constructive view, but the evidence remains mixed. VWR is recovering, BMP orders are improving and guidance moved higher, while earnings and margins remain under pressure.
The stock currently carries a Zacks Rank #2 (Buy), a favorable near-term signal. Zacks Style Scores are most supportive at A or B, so AVTR's Value Score of C, Growth Score of D, Momentum Score of F and VGM Score of D do not reinforce the Rank. The split supports a selective stance while the recovery develops.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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Is Avantor a Buy as Revival Progress Faces Persistent Margin Pressure?

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the iShares Russell 1000 Value ETF (Symbol: IWD) where we have detected an approximate $374.6 million dollar outflow -- that's a 0.4% decrease week over week (from 327,150,000 to 325,700,000). Among the largest underlying components of IWD, in trading today Thermo Fisher Scientific Inc (Symbol: TMO) is up about 0.3%, International Business Machines Corp (Symbol: IBM) is up about 0.5%, and Verizon Communications Inc (Symbol: VZ) is higher by about 0.2%. For a complete list of holdings, visit the IWD Holdings page » The chart below shows the one year price performance of IWD, versus its 200 day moving average:
Looking at the chart above, IWD's low point in its 52 week range is $199.13 per share, with $260.19 as the 52 week high point — that compares with a last trade of $257.98. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Further IWD Research:

IWD, TMO, IBM, VZ: ETF Outflow Alert

For Immediate Release
Chicago, IL – August 25 2026 – Zacks.com announces the list of stocks and ETFs featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Amgen Inc. AMGN, Thermo Fisher Scientific Inc. TMO, PepsiCo, Inc. PEP, C&F Financial Corp. CFFI and Acorn Energy, Inc. ACFN.
Here are highlights from Tuesday’s Analyst Blog:
Top Research Reports for Amgen, Thermo Fisher and PepsiCo
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amgen Inc., Thermo Fisher Scientific Inc. and PepsiCo, Inc., as well as two micro-cap stocks C&F Financial Corp. and Acorn Energy, Inc. The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Today's Featured Research Reports
Amgen’s shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the year-to-date period (+37% vs. +12.1%). The company beat second-quarter estimates for both earnings and sales. Key medicines like Evenity, Repatha and Uplizna, as well as newer medicines like Imdelltra, Tavneos and Tezspire, are driving sales, more than offsetting declining revenues from oncology biosimilars and mature products like Enbrel.
New biosimilar launches are also contributing to top-line growth. Furthermore, Amgen has several key pipeline assets, with a primary focus on the obesity candidate, MariTide.
However, price declines and increased competition are hurting sales of some products. Sales of best-selling drugs, Prolia and Xgeva, are declining sharply in 2026 due to biosimilar launches. Recent pipeline setbacks and the upcoming LOE cliff are concerns.
(You can read the full research report on Amgen here >>>)
Shares of Thermo Fisher have outperformed the Zacks Medical - Instruments industry over the year-to-date period (+8.8% vs. -6.3%). The company is gaining from improving customer activity across all end markets, continued share gains and disciplined execution of its growth strategy. Pharma and biotech demand is advancing, led by bioproduction, clinical research and the research and safety channel.
Clario and the filtration and separation business are bolstering the company’s capabilities and supporting revenue synergies. New products, AI-enabled workflows and expanded customer collaboration centers reinforce its competitive position. Management raised its 2026 revenue and adjusted EPS outlook after better-than-expected second-quarter results.
The Zacks Consensus Estimate projects 2026 EPS of $25.12 on revenues of $47.80 billion. Still, macroeconomic uncertainty, currency volatility, acquisition-related leverage and intense competition remain key risks.
(You can read the full research report on Thermo Fisher here >>>)
PepsiCo’s shares have gained +2% over the year-to-date period against the Zacks Beverages - Soft drinks industry’s gain of +20.3%. The company is one of the world's largest food and beverage companies, supported by a diversified portfolio of category-leading brands, broad global distribution and cash generation.
PepsiCo continues to benefit from robust international growth, expanding global volume trends, sustained product innovation and productivity initiatives that support long-term earnings potential. Management also reaffirmed its 2026 guidance, reflecting confidence in the business despite a challenging operating environment.
However, North American demand remains soft, pricing power is moderating, affordability investments and higher input costs continue to pressure margins, and earnings are expected to be weighted toward the fourth quarter of 2026, increasing execution risk. These balanced opportunities and challenges support PEP’s investment view.
(You can read the full research report on PepsiCo here >>>)
Shares of C&F Financial have outperformed the Zacks Banks - Southeast industry over the year-to-date period (+18.6% vs. +14.6%). This microcap company with a market capitalization of $276.20 million has a diversified community banking, mortgage and consumer finance model which supports earnings stability. Loan growth, easing deposit costs and a higher-yielding securities portfolio are strengthening spread income, while mortgage activity broadens fee revenues.
Strong capital and liquidity support expansion and shareholder returns. Growth in western Virginia and a shift toward stronger consumer borrowers may aid longer-term performance. However, loan growth is outpacing deposit growth, increasing reliance on costly borrowings, while falling rates could pressure margins.
Consumer finance faces elevated credit costs and portfolio runoff. Commercial real estate concentration heightens sensitivity to property weakness, and expansion expenses may limit operating leverage if new markets mature slowly. External shocks could also weaken credit demand and borrower health.
(You can read the full research report on C&F Financial here >>>)
Acorn Energy’s shares have gained +24.6% over the year-to-date period against the Zacks Electronics - Miscellaneous Products industry’s gain of +40.6%. This microcap company with a market capitalization of $47.21 million has near-term risks that center on hardware normalization, deployment timing and execution across newer growth channels.
Lower telecom hardware shipments and the run-off of deferred hardware revenue could keep growth volatile, while OMNI360 remains pre-revenue and the Champion partnership provides limited visibility. Customer concentration, installation delays and revenue-mix shifts may also constrain operating leverage. However, the expanding high-margin monitoring base strengthens recurring revenues and visibility as endpoints and renewals grow.
Telecom renewals, Champion, OMNI360, OEM opportunities and product modernization provide multiple avenues for expansion, supported by a debt-free balance sheet and positive cash flow. The valuation appears modest, offering potential upside if recurring revenue growth and commercialization efforts gain traction.
(You can read the full research report on Acorn Energy here >>>)
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights Amgen, Thermo Fisher Scientific, PepsiCo, C&F Financial and Acorn Energy

Monday, August 24, 2026
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amgen Inc. (AMGN), Thermo Fisher Scientific Inc. (TMO) and PepsiCo, Inc. (PEP), as well as two micro-cap stocks C&F Financial Corp. (CFFI) and Acorn Energy, Inc. (ACFN). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.
These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Focus on Mid-Week: NVIDIA Earnings, PCE Report
Today's Featured Research Reports
Amgen’s shares have outperformed the Zacks Medical - Biomedical and Genetics industry over the year-to-date period (+37% vs. +12.1%). The company beat second-quarter estimates for both earnings and sales. Key medicines like Evenity, Repatha and Uplizna, as well as newer medicines like Imdelltra, Tavneos and Tezspire, are driving sales, more than offsetting declining revenues from oncology biosimilars and mature products like Enbrel.
New biosimilar launches are also contributing to top-line growth. Furthermore, Amgen has several key pipeline assets, with a primary focus on the obesity candidate, MariTide.
However, price declines and increased competition are hurting sales of some products. Sales of best-selling drugs, Prolia and Xgeva, are declining sharply in 2026 due to biosimilar launches. Recent pipeline setbacks and the upcoming LOE cliff are concerns.
(You can read the full research report on Amgen here >>>)
Shares of Thermo Fisher have outperformed the Zacks Medical - Instruments industry over the year-to-date period (+8.8% vs. -6.3%). The company is gaining from improving customer activity across all end markets, continued share gains and disciplined execution of its growth strategy. Pharma and biotech demand is advancing, led by bioproduction, clinical research and the research and safety channel.
Clario and the filtration and separation business are bolstering the company’s capabilities and supporting revenue synergies. New products, AI-enabled workflows and expanded customer collaboration centers reinforce its competitive position. Management raised its 2026 revenue and adjusted EPS outlook after better-than-expected second-quarter results.
The Zacks Consensus Estimate projects 2026 EPS of $25.12 on revenues of $47.80 billion. Still, macroeconomic uncertainty, currency volatility, acquisition-related leverage and intense competition remain key risks.
(You can read the full research report on Thermo Fisher here >>>)
PepsiCo’s shares have gained +2% over the year-to-date period against the Zacks Beverages - Soft drinks industry’s gain of +20.3%. The company is one of the world's largest food and beverage companies, supported by a diversified portfolio of category-leading brands, broad global distribution and cash generation.
PepsiCo continues to benefit from robust international growth, expanding global volume trends, sustained product innovation and productivity initiatives that support long-term earnings potential. Management also reaffirmed its 2026 guidance, reflecting confidence in the business despite a challenging operating environment.
However, North American demand remains soft, pricing power is moderating, affordability investments and higher input costs continue to pressure margins, and earnings are expected to be weighted toward the fourth quarter of 2026, increasing execution risk. These balanced opportunities and challenges support PEP’s investment view.
(You can read the full research report on PepsiCo here >>>)
Shares of C&F Financial have outperformed the Zacks Banks - Southeast industry over the year-to-date period (+18.6% vs. +14.6%). This microcap company with a market capitalization of $276.20 million has a diversified community banking, mortgage and consumer finance model which supports earnings stability. Loan growth, easing deposit costs and a higher-yielding securities portfolio are strengthening spread income, while mortgage activity broadens fee revenues.
Strong capital and liquidity support expansion and shareholder returns. Growth in western Virginia and a shift toward stronger consumer borrowers may aid longer-term performance. However, loan growth is outpacing deposit growth, increasing reliance on costly borrowings, while falling rates could pressure margins.
Consumer finance faces elevated credit costs and portfolio runoff. Commercial real estate concentration heightens sensitivity to property weakness, and expansion expenses may limit operating leverage if new markets mature slowly. External shocks could also weaken credit demand and borrower health.
(You can read the full research report on C&F Financial here >>>)
Acorn Energy’s shares have gained +24.6% over the year-to-date period against the Zacks Electronics - Miscellaneous Products industry’s gain of +40.6%. This microcap company with a market capitalization of $47.21 million has near-term risks that center on hardware normalization, deployment timing and execution across newer growth channels.
Lower telecom hardware shipments and the run-off of deferred hardware revenue could keep growth volatile, while OMNI360 remains pre-revenue and the Champion partnership provides limited visibility. Customer concentration, installation delays and revenue-mix shifts may also constrain operating leverage. However, the expanding high-margin monitoring base strengthens recurring revenues and visibility as endpoints and renewals grow.
Telecom renewals, Champion, OMNI360, OEM opportunities and product modernization provide multiple avenues for expansion, supported by a debt-free balance sheet and positive cash flow. The valuation appears modest, offering potential upside if recurring revenue growth and commercialization efforts gain traction.
(You can read the full research report on Acorn Energy here >>>)
Other noteworthy reports we are featuring today include Analog Devices, Inc. (ADI), Arthur J. Gallagher & Co. (AJG) and Sempra (SRE).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
Analog Devices (ADI) Rides on AI Data Center Demand
Per the Zacks analyst, strong AI-related data center demand, higher utilization and favorable product mix are driving Analog Devices' growth momentum.
Improving Fees and Commissions Aid Arthur J. Gallagher (AJG)
Per the Zacks analyst, Arthur J. Gallagher is poised to grow on improving fees and commissions that in turn is driving organic revenues growth. However, rising expenses weighing on margin concerns.
Utility Investments and LNG Expansion Drive Growth at Sempra (SRE)
Per the Zacks analyst, Sempra's utility investments and LNG progress should support growth through 2030. Renewable gains and disciplined spending will aid shareholder returns.
Celestica (CLS) Rides on Strong Demand for AI Networking Products
Per the Zacks analyst, strong demand for 800G and next-gen 1.6T AI networking products is likely to drive Celestica's top line. Growing AI infrastructure investments remain positive.
Yum China (YUMC) Banks on Unit Expansion, High Costs Ail
Per the Zacks analyst, Yum China is likely to benefit from unit expansion, transaction growth and menu innovation. However, higher rider costs and an uncertain macro environment pose concerns.
Powell (POWL) Gains From Strong Utility & Commercial Markets
Per the Zacks analyst, solid momentum across Powell's electric utility and commercial & other industrial markets, fueled by strong orders and healthy levels of project activity, will lend it momentum.
Highwoods Properties (HIW) Gains From Leasing, Leverage Caps Upside
Per the Zacks analyst, Highwoods Properties benefits from Sun Belt demand, lease gains and strong liquidity. However, office competition, disposition dilution and elevated leverage can curb the upside
New Upgrades
PBF Energy (PBF) To Gain From Higher Refinery Utilization
Per the Zacks analyst, PBF Energy is poised to gain from rising refinery utilization as restored Martinez operations and higher planned throughput strengthen production capability across its network.
Expansion Strategies, Decent Liquidity Aid Federated (FHI) Growth
Per the Zacks Analyst, focus on acquiring money market assets will keep aiding Federated's asset under management growth. Decent liquidity position aid capital distribution plan.
Carter's (CRI) Gains from Strong Retail, Global Momentum
Per the Zacks analyst, Carter's is benefiting from solid U.S. Retail trends, strong Mexico growth and improving international profitability, further strengthening its overall operating momentum.
New Downgrades
Gas Price Volatility & Rising Costs to Hurt Comstock Resources (CRK)
Per the Zacks analyst, Comstock's exposure to gas price volatility limits earnings and cash flow visibility. Further, cost risks associated with the Western Haynesville development raise concerns.
Fewer Customers, Partnerships End, Rising Costs Hurt Green Dot (GDOT)
Per the Zacks analyst, consumer softness, heavy dependence on partners and increasing compliance and operating costs are making GDOT shares less attractive to investors.
Bio-Techne (TECH) Muted Growth and Pending Merck Deal Limit Upside
The Zacks analyst is concerned about Bio-Techne's muted Protein Science growth, selective customer spending and margin pressure, while the pending Merck deal limits further upside.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>
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Sempra (SRE) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).

Top Research Reports for Amgen, Thermo Fisher & Pepsi

At Holdings Channel, we have reviewed the latest batch of the 84 most recent 13F filings for the 06/30/2026 reporting period, and noticed that Thermo Fisher Scientific Inc (Symbol: TMO) was held by 25 of these funds. When hedge fund managers appear to be thinking alike, we find it is a good idea to take a closer look.
Before we proceed, it is important to point out that 13F filings do not tell the whole story, because these funds are only required to disclose their long positions with the SEC, but are not required to disclose their short positions. A fund making a bearish bet against a stock by shorting calls, for example, might also be long some amount of stock as they trade around their overall bearish position. This long component could show up in a 13F filing and everyone might assume the fund is bullish, but this tells only part of the story because the bearish/short side of the position is not seen.
Having given that caveat, we believe that looking at groups of 13F filings can be revealing, especially when comparing one holding period to another. Below, let's take a look at the change in TMO positions, for this latest batch of 13F filers:
In terms of shares owned, we count 11 of the above funds having increased existing TMO positions from 03/31/2026 to 06/30/2026, with 11 having decreased their positions and 1 new position.
Looking beyond these particular funds in this one batch of most recent filers, we tallied up the TMO share count in the aggregate among all of the funds which held TMO at the 06/30/2026 reporting period (out of the 8,826 we looked at in total). We then compared that number to the sum total of TMO shares those same funds held back at the 03/31/2026 period, to see how the aggregate share count held by hedge funds has moved for TMO. We found that between these two periods, funds reduced their holdings by 300,018,769 shares in the aggregate, from 330,239,531 down to 30,220,762 for a share count decline of approximately -90.85%. The overall top three funds holding TMO on 06/30/2026 were:
We'll keep following the latest 13F filings by hedge fund managers and bring you interesting stories derived from a look at the aggregate information across groups of managers between filing periods. While looking at individual 13F filings can sometimes be misleading due to the long-only nature of the information, the sum total across groups of funds from one reporting period to another can be a lot more revealing and relevant, providing interesting stock ideas that merit further research, like Thermo Fisher Scientific Inc (Symbol: TMO).
Further TMO Research:

See Which Recent 13F Filers Hold TMO

Shares of Bio-Rad Laboratories BIO have climbed 19.1% in the past month, putting the durability of that momentum in focus. Digital PCR demand and steadier Clinical Diagnostics performance provide support.
Yet Life Science demand remains weak and the stock trades at a sizable valuation premium. Planned cost savings could help margins, but investors must weigh execution against subdued end markets.
BIO's Digital PCR Momentum Supports the Bull Case
Bio-Rad's currency-neutral droplet digital PCR (ddPCR) revenues rose 6% year over year in the second quarter of 2026, while instrument revenues increased more than 20%. Management cited competitive wins and conversions from quantitative PCR. The Stilla portfolio also accelerated revenue growth and delivered margins ahead of management's original expectations.
In the past year, the company’s shares have risen 26.4% against the industry’s 23.1% decline.
Management expects ddPCR to contribute to a mid-single-digit sequential Life Science revenue ramp from the third quarter to the fourth quarter. QIAGEN N.V. QGEN markets its QIAcuity Digital PCR System. Thermo Fisher Scientific Inc. TMO offers the QuantStudio Absolute Q Digital PCR System. Both illustrate the competitive backdrop around digital PCR instruments.
Bio-Rad Diagnostics Adds Recurring Revenue Support
Clinical Diagnostics generated $399 million in second-quarter sales, up 2.6% year over year reported and 0.3% currency-neutral. Quality systems, diabetes products and blood typing drove growth, partly offset by lower infectious disease sales.
Clinical Diagnostics represented 60.5% of Bio-Rad's 2025 revenues. Management expects quality controls and blood typing to contribute to sequential improvement into the fourth quarter, giving BIO a recurring-revenue base that can partly cushion the uneven Life Science cycle.
BIO Still Faces Weak Life Science Demand
Life Science remains the main constraint. Second-quarter sales fell 4.1% reported and 5.1% currency-neutral as academic research demand stayed soft and process chromatography faced a difficult comparison. Excluding process chromatography, currency-neutral revenues were approximately flat.
Management expects full-year 2026 Life Science currency-neutral revenues to decline between 3% and 1%. Academic and government demand remains below historical levels, biopharma stabilization is still early and China declined in the high teens. Those conditions limit visibility into a broader recovery.
Bio-Rad's Valuation Raises the Bar After the Rally
After the rally, valuation leaves less room for execution misses. BIO trades at 40.2X forward 12-month earnings, compared with 17.4X for the Medical-Products sub-industry and its five-year median of 28.8X. The premium raises the importance of sustained operating improvement.
Bio-Rad's restructuring program is expected to deliver $30 million to $35 million of annualized net cost savings after reinvestment and about 40-50 basis points of operating-margin expansion in 2027. Realizing those benefits would help support the premium, while weaker demand could make the multiple harder to defend.
BIO's Mixed Scores Temper the Momentum Case
The 19.1% monthly move has support from digital PCR placements, steadier diagnostics demand and planned cost actions, but the broader picture is mixed. Weak Life Science spending and an elevated valuation keep the momentum case balanced.
BIO currently carries a Zacks Rank #3 (Hold), with a Value Score of C and Growth Score of D, Momentum Score of D and VGM Score of D. Within the Zacks Style Scores, A and B are preferred to C and D, while the Zacks Rank is the primary short-term screen. That mix does not provide the stronger confirmation associated with top-ranked stocks and favorable Style Scores. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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QIAGEN N.V. (QGEN) : Free Stock Analysis Report