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 appears to be a high-quality but already expensive business: profitability and revenue remain strong, but the market is valuing the company at a noticeable premium to the sector. P/E, P/S, P/B, and P/FCF are all materially above the sector median, which limits re-rating potential and makes the current share price sensitive to any slowdown in growth. At the same time, revenue, EBITDA, operating income, and net income trends are generally positive, while net profit margin and operating margin remain at strong levels and are improving slightly. This supports fundamental resilience and justifies a premium to the sector, but not as large as the one currently embedded in the price. On the other hand, ROE, ROA, and ROI are below industry benchmarks and show no acceleration, indicating less-than-ideal capital efficiency. Gross margin is notably below the industry median, and this is an important limiting factor for valuation, despite strong operating margins. Liquidity is acceptable, but the current ratio and quick ratio are below industry levels, while leverage is higher than the median both in terms of long-term debt and debt/equity, which adds caution. Dividend yield is very low and declining, so the dividend factor provides almost no support to the investment case. Positives include growth in assets and equity, as well as a stable cash position, which reduces the risk of financial stress. Overall, the fundamentals support a moderately positive view of the company, but the high valuation already reflects much of the business quality. For an investor, this means there is upside potential, but it is limited by expensive multiples and less-than-ideal efficiency trends, so a cautious downward adjustment to the forecast is warranted.

Thermo Fisher Scientific Inc

Сильный индекс, значительно упал. Быки в растерянности.

Strong index, significantly down. The bulls are confused.

Средний индекс, значительно вырос. Рынок на стороне быков.

Medium index, significantly up. The market is on the bulls' side.

Слабый индекс, незначительно вырос. Приток средств в лонги остается на невысоком уровне.

Weak index, slightly up. The inflow of funds into longs remains at a low level.

TMO has strong revenue and profit, but its valuation is noticeably above the industry, while ROE/ROA and liquidity are weaker; this limits the upside and calls for caution.

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the State Street Health Care Select Sector SPDR ETF (Symbol: XLV) where we have detected an approximate $614.7 million dollar inflow -- that's a 1.4% increase week over week in outstanding units (from 253,365,324 to 257,015,324). Among the largest underlying components of XLV, in trading today AbbVie Inc (Symbol: ABBV) is down about 0.8%, Thermo Fisher Scientific Inc (Symbol: TMO) is down about 1.6%, and Gilead Sciences Inc (Symbol: GILD) is lower by about 1%. For a complete list of holdings, visit the XLV Holdings page » The chart below shows the one year price performance of XLV, versus its 200 day moving average:
Looking at the chart above, XLV's low point in its 52 week range is $141.05 per share, with $176.595 as the 52 week high point — that compares with a last trade of $167.28. 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 XLV Research:

Notable ETF Inflow Detected - XLV, ABBV, TMO, GILD

Biodesix BDSX recently announced strategic progress in two molecular residual disease (MRD) programs to expand access to blood-based cancer monitoring. The company is developing tumor-informed and tumor-naive solutions that detect circulating tumor DNA (ctDNA), with the programs being advanced through collaborations with Bio-Rad Laboratories BIO and Thermo Fisher Scientific TMO.
Per management, the company is pursuing both MRD approaches to combine ultra-sensitive testing with broader patient access. Through collaborations with global partners, Biodesix is developing tumor-informed and tumor-naive assays that can be deployed across laboratories worldwide. Offering both approaches allows the testing strategy to be aligned with specific clinical needs, rather than relying on a single approach, while helping extend MRD testing to more patients beyond centralized laboratory settings.
BDSX Stock Trend Following the News
BDSX stock has lost 1% since the announcement on Thursday. Year to date, the stock skyrocketed 327.9%, outperforming the industry’s 5% growth and the S&P 500’s 12.6% gain.
Biodesix’s expansion into MRD testing could broaden its precision oncology opportunity beyond its existing focus on lung diagnostics. Leveraging established technologies from Bio-Rad Laboratories and Thermo Fisher Scientific could strengthen BDSX’s relevance among oncology-focused laboratories and biopharma customers. Successful validation and commercialization could also enhance the company’s ability to participate in larger diagnostic programs and diversify its revenue base. Upcoming clinical data readouts may provide further visibility into the commercial potential of these initiatives.
BDSX currently has a market capitalization of $307 million.
More on Biodesix’s MRD Programs
Biodesix’s tumor-informed approach profiles a patient’s tumor tissue through its proprietary Diagnostic Cortex bioinformatics platform to identify multiple complex genomic alterations unique to the tumor. Bio-Rad Laboratories’ Droplet Digital PCR technology then tracks these alterations in blood samples by partitioning each blood sample into thousands of reactions to quantify individual tumor molecules. Biodesix’s informatics and analysis workflows can detect ctDNA at levels below 1 part per million of total DNA.
BDSX’s tumor-naive MRD program takes a different approach by detecting methylated ctDNA in blood through rapid next-generation sequencing on Thermo Fisher Scientific’s Genexus platform. Since it identifies methylation patterns rather than tumor-specific mutations, the test does not require tumor tissue. This expands MRD testing to patients whose archived tissue is unavailable or inadequate.
Biodesix has begun developing and validating the tumor-naive assay in its CAP-accredited, CLIA- and NYS CLEP-certified laboratory as part of the Thermo Fisher Center of Excellence Network.
Both MRD approaches will be validated in collaboration with investigators at Memorial Sloan Kettering Cancer Center and are designed to operate on partner platforms already installed in laboratories worldwide. Data supporting both programs are expected to be presented at the AMP 2026 Annual Meeting in November, with additional data planned for the San Antonio Breast Cancer Symposium in December.
Industry Prospects Favoring the Market
Going by the data provided by Grand View Research, the global MRD testing market is estimated to reach $3 billion in 2026 and is projected to expand at a 13.2% CAGR through 2033.
Factors such as the increasing adoption of MRD testing in precision oncology, advances in molecular diagnostics and growing use of MRD assessment in cancer treatment monitoring are supporting market growth.
BDSX’s Zacks Rank & Other Key Pick
Currently, Biodesix carries a Zacks Rank #2 (Buy).
One of the top-ranked stocks from the broader medical space is Veracyte VCYT, currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Veracyte reported a second-quarter 2026 adjusted earnings of 54 cents per share, which surpassed the Zacks Consensus Estimate by 25.6%. Revenues of $150.3 million beat the Zacks Consensus Estimate by 4.1%.
VCYT has an estimated earnings growth rate of 8.4% for 2026. The company’s earnings beat estimates in each of the trailing four quarters, the average surprise being 41.8%.
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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Biodesix Expands MRD Testing With Tumor-Informed and Tumor-Naive Tests

(RTTNews) - Biodesix Inc. (BDSX), a diagnostic solutions company, last week reported strategic progress for two programmes regarding Molecular Residual Disease (MRD) solutions for cancer diagnosis. Biodesix is developing the tests for tumor-informed and tumor-naive MRD using its Diagnostics Cortex bioinformatics platform to identify genomics changes unique to an individual. These approaches detect circulating DNA (ctDNA) specific to the tumor-type being diagnosed. The tumor-informed method is being carried out in conjunction with Bio-Rad Laboratories Inc. (BIO). The test will utilize Bio-Rad's Droplet Digital PCR technology and is the result of a multi-year collaboration between the two companies. The tumor-naive test builds on newly launched, joint research with Thermo Fisher Scientific (TMO). Both programs are hosted at the Memorial Sloan-Kettering Cancer Center (MSK).
BDSX closed Friday at $29.10, down 1.02%.

Biodesix Reveals Two Developing MRD Solution Collaborations With Bio-Rad And Thermo Fisher

Rising demand for precision and personalized medicine has significantly augmented the need for artificial intelligence (AI)-enabled medical devices to deliver highly individualized diagnostics and treatments.
Over the past several months, generative AI in the medical devices industry has moved from experimental to operational use. Applications include generating synthetic medical images, simulating disease progression, creating potential drug molecules and simulating their effects, to accelerate the long and costly drug development process.
Here, we recommend three medical devices stocks with a favorable Zacks Rank to invest in for the rest of 2026. Despite a volatile September, these stocks have provided more than 5% returns in the past month beating the S&P 500 index’s 1.2% return.
These stocks are: Intuitive Surgical Inc. ISRG, Tempus AI Inc. TEM and Thermo Fisher Scientific Inc. TMO. Each of our picks currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The chart below shows the price performance of our three picks in the past month.
Intuitive Surgical Inc.
Intuitive Surgical is increasingly embedding AI and digital tools into its robotic ecosystem. ISRG operates in the robotic surgery market for soft tissue procedures, where adoption is supported by the shift toward minimally invasive care. The company’s platforms include the da Vinci surgical system and the Ion endoluminal system.
ISRG continues to add digital capabilities that can improve training, workflow and hospital program management. The first phase of more than 100 da Vinci 5 updates targets telepresence, simulation-based training and care-team workflow.
ISRG also executed its first My Intuitive+ renewals, covering telepresence, simulation and AI-driven case insights, and no customer in the initial cohort opted out. These tools can increase the utility of the installed base and reinforce customer engagement.
Strong Estimate Revisions
Intuitive Surgical has an expected revenue and earnings growth rate of 16.7% and 20.3%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 2.6% over the last 60 days.
ISRG has an expected revenue and earnings growth rate of 12.5% and 11.6%, respectively, for the next year. The Zacks Consensus Estimate for next year’s earnings has improved 0.1% over the last 30 days.
Tempus AI Inc.
Tempus AI is a technology company advancing precision medicine through the practical application of AI principally in healthcare. TEM provides AI-enabled precision medicine solutions to physicians so that they can deliver personalized patient care, and parallel facilitates for the discovery, development and delivery of optimal therapeutics.
TEM’s AI applications include analyzing patient data, generating clinical notes, identifying care gaps, and assisting with treatment decisions, particularly in oncology and cardiology. TEM integrates data including phenotypic, morphologic, and molecular data from different sources to provide a more comprehensive view of a patient's condition.
Strong Estimate Revisions
Tempus AI has an expected revenue and earnings growth rate of 25.5% and 55.7%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 22.9% over the last 60 days.
TEM has an expected revenue and earnings growth rate of 24.4% and more than 100%, respectively, for the next year. The Zacks Consensus Estimate for next year’s earnings has improved more than 100% over the last 60 days.
Thermo Fisher Scientific Inc.
Thermo Fisher Scientific is expanding AI capabilities across its software portfolio and using AI within its PPI Business System to improve productivity, quality and customer responsiveness. TMO integrates AI into drug development, helping researchers identify and eliminate ineffective drug candidates faster and shorten clinical trial cycle times through its partnership with Open AI.
TMO is also strengthening customer collaboration through its new U.S. Bioprocess Design Center and a precision health partnership in Singapore that combines Olink proteomics with the Orbitrap Astral platform. The commercial engine supports adoption by linking new technologies with a broad customer base and integrated service offering.
Strong Estimate Revisions
Thermo Fisher Scientific has an expected revenue and earnings growth rate of 7.3% and 9.9%, respectively, for the current year. The Zacks Consensus Estimate for the current year’s earnings has improved 0.4% over the last 60 days.
TMO has an expected revenue and earnings growth rate of 5.1% and 9.5%, respectively, for the next year. The Zacks Consensus Estimate for next year’s earnings has improved 0.3% over the last 60 days.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Buy 3 AI-Powered Medical Stocks to Strengthen Your Portfolio in Q4

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 $213.9 million dollar outflow -- that's a 0.3% decrease week over week (from 326,600,000 to 325,750,000). Among the largest underlying components of IWD, in trading today Morgan Stanley (Symbol: MS) is up about 1.1%, Thermo Fisher Scientific Inc (Symbol: TMO) is down about 0.1%, and Linde PLC (Symbol: LIN) is lower by about 0.5%. 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 $199.40 per share, with $260.19 as the 52 week high point — that compares with a last trade of $252.93. 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, MS, TMO, LIN: Large Outflows Detected at ETF

Last Friday, the three benchmark stock indexes on Wall Street closed a mixed week. The Nasdaq Composite climbed 0.72%, helped by strength in semiconductor stocks, while the S&P 500 edged down 0.1%. The Dow Jones Industrial Average bore the brunt of the selling, falling 1.69% – its worst weekly decline since March.
Investor focus remained firmly on inflation and monetary policy. Benchmark U.S. Treasury yields moved above 5%, raising concerns about tighter financial conditions, while crude oil prices stayed above $100 per barrel. The combination kept inflation risks prominent and added pressure to equities.
Markets also digested the Fed’s widely anticipated 25-basis-point interest rate hike and its aftermath. Higher borrowing costs and elevated yields weighed on sentiment, particularly across rate-sensitive areas. Still, gains in semiconductor stocks provided a boost to technology shares, helping the Nasdaq outperform the other major benchmarks for the week.
Regardless of market conditions, we, here at Zacks, provide investors with unbiased guidance on how to beat the market.
As usual, Zacks Research guided investors over the past three months with its time-tested methodologies. Given the prevailing market uncertainty, you may want to look at our feats to prepare better for your next action.
Here are some of our key achievements:
PBF Energy and Delek US Surge Following Zacks Rank Upgrade
Shares of PBF Energy Inc. PBF have gained 20% (versus the S&P 500’s 1.9% increase) since it was upgraded to a Zacks Rank #1 (Strong Buy) on July 23.
Another stock, Delek US Holdings, Inc. DK, which was also upgraded to a Rank #1 on July 23, has returned 18.1% since then.
A portfolio of Zacks # 1 Rank (Strong Buy) stocks has outperformed the S&P 500 index by 2.3 percentage points this year. Through August 3rd this year, the Zacks # 1 Rank portfolio returned +12.08%, which compares to a +9.78% gain for the S&P 500 index and a +10.41% gain for the equal-weight version of the index in the same time period.
Since its inception in 1988, this portfolio of Zacks # 1 Rank stocks has outperformed the market by 12.4 percentage points. The average annual return for this portfolio of Zacks # 1 Rank stocks since inception in 1988 was +23.9% through August 3rd, which compares to a +11.5% gain for the S&P 500 index and a +11.3% gain for the equal-weight version of the index.
Check PBF’s historical EPS and Sales here>>>
Check Delek US’ historical EPS and Sales here>>>
Image Source: Zacks Investment Research
Zacks Recommendation Upgrades Avidia and Chemung Financial
Shares of Avidia Bancorp, Inc. AVBC and Chemung Financial Corporation CHMG have surged 11.6% and 11.3% (versus the S&P 500’s 3.1% rise), respectively, since their Zacks Recommendation was upgraded to Outperform on July 24.
While the Zacks Rank is our short-term rating system that is most effective over the one- to three-month holding horizon, the Zacks Recommendation aims to predict performance over the next 6 to 12 months. However, just like the Zacks Rank, the foundation for the Zacks Recommendation is trends in earnings estimate revisions.
The Zacks Recommendation classifies stocks into three groups — Outperform, Neutral and Underperform. While these recommendations are determined quantitatively, our analysts have the flexibility to override them for the 1100+ stocks they closely follow based on their better judgment of factors such as valuation, industry conditions and management effectiveness than the quantitative model.
To access our research reports with Zacks Recommendations for the 1100+ stocks we cover, click here>>>
Zacks Focus List Stocks Palantir, Adobe Shoot Up
Shares of Palantir Technologies Inc. PLTR, which belongs to the Zacks Focus List, have soared 38.3% over the past 12 weeks. The stock was added to the Focus List on March 26, 2024. Another Focus-List holding, Adobe Inc. ADBE, which was added to the list on March 13, 2020, has returned 27.6% over the past 12 weeks. The S&P 500 has advanced 2% over this period.
The 50-stock Focus List portfolio returned +19.86% in the year-to-date period (through August 31, 2026) vs. +13.14% for the S&P 500 index and +15.59% for the equal-weight version of the index.
The portfolio returned +22.1% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Zacks Focus List portfolio returned +18.41% in 2024 vs. +25.04% for the S&P 500 index and +13% for the equal-weight S&P 500 index. The portfolio had returned +29.54% in 2023 vs. +26.28% for the S&P 500 index and +13.61% for the equal-weight S&P 500 index. In 2022, the portfolio returned -15.2% vs. the S&P 500 index’s -17.96%.
Through August 31, 2026, the portfolio’s rolling returns on a one-year, three-year, five-year, ten-year, and since 2004 have been +28.7% (vs. +20.4% for the S&P 500 index), +24.1% (vs. +21.1%), +13.6% (vs. +12.8%), +17.1% (vs. +15.4%) and +12.7% vs. (+11%), respectively.
Unlock all of our powerful research, tools and analysis, including the Focus List, Zacks #1 Rank List, Equity Research Reports, Zacks Earnings ESP Filter, Premium Screener and more, as part of Zacks Premium. Gain full access now >>
Zacks ECAP Stocks Thermo Fisher & Intercontinental Exchange Gain Significantly
Thermo Fisher Scientific Inc. TMO, a component of our Earnings Certain Admiral Portfolio (ECAP), has jumped 40.2% over the past 12 weeks. Intercontinental Exchange, Inc. ICE followed Thermo Fisher with 16.1% returns.
The Zacks Earnings Certain Admiral Portfolio (ECAP), which consists of 30 concentrated, ultra-defensive, long-term Buy-and-Hold stocks, returned -9.4% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index.
For 2025, the portfolio returned -1.67% vs. a +17.9% gain for the S&P 500 index. For the year 2024, the portfolio returned +16.26% vs. +24.89% for the S&P 500 index (SPY ETF). In 2023, the portfolio returned +12.17% vs. +26.28% for the S&P 500 index. The portfolio returned -4.7% in 2022 vs. the S&P 500 index’s -17.96%.
With little to no turnover and annual rebalance periodicity, ECAP seeks to minimize capital loss by holding shares of companies whose earnings streams exhibit a proven 20+ year track record of surviving recessionary periods with minimal impact on aggregate earnings growth relative to the overall S&P 500.
The ECAP and many other model portfolios are available as part of Zacks Advisor Tools, a cloud-based solution to access Zacks award-winning stock, mutual fund and ETF research. Click here to schedule a demo.
Zacks ECDP Stocks Quest Diagnostics & Automatic Data Outperform Peers
Quest Diagnostics Incorporated DGX, which is part of our Earnings Certain Dividend Portfolio (ECDP), has returned 26.4% over the past 12 weeks. Another ECDP stock, Automatic Data Processing, Inc. ADP, has climbed 24.2% over the same time frame. Of course, the inclination of investors toward quality dividend stocks to secure an income stream amid heightened market volatility contributed to this performance.
Check Automatic Data’s dividend history here>>>
With an extremely low beta and a history of minimum earnings variability over the last 20+ years, this 25-stock portfolio helps significantly mitigate risk.
The Zacks Earnings Certain Dividend Portfolio (ECDP) returned -1.7% in the first half of 2026 (through June 30th) vs. +10.2% for the S&P 500 index and +9.03% for the Dividend Aristocrats ETF (NOBL).
The portfolio returned -0.6% in 2025 vs. a +6.8% gain for the Dividend Aristocrats ETF. For the full year 2024, the portfolio returned +6.95% vs. +24.89% for the S&P 500 index and +6.72% for NOBL. The portfolio returned -0.9% in 2023 vs. +26.28% for the S&P 500 index and +8.11% for NOBL. The portfolio returned -2.3% in 2022 vs. -17.96% for the S&P 500 index and -8.34% for NOBL.
Click here to access this portfolio on Zacks Advisor Tools.
Zacks Top 10 Stock Monolithic Power Delivers Solid Returns
Monolithic Power Systems, Inc. MPWR, from the Zacks Top 10 Stocks for 2025, has jumped 30.1% since January 5, 2026, compared with the S&P 500 Index’s 11.5% increase.
The Top 10 portfolio returned +15% in the year-to-date 2026 period (through August 31st) vs. +12.9% for the S&P 500 index and +14.8% for the equal-weight version of the index.
The Top 10 portfolio returned +22.6% in 2025 vs. +17.9% for the S&P 500 index and +11.4% for the equal-weight version of the index.
The Top 10 portfolio returned +62.98% in 2024, vs. +25.04% for the S&P 500 index and +13% for the equal-weight version of the index. The portfolio returned +25.15% in 2023 vs. +26.28% for the S&P 500 index.
Through the end of August 2026, the Top 10 portfolio has produced a cumulative return of +2,881.3% since 2012 vs. +648.5% for the S&P 500 index and +481.7% for the equal-weight version of the index. The portfolio has produced an average annual return of +25.8% in the period 2012 through August 31, 2026, vs. +13.6% for the S&P 500 index and +11.3% for the equal-weight version of the index.
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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Beat the Market Like Zacks: PBF, Palantir, Adobe in Focus

For Immediate Release
Chicago, IL – September 17 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: Cisco Systems, Inc. CSCO, Lam Research Corp. LRCX, Thermo Fisher Scientific Inc. TMO, Ampco-Pittsburgh Corp. AP and Catalyst Bancorp, Inc. CLST.
Here are highlights from Thursday’s Analyst Blog:
Top Stock Reports for Cisco, Lam Research and Thermo Fisher
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 Cisco Systems, Inc., Lam Research Corp. and Thermo Fisher Scientific Inc., as well as two micro-cap stocks Ampco-Pittsburgh Corp. and Catalyst Bancorp, 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
Cisco’s shares have outperformed the Zacks Computer - Networking industry over the past year (+65.9% vs. +64.3%). The company’s prospects are benefiting from broad demand across networking, security and collaboration. AI infrastructure orders, integrated silicon and an end-of-support refresh opportunity support a multi-year networking cycle, while newer security products and Splunk’s recovery broaden the growth base.
Cisco also retains operating leverage and continues to return cash to shareholders. Offsetting these positives, a hardware-led revenue mix is expected to limit gross-margin expansion, while services recovery should remain gradual.
Competition across networking and security still requires sustained product execution. Acquisition exposure and an elevated valuation leave less room for disappointment. The balanced mix of durable growth drivers and execution, margin and valuation risks supports the Neutral recommendation.
(You can read the full research report on Cisco here >>>)
Shares of Lam Research have outperformed the Zacks Electronics - Semiconductors industry over the past year (+123.1% vs. +27.4%). The company is benefiting from AI-driven investment in memory, leading-edge foundry and advanced packaging. Rising process complexity is increasing demand for etch and deposition tools, while NAND conversions, advanced DRAM and larger packages expand its served market.
Customer Support is scaling through upgrades, high utilization and early adoption of Equipment Intelligence and Dextro services. Record fiscal 2026 results, higher margin targets and a sizable September-quarter outlook reinforce execution. Cash generation and capital returns add support.
However, equipment spending remains cyclical, China exposure is volatile, and export controls can disrupt demand. Competition, capacity limits and international exposure also remain risks. Overall, structural AI demand and rising technology content support the Outperform view.
(You can read the full research report on Lam Research here >>>)
Thermo Fisher’s shares have outperformed the Zacks Medical - Instruments industry over the past year (+36.2% vs. -0.5%). 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 >>>)
Shares of Ampco-Pittsburgh have outperformed the Zacks Metal Products - Procurement and Fabrication industry over the past year (+211.6% vs. +5.9%). This microcap company with a market capitalization of $160.93 million sees its outlook supported by ALP’s exposure to nuclear power, defense, power generation and mission-critical HVAC, alongside improving FCEP profitability after footprint optimization.
Stronger backlog, protective tariffs, improving FEP activity and better utilization in Sweden provide support for longer-term earnings and margin expansion. However, execution remains important as FCEP is exposed to steel-market cyclicality, product mix and utilization trends, while ALP must convert a growing backlog as capacity expands.
Elevated leverage, weak cash conversion, working-capital needs and asbestos obligations constrain financial flexibility. Residual U.K. recovery uncertainty also remains a risk. Valuation suggests limited near-term upside, making sustained earnings growth, margin expansion and deleveraging important catalysts for improving investor returns.
(You can read the full research report on Ampco-Pittsburgh here >>>)
Catalyst Bancorp’s shares have outperformed the Zacks Banks - Southeast industry over the past year (+36.2% vs. +10.9%). This microcap company with a market capitalization of $72.29 million, with its July 2026 Lakeside acquisition more than doubling its asset, loan and deposit base, is creating a larger franchise with greater earnings potential if the November systems conversion proceeds smoothly.
Funding trends are constructive, with deposits up 6% in the first half, lower deposit costs and a loan-to-deposit ratio of 82.9%. Credit quality also improved, as non-performing and past-due loans declined, supporting provision reversals. Net interest income rose 6.3% in the first half, aided by stronger securities income and growth in selected commercial categories.
However, challenges include 12.1% growth in non-interest expenses, a weaker efficiency ratio and a 4.4% decline in organic loans. Margin compression and heavy real estate exposure also raise sensitivity to funding costs and property-market conditions. Shares trade at 32.58X price/earnings, above peers
(You can read the full research report on Catalyst Bancorp here >>>)
Free: Instant Access to Zacks' Market-Crushing Strategies
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can tap into those powerful strategies – and the high-potential stocks they uncover – free. No strings attached.
Get all the details here >>
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
https://www.zacks.com
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.
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 >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

The Zacks Analyst Blog Highlights Cisco, Lam, Thermo Fisher Scientific, Ampco-Pittsburgh and Catalyst

Wednesday, September 16, 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 Cisco Systems, Inc. (CSCO), Lam Research Corp. (LRCX) and Thermo Fisher Scientific Inc. (TMO), as well as two micro-cap stocks Ampco-Pittsburgh Corp. (AP) and Catalyst Bancorp, Inc. (CLST). 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 >>> Retail Sales, Imports Come In Warm Ahead of FOMC Decision
Today's Featured Research Reports
Cisco’s shares have outperformed the Zacks Computer - Networking industry over the past year (+65.9% vs. +64.3%). The company’s prospects are benefiting from broad demand across networking, security and collaboration. AI infrastructure orders, integrated silicon and an end-of-support refresh opportunity support a multi-year networking cycle, while newer security products and Splunk’s recovery broaden the growth base.
Cisco also retains operating leverage and continues to return cash to shareholders. Offsetting these positives, a hardware-led revenue mix is expected to limit gross-margin expansion, while services recovery should remain gradual.
Competition across networking and security still requires sustained product execution. Acquisition exposure and an elevated valuation leave less room for disappointment. The balanced mix of durable growth drivers and execution, margin and valuation risks supports the Neutral recommendation.
(You can read the full research report on Cisco here >>>)
Shares of Lam Research have outperformed the Zacks Electronics - Semiconductors industry over the past year (+123.1% vs. +27.4%). The company is benefiting from AI-driven investment in memory, leading-edge foundry and advanced packaging. Rising process complexity is increasing demand for etch and deposition tools, while NAND conversions, advanced DRAM and larger packages expand its served market.
Customer Support is scaling through upgrades, high utilization and early adoption of Equipment Intelligence and Dextro services. Record fiscal 2026 results, higher margin targets and a sizable September-quarter outlook reinforce execution. Cash generation and capital returns add support.
However, equipment spending remains cyclical, China exposure is volatile, and export controls can disrupt demand. Competition, capacity limits and international exposure also remain risks. Overall, structural AI demand and rising technology content support the Outperform view.
(You can read the full research report on Lam Research here >>>)
Thermo Fisher’s shares have outperformed the Zacks Medical - Instruments industry over the past year (+36.2% vs. -0.5%). 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 >>>)
Shares of Ampco-Pittsburgh have outperformed the Zacks Metal Products - Procurement and Fabrication industry over the past year (+211.6% vs. +5.9%). This microcap company with a market capitalization of $160.93 million sees its outlook supported by ALP’s exposure to nuclear power, defense, power generation and mission-critical HVAC, alongside improving FCEP profitability after footprint optimization.
Stronger backlog, protective tariffs, improving FEP activity and better utilization in Sweden provide support for longer-term earnings and margin expansion. However, execution remains important as FCEP is exposed to steel-market cyclicality, product mix and utilization trends, while ALP must convert a growing backlog as capacity expands.
Elevated leverage, weak cash conversion, working-capital needs and asbestos obligations constrain financial flexibility. Residual U.K. recovery uncertainty also remains a risk. Valuation suggests limited near-term upside, making sustained earnings growth, margin expansion and deleveraging important catalysts for improving investor returns.
(You can read the full research report on Ampco-Pittsburgh here >>>)
Catalyst Bancorp’s shares have outperformed the Zacks Banks - Southeast industry over the past year (+36.2% vs. +10.9%). This microcap company with a market capitalization of $72.29 million, with its July 2026 Lakeside acquisition more than doubling its asset, loan and deposit base, is creating a larger franchise with greater earnings potential if the November systems conversion proceeds smoothly.
Funding trends are constructive, with deposits up 6% in the first half, lower deposit costs and a loan-to-deposit ratio of 82.9%. Credit quality also improved, as non-performing and past-due loans declined, supporting provision reversals. Net interest income rose 6.3% in the first half, aided by stronger securities income and growth in selected commercial categories.
However, challenges include 12.1% growth in non-interest expenses, a weaker efficiency ratio and a 4.4% decline in organic loans. Margin compression and heavy real estate exposure also raise sensitivity to funding costs and property-market conditions. Shares trade at 32.58X price/earnings, above peers
(You can read the full research report on Catalyst Bancorp here >>>)
Other noteworthy reports we are featuring today include Ameren Corp. (AEE), HF Sinclair Corp. (DINO) and Annaly Capital Management, Inc. (NLY).
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
End Market Strength, Strategic Buyouts Aid Thermo Fisher (TMO)
Featured Reports
Systematic Investments Aid Ameren (AEE) Amid Poor Liquidity
Per the Zacks analyst, Ameren makes systematic investments to maintain and upgrade the reliability of its infrastructure. Yet its poor financial ratios indicate weak liquidity position.
Tight refining markets support margin capture for HF Sinclair (DINO)
Per the Zacks analyst, favorable refining markets, asset optimization, renewable profitability and portfolio simplification support cash generation, flexibility and shareholder returns for DINO.
Portfolio Diversification Aid Annaly (NLY) Amid Stiff Competition
Per the Zacks Analyst, exposure to high-quality MBS, focus on residential credit business and MSR platform support Annaly's growth momentum. Yet, stiff competition remains a concern.
Cousins Properties (CUZ) Gains From Leasing Strength, Faces Debt Risks
Per the Zacks analyst, Cousins Properties benefits from strong office demand, leasing growth and higher occupancy. However, elevated leverage, interest expense and office-sector risks remain concerns.
Iovance's (IOVA) Marketed Drugs Drive Top Line Growth
The Zacks Analyst believes that demand for Iovance's lead product Amtagvi is strong. Potential approvals for the drug's expanded use in other indications can drive the company's long-term growth.
Acadia Healthcare's (ACHC) Behavioral Health Demand Aids, Costs Hurt
Per the Zacks analyst, strong behavioral health demand, capacity expansion and higher 2026 revenue guidance support growth, while rising costs and reimbursement risks remain concerns.
Lucid (LCID) Eyes Autonomy Upside Amid Margin Pressure
Per the Zacks analyst, Lucid sees autonomy growth potential through Uber, NVIDIA and Nuro, while deeply negative margins and cash burn remain key challenges to scaling profitability
New Upgrades
Owens Corning (OC) Benefits From Strong Roofing & Insulation Momentum
Per the Zacks analyst, Owens Corning gains from solid Roofing and Insulation performance, pricing discipline and manufacturing investments. Also, strong execution and liquidity support its outlook.
Herc Holdings (HRI) Benefits From Fleet Optimization & Cash Generation
Per the Zacks Analyst, scale, specialty growth, fleet optimization and disciplined cash generation support revenue resilience of Herc Holdings as acquisition benefits build through the rental cycle.
Strength in Metal Cutting Segment to Aid Kennametal (KMT)
Per the Zacks analyst, Kennametal's Metal Cutting unit is driven by share gains, higher aerospace build rates and project wins in energy end markets. Its shareholder friendly measures are encouraging.
New Downgrades
Qualcomm (QCOM) Plagued by Handset Cyclicality, Supply Chain Issues
Per the Zacks analyst, weakness in the smartphone market, supply chain constraints and cost increases across wafers, assembly, memory and other materials will likely impede Qualcomm's margins.
Soft Las Vegas Demand & High Costs Hurt Caesars' (CZR) Prospects
Per the Zacks analyst, Caesars' performance is being hurt by soft leisure demand in Las Vegas, leading to lower visitation, hotel rates and table play. Also, elevated operating costs are concerns.
Flowers Foods (FLO) Faces Volume Pressure as Bread Demand Softens
Per the Zacks analyst, Flowers Foods' weakening traditional bread demand could hinder revenue recovery and bakery network scale benefits. Total company volume fell 5.8% in the second quarter of 2026.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This innovative software-as-a-service firm upped its user base +22% year over year. That rate is increasing and margins are expanding as AI efficiencies take effect. Of course, all our elite picks aren't winners, but this one could far surpass earlier Zacks' Stocks Set to Double like D-Wave Quantum, which shot up +680.1%.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
This article originally published on Zacks Investment Research (zacks.com).

Top Stock Reports for Cisco, Lam Research & Thermo Fisher

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.
Free: See Our Top Stock And 4 Runners Up
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Thermo Fisher Scientific Inc

Trend

Trend Class

Trend Power

Pattern

EMA

EMA-20

EMA-50

EMA-100

EMA-20

EMA-50

EMA-100

Oscillators

Stochastic

RSI

MACD

Candle pattern type