TMO — tear sheet

The engine assesses Thermo Fisher Scientific (TMO) as Overweight, pairing a fundamentals-led case with staged rather than full deployment at the all-time high. Its core evidence is the Q2 2026 press release (SEC 8-K Item 2.02, 2026-07-23): revenue grew 10% to $11.99 billion including 5% organic, adjusted EPS rose 13% to $6.03, and GAAP diluted EPS rose 9% to $4.68. The QuantOrb snapshot for the 2026-09-22 US session shows MFI at 69.84 with a CONTINUATION signal (strength 0.3747), which the corpus labels a screen output, not a recommendation. The 13F-HR dataset (as of 2026-03-31) shows tracked net accumulation — 1832 Asset Management +58.3%, Unisphere +5.1%, GMO +3.7% — against reductions by Pictet (-16.3%) and Flossbach von Storch (-10.3%). The engine explains it stayed at Overweight rather than a full Buy on tape-extension grounds: RSI near 71.6, price roughly 11.6% above the 50-day average, fading up-day volume, and a stale MACD divergence. Sources: EIGHTK (SEC 8-K Item 2.02 press release, 2026-07-23); FACTS (QuantOrb snapshot); THIRTEENF; engine final decision.

Source: SEC 13F-HR holdings (as of 2026-03-31) via quantorb filers data — quarter-end snapshots, statutory lag up to 45 days

Quarter-end 13F-HR snapshot for TMO as tracked in the quantorb filers dataset (5 institutional filer rows on file; positions as of 2026-03-31, a quarter-end snapshot subject to the statutory 13F reporting lag of up to 45 days). Quarter-over-quarter share changes where the dataset carries them:

This is the dataset's tracked top-holder snapshot, not an exhaustive list of 13F filers; it is a periodic regulatory disclosure, not real-time portfolio data.

Management's press release (SEC 8-K Item 2.02, 2026-07-23) reports second-quarter revenue of $11.99 billion, up 10% including 5% organic growth; GAAP diluted EPS of $4.68, up 9%; and adjusted EPS of $6.03, up 13%, under the headline 'Customer Activity Across Our End Markets Continued to Strengthen.' Chairman and CEO Marc N. Casper cited 'outstanding performance,' the PPI Business System, strengthening end markets and 'continued share gain,' adding the company is 'well positioned to deliver a great 2026.' The release also notes next-generation Orbitrap platforms with AI-driven analytics launched at the American Society for Mass Spectrometry conference. Catalysts visible in the corpus: the Precure, LLC joint venture with Mayo Clinic for multi-omic early detection (per the news analyst report); Casper's September 17 remarks at a Morgan Stanley conference that demand is improving and 2026 will be an 'outstanding year' (per the engine's news analyst, citing MarketBeat); and the late-October Q3 print, the engine's designated checkpoint. Sources: EIGHTK (8-K Item 2.02 press release); engine outputs (news analyst report; sentiment analyst report; risk judge decision).

Risks flagged in the corpus: The 10-K (filed 2026-02-26) warns growth would be impacted if served markets decline or do not grow as anticipated, notes periodic cyclical downturns in certain businesses, and states inflation remained elevated in 2025 and continues at elevated levels. The conservative analyst's review cites GAAP net margin down 40 basis points to 14.5%, adjusted EPS aided by a 1.9% lower diluted share count, first-half capital returns of $4.34 billion exceeding first-half FCF of $2.49 billion (pre-funded by a $5.24 billion debt raise), a buyback halved to $1.0 billion, net debt of $38.5 billion (~3.2x EBITDA), negative tangible book of $20.8 billion, and 65% of assets in goodwill and intangibles. Tape risks per the engine: RSI near 71.6, price roughly 11.6% above the 50 SMA, fading volume, a stale MACD divergence, a prior January–May 31.4% drawdown, and an MFI snapshot tied to a vendor-disputed session. The 13F figures are lagged quarter-end snapshots. Sources: FILING (SEC 10-K, filed 2026-02-26); THIRTEENF; engine risk review (conservative) and risk judge decision.