TOOLS FOR THE TRADE WEEKLY: Expanded G360 Panel Gets FDA Approval and TMO & TWST Host Inv. Days

Research evidence excerpt

TOOLS FOR THE TRADE WEEKLY: Expanded G360 Panel Gets FDA Approval and TMO & TWST Host Inv. Days

Life Science Tools & Diagnostics

May 24, 2026

TOOLS FOR THE TRADE WEEKLY: Expanded G360 Panel TICKER RTG PT % UP

A PP NA NAGets FDA Approval and TMO & TWST Host Inv. Days

AVTR PP NA NA

BRKR OP $50 9.4%

The Wolfe Byte CAI OP $30 92.9%

After a busy few weeks of earnings, we recap share performance, key takeaways DHR OP $230 33.7%

from the past week, and highlight industry news and recent work. GH OP $120 0.9%

GRAL PP NA NA

ILMN OP $150 3.9%

***Please keep Team Schenkel in mind for your Extel (formerly II) vote. It means MRVI PP NA NA MTD PP NA NA

a lot to us as a team - we appreciate the opportunity to collaborate and work MYGN PP NA NA

with you (link) *** NTRA OP $275 35.3%

PACB PP NA NA

QGEN PP NA NA

RGEN OP $175 52.1%

STOCK PERFORMANCE: GROUP WAS UP ~6% LAST WEEK RVTY PP NA NA

SRT3-DE OP €275 18.3%

●Large Cap Tools: +6.74% Specialty Tools: +8.64% Dx: +11.60% Packaging STVN OP $24 33.3%

& Delivery: +3.24% TEM PP NA NA

●Leaders: GH (+25.3% last week; +16.5% YTD); TWST (+23.2% last week; TMO OP $625 39.4%

TWST OP $65 7.3%

+91.0% YTD); VCYT (+17.0% last week; +7.0% YTD) TXG PP NA NA

VCYT OP $50 11.0%

INVESTOR DAYS WAT OP $480 40.2% WST PP NA NA

[TMO, TWST] OP=Outperform, PP=Peer Perform,

UP=Underperform, NR=Not Rated

TMO hosted a low-drama investor day resetting the LRP, primary growth drivers,

and capital deployment strategy. On the LRP, the change in focus was the 2028+

outlook at a framework of 7%, which was previously 7%+, though the company

explained the 7% is a CAGR and could be exceeded. They also updated their

growth framework for operating income from MSD to HSD to HSD, which we think

taken together, affirms TMO's path back to normalized above-market growth.