Life Science Tools & Diagnostics: Tools For The Trade Weekly - Week of 9/14/26

Life Science Tools & Diagnostics Group was up ~7% last week (9/17 vs 9/11), with Large Cap Tools +10.1%, Specialty Tools +12.0%, and Specialty Diagnostics +14.4%. Leaders were TEM (+36.2%), CAI (+27.0%), TWST (+22.3%) and MYGN (+21.1%), while VCYT (-0.7%) and HTFL (-0.6%) lagged. Over the past seven trading days, our coverage in aggregate is up ~10% on an equal-weighted basis, which we attribute mostly to positive commentary out of recent competitor conferences as well as incremental short covering that produced outsized gains in select names; with the group having moved this much, we continue to believe that share performance from here is increasingly dependent on upward revisions to estimates. Notable news included: GH - EviCore by Evernorth will cover Guardant Health's Shield blood test for colorectal cancer screening beginning January 1, 2027, increasing total covered lives among eligible patients aged 45 and older to approximately 94MM;