10 Best Cancer Stocks To Buy Now

2. Thermo Fisher Scientific Inc. (NYSE:TMO)

Hedge Fund Holdings: 108 

Thermo Fisher Scientific Inc. (NYSE:TMO) is a global leader in serving science, offering a wide range of products and services to the healthcare, life sciences, and diagnostics industries. The company operates across four main segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services. Thermo Fisher generates revenue from product sales, services, and support contracts. Its collaboration with the National Cancer Institute on the myeloMATCH trial highlights its commitment to advancing cancer research, using NGS technology to accelerate the development of treatments for AML and MDS.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides solutions for HLA labs and transplant teams, supporting organ transplants and drug development. The stock is up 11% this year, with $42.86 billion in sales in 2023. As of Q2 2024, 108 hedge funds held stakes in the company, down from 110 in Q1 20234. The largest stakeholder was Fisher Asset Management, led by Ken Fisher, with a $1,421,748,082 position in the stock. The stock has a Strong Buy rating based on 13 Wall Street analysts. The average price target is $629.83, with a high of $670.00 and a low of $600.00, representing a 2.97% increase from the last price of $611.

Thermo Fisher Scientific Inc. (NYSE:TMO) raised its 2024 revenue guidance to $42.4–$43.3 billion, slightly up from the previous range, and increased its adjusted EPS guidance to $21.29–$22.07 after strong Q2 results. The company’s net profit margin as of June 30, 2024, was 14.69%.