10 Best Manufacturing Stocks To Buy Now

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

Number of Hedge Fund Holders: 98

Thermo Fisher Scientific Inc. (NYSE:TMO) is a global leader in serving science, offering a wide range of life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products. With annual revenues exceeding $40 billion and a market cap of over $200 billion, the company is well-positioned to benefit from growing demand in drug development and research.

In its recent Q4 report, Thermo Fisher Scientific Inc. (NYSE:TMO) posted revenue of about $11.4 billion, reflecting a 5% increase year-over-year, and beat analyst expectations with adjusted earnings of $6.10 per share versus the forecasted $5.95. Strong demand for its comprehensive suite of products, particularly in the Laboratory Products and Biopharma Services segments, helped drive this performance. The company also generated robust cash flow, with operating cash flow around $8.7 billion and free cash flow near $7.3 billion, supporting both its organic growth initiatives and strategic acquisitions.

Institutional confidence in Thermo Fisher Scientific Inc. (NYSE:TMO) is very high, with about 90.8% of its shares held by institutions. Notably, approximately 98 hedge funds in Insider Monkey’s Q3 2024 database included Thermo Fisher Scientific Inc. (NYSE:TMO) in their portfolios, reflecting its reputation as a stable, long-term investment.

Raymond James analyst Andrew Cooper reiterated an “Outperform” rating on Thermo Fisher Scientific Inc. (NYSE:TMO), raising the price target from $650.00 to $667.00 on February 3, 2025. Cooper highlighted the company’s strong performance and strategic initiatives as key drivers for future growth.