10 Best Stocks In Each Sector In 2024

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

Number of Hedge Fund Holders in Q2 2024: 108

Thermo Fisher Scientific Inc. (NYSE:TMO) is a sizeable company in the global pharmaceutical raw materials and lab equipment industry. Its scale lends it indispensable advantages in the life sciences industry. These are primarily trust and deep industry partnerships that enable Thermo Fisher Scientific Inc. (NYSE:TMO) to remain at the forefront of emerging trends. This was clear during the pandemic era, as it was Moderna’s partner for the coronavirus vaccine. However, as of 2023, 60% of Thermo Fisher Scientific Inc. (NYSE:TMO)’s revenue was from the pharmaceutical industry. Pharma performs well when rates are low as companies can invest heavily in future drugs. Consequently, the firm’s shares jumped by 1.6% after the Fed’s rate cut in September. Yet, they ended up losing their gains after the firm’s Investor Day. This was because Thermo Fisher Scientific Inc. (NYSE:TMO)’s management did not share optimistic updates for its China business and refrained from providing an outlook for 2025. Therefore, moving forward, these elements should be the two keys when evaluating Thermo Fisher Scientific Inc. (NYSE:TMO)’s shares.

One segment where Thermo Fisher Scientific Inc. (NYSE:TMO)’s management has focused quite a bit is the proteomics industry. Here is what they shared during the Q2 2024 earnings call:

“I’ll begin with the new technologies we launched at the American Society for Mass Spectrometry Conference, further strengthening our industry leading position in analytical instruments. At the conference, we introduced the Thermo Scientific Stellar Mass Spectrometer, which extends our leadership in proteomics. The Thermo Scientific Stellar is used to validate biomarker candidates. It offers unprecedented analytical capabilities for targeted quantitation, enabling the insights needed by researchers to advance their work.

It’s a perfect complement to our groundbreaking Thermo Scientific Orbitrap Astral, used for protein discovery that we launched last year. It was incredibly exciting to hear the customer testimonials sharing the power of the Orbitrap Astral. To-date, we’ve had more than 40 publications that incorporated the impact of this breakthrough, and we’re really just getting started. Also at ASMS, we launched three new build-for-purpose editions of the Thermo Scientific Orbitrap Ascend Tribrid Mass Spectrometer tailored to specific applications for MultiOmics, Structural Biology and BioPharma. These instruments continue to elevate our industry-leading Thermo Scientific Orbitrap portfolio by offering enhanced speed and sensitivity to detect and characterize the most difficult protein samples, including complex biologics.”