10 Best Stocks That Will Always Grow

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

Number of Hedge Fund Holders: 100

Thermo Fisher Scientific Inc. (NYSE:TMO) provides analytical instruments, reagents, equipment, software, and other services for analysis, research, diagnostics, and discovery. It operates through the Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics segments.

In a report released on April 18, Puneet Souda from Leerink Partners maintained a Buy rating on Thermo Fisher Scientific Inc. (NYSE:TMO) and set a price target of $625.00. Eve Burstein from Bernstein also maintained a Buy rating on the company on April 16, setting a $585.00 price target.

Looking towards 2025, the company anticipates adjusted earnings between $23.10 and $23.50 per share, which coincides with analyst estimates. It holds a significant market position, and allows its investors long-term growth free of threats and risks associated with dependency on breakthrough drugs and expiring patents. Over 80% Thermo Fisher Scientific Inc.’s (NYSE:TMO) revenue comes from recurring sources, reflecting its stable business model and ranking it third on our list of the best stocks to buy.

Thermo Fisher Scientific Inc. (NYSE:TMO) also has a strong dividend yield, retunring $4.6 billion to shareholders through dividends and buybacks in 2024. Its median price target of $420.63 implies a 54.65% upside from current levels. Analysts are bullish on the stock due to its recent strategic acquisition of SOLV’s Purification and Filtration business, valued at $4.1 billion. The acquisition is anticipated to boost Thermo Fisher Scientific Inc.’s (NYSE:TMO) standing in the bioprocessing sector, especially in filtration, aligning with its long-term growth strategy.