1. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders: 87
Thermo Fisher Scientific Inc. (NYSE:TMO) ranks first on the list of the 10 best genomic stocks to buy now. Thermo Fisher Scientific Inc. (NYSE:TMO) is a Massachusetts-based provider of scientific instruments, reagents and consumables, and software services.
The company offers a variety of genomics solutions using cutting edge technology, such as next-generation sequencing, real-time PCR, Sanger sequencing, and microarrays. Thermo Fisher Scientific Inc. (NYSE:TMO)’s genomics solutions are focused on oncology, infectious diseases, reproductive health, and inherited diseases. The company was formed after Thermo Electron and Fisher Scientific were merged in 2006. Since then, the scientific giant has acquired many companies in the field including Life Technologies Corporation in 2013, Alfa Aesar in 2015, Affymetrix in 2016, FEI Company in 2017, and BD in 2018.
Thermo Fisher Scientific Inc. (NYSE:TMO) was granted emergency use authorization by the FDA to conduct tests that would alleviate the COVID-19 pandemic. The company is traded as a S&P 100 and S&P 500 Component.
At the end of the second quarter of 2021, 87 hedge funds tracked by Insider Monkey held stakes amounting to $7.39 billion in Thermo Fisher Scientific Inc. (NYSE:TMO), up from 79 in the previous quarter with stakes worth $6.25 billion.
The company reported earnings per share of $5.6 for the second quarter of 2021 on July 28, beating analysts’ consensus estimates by $0.13. The actual revenue for Thermo Fisher Scientific Inc. (NYSE:TMO) was $9.27 billion, beating estimates by $546.4 million.
Thermo Fisher Scientific Inc. (NYSE:TMO) announced on October 1 that it would open a new biologics production facility in Lengau, Switzerland, as part of its deal with CSL Limited (OTC:CSLLY). The facility will be completed in 2022, and will employ a workforce of 200. Initially, the facility will solely support the production of CSL Limited (OTC:CSLLY)’s product for patients with hemophilia B, but it would later cater to other customers as well.
On September 23, Goldman Sachs analyst Matthew Sykes upgraded Thermo Fisher Scientific Inc. (NYSE:TMO) stock to Conviction Buy from Buy, raising the price target to $690 from $600. Skyes believes that the company has excellent potential for growth, and they are highly competitive in the industry.
Alexander Becker’s Codex Capital is the largest stakeholder in Thermo Fisher Scientific Inc. (NYSE:TMO), with 15,600 shares worth $7.87 billion.
In their Q2 2021 investor letter, ClearBridge Investments mentioned Thermo Fisher Scientific Inc. (NYSE:TMO), and how the stock turned their exposure to the healthcare sector from underweight to overweight. Here is what they said:
“Two additional names in the health care sector in the quarter, partially funded with a sale, made strong contributions and helped push our relative exposure to the sector from underweight to overweight. We added Thermo Fisher Scientific to increase our exposure to health care tools, which has been an attractive and core segment within health care. Thermo Fisher’s instruments are used to monitor and protect air, water, and food quality, and the company has strong long-term fundamentals, a top-tier management team and a diversified business.”
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