5 Best Medical Technology Stocks To Buy Now

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

Number of Hedge Fund Holders: 109

Based in Waltham, Massachusetts, Thermo Fisher Scientific Inc. is an American provider of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical, and biotechnology services. The company was established in 2006 through the merger of Thermo Electron and Fisher Scientific.

Thermo Fisher Scientific Inc. (NYSE:TMO) revealed on November 21 that it had entered into a collaboration with EDX Medical Group for various initiatives, focusing on the advancement and potential commercialization of several exclusive qPCR assays. These assays serve as tools to detect the presence of mutant genes.

At the end of the third quarter of 2023, 109 hedge funds in the database of Insider Monkey held stakes worth $8.9 billion in Thermo Fisher Scientific Inc. (NYSE:TMO), up from 103 in the preceding quarter worth $7 billion.

Thermo Fisher Scientific Inc. (NYSE:TMO) was mentioned in Weitz Investment Management’s second-quarter 2023 investor letter. Here is what it said:

“Portfolio activity this quarter included opportunistically initiating a position in life sciences tool and equipment maker Thermo Fisher Scientific Inc. (NYSE:TMO), a long-time holding of other Weitz portfolios, at an attractive valuation.”

You can also take a peek at 20 Countries with Lowest Rates of Cancer and 12 Most Undervalued Travel Stocks To Buy According To Hedge Funds.

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