5 Biotech Stocks Hedge Funds Are Talking About

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

Number of Hedge Fund Holders: 95

L1 Capital, an investment management firm, published its ‘L1 Capital International Fund’ third quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly net return of 3.7% was recorded by the fund in the second quarter of 2021, compared to the benchmark return of 3.9% You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

L1 Capital, in its Q3 2021 investor letter, mentioned Thermo Fisher Scientific Inc. (NYSE: TMO) and discussed its stance on the firm. Thermo Fisher Scientific Inc. is a Waltham, Massachusetts-based scientific instrumentation, reagents and consumables, and software services provisioner with a $209.1 billion market capitalization. TMO delivered a -19.86% return since the beginning of the year, while its 12-month returns are up by 19.33%. The stock closed at $534.75 per share on March 7, 2022.

Here is what L1 Capital has to say about Thermo Fisher Scientific Inc. in its Q3 2021 investor letter:

“Included in these adjustments, in early July 2021, we divested our remaining small investment in Thermo Fisher Scientific (Thermo Fisher), the world leader in the provision of equipment, consumables, and services to the Life Sciences industry. Thermo Fisher has benefited from elevated demand for its products and services associated with COVID-19 and we sold our residual investment at a gain of more than 70% compared to our average investment cost. Thermo Fisher subsequently held an Investor Day and positively surprised many people, including us, with very strong medium-term growth targets, notwithstanding a headwind from normalisation of COVID-19-related business. Thermo Fisher is a high-quality business and remains on our ‘Bench’ for potential reinvestment.”

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