5 Healthcare Stocks Billionaires Like the Most

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

Number of Billionaire Holders: 23

Waltham, Massachusetts-based Thermo Fisher Scientific Inc. (NYSE:TMO) is a leading supplier of analytical instruments, life sciences solutions, specialty diagnostics, laboratory, pharmaceutical and biotechnology services.

On October 17, Thermo Fisher Scientific Inc. (NYSE:TMO) announced to acquire Olink Holding AB (publ) (NASDAQ:OLK), Sweden-based provider of next-generation proteomics solutions, in an all-cash transaction that values Olink at nearly $3.1 billion. Earlier this year in August, the company completed the acquisition of CorEvitas, LLC, a leading provider of regulatory-grade, evidence for approved medical treatments and therapies, from Audax Private Equity, for $912 million in cash.

Following the Q3 2023 financial release on October 25 which showed better than expected normalized EPS figures, RBC Capital analyst Conor McNamara maintained an ‘Outperform’ rating for Thermo Fisher Scientific Inc. (NYSE:TMO) and lowered the price target to $579 from $657. The price target represents a potential upside of nearly 18%.

As of Q3 2023, 109 of the elite hedge funds tracked by Insider Monkey held Thermo Fisher Scientific Inc. (NYSE:TMO) shares, valued at $8.9 billion, which makes it the most commonly owned stock among hedge funds, on our list of 12 healthcare stocks billionaires like the most. Chris Hohn’s TCI Fund Management was its largest hedge fund shareholder with ownership of 3.2 million shares valued at $1.6 billion.