5 Stocks Making Big Moves on Financial Results

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

Number of Hedge Fund Holders: 94

Thermo Fisher Scientific Inc. (NYSE:TMO) manufactures and supplies a range of products primarily for the healthcare industry. Those products range from scientific instruments and reagents to consumables and software services.

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) closed higher on Wednesday, February 2, 2022, after announcing better-than-expected profit and sales for the fourth quarter. The Massachusetts-based company earned $6.54 per share on an adjusted basis, down from $7.09 per share in the year-ago period.

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Revenue for the quarter came in at $10.7 billion versus $10.55 billion for the fourth quarter of 2020. Analysts were expecting Thermo Fisher Scientific Inc. (NYSE:TMO) to earn $4.93 per share on revenue of $8.71 billion.

Discussing the results, CEO Marc Casper said:

“We had an outstanding 2021, as we continued to execute our proven growth strategy, powered by our PPI Business System, and operated with speed at scale to help our customers and governments around the world advance their important work.”