5 Stocks That May Be Splitting Soon

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

Number of Hedge Fund Holders: 93

Thermo Fisher Scientific Inc. (NYSE:TMO) is a leading global provider of life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services. The company has executed three successful stock splits in its history of being public. The last stock split was a 3-for-2 split in June 1996 and the share price was around $40 at the time of the split. As of November 9, the stock is trading at $485 a share and is ranked among the stocks that may be splitting soon.

On October 26, Thermo Fisher Scientific Inc. (NYSE:TMO) posted strong earnings for the fiscal third quarter of 2022. The company reported earnings per share of $5.08 and outperformed estimates by $0.26. Thermo Fisher Scientific Inc. (NYSE:TMO) generated a revenue of $10.68 billion for the quarter, up 14.44% year over year, and beat expectations by $775.41 million.

On October 4, Evercore ISI analyst Vijay Kumar maintained an Outperform rating and his $580 price target on Thermo Fisher Scientific Inc. (NYSE:TMO). Kumar also added Thermo Fisher Scientific Inc. (NYSE:TMO) to Evercore ISI’s “TAP Outperform” list.

At the end of Q2 2022, 93 hedge funds held stakes in Thermo Fisher Scientific Inc. (NYSE:TMO). The total value of these stakes amounted to $7.81 billion. As of September 30, Fisher Asset Management is the most prominent shareholder in Thermo Fisher Scientific Inc. (NYSE:TMO) and has stakes worth $1.16 billion in the company.

Here is what Baron Funds had to say about Thermo Fisher Scientific Inc. (NYSE:TMO) in its third-quarter 2022 investor letter:

“Thermo Fisher Scientific Inc. (NYSE:TMO) is the world’s largest life sciences tools company. Shares fell due to the rotation out of life sciences tools stocks, driven by concerns about a possible global recession, foreign currency exposure, COVID-related lockdowns in China, and reduced levels of biotechnology funding. We continue to believe Thermo Fisher has a strong long-term growth outlook given a large and growing addressable market coupled with its industry-leading scale, commercial infrastructure, e-commerce platform, supply-chain capabilities, and R&D investment.”

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