8 Best Low Volatility Stocks To Buy Right Now

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

5-year Beta (Monthly): 0.79

Number of Hedge Fund Holders: 98

Thermo Fisher Scientific Inc. (NYSE:TMO) provides a wide range of products and services for life sciences, diagnostics, and laboratory research. It offers tools for biological research, drug production, disease diagnosis, and clinical testing. Scotiabank maintains a positive long-term outlook for the life science tools sector, considering it “bullish,” and regards three stocks, including Thermo Fisher, as “some of the highest-quality stocks to own.”

However, in the short term, the firm adopts a more neutral stance on these large-cap stocks due to ongoing uncertainties in key markets, particularly biopharma, and China, as well as potential political risks heading into 2024, according to the analyst. On 23 December, as reported by TipRanks,  Scotiabank started coverage of Thermo Fisher (NYSE:TMO) with a Sector Perform rating and a price target of $605, while BofA has a price target of $660 on the stock and a Buy rating as reported on December 13.

Thermo Fisher’s (NYSE:TMO) acquisitions are delivering strong results. The company’s recent acquisition of Olink Holdings for $3.1 billion, which was finalized in the third quarter, is helping to improve its capabilities in the rapidly growing proteomics market. The acquisition is expected to deliver synergies, with the company projecting $125 million in adjusted operating income synergies by the fifth year.

The Binding Site, which is now the company’s protein diagnostics business and was acquired in 2023, continues to perform well. In the third quarter, the company secured an IVDR claim extension in the European Union for its Optilite Freelite Mx, enabling it to assist in diagnosing neurological diseases like multiple sclerosis.