Aristotle Atlantic Focus Growth Strategy Liquidated Thermo Fisher Scientific (TMO)

Aristotle Atlantic Partners, LLC, an investment advisor, released its “Focus Growth Strategy” third quarter 2024 investor letter. A copy of the letter can be downloaded here. The U.S. equity market continued its rise to new record highs, with the S&P 500 Index increasing by 5.89% during the period.  Aristotle Atlantic’s Focus Growth strategy returned 2.84% gross of fees (2.82% net of fees) in the quarter underperforming the Russell 1000 Growth Index’s 3.19% total return. The relative outperformance was due to both allocation effects and security selection. In addition, you can check the fund’s top 5 holdings to determine its best picks for 2024.

Aristotle Focus Growth Strategy highlighted stocks like Thermo Fisher Scientific Inc. (NYSE:TMO) in the Q3 2024 investor letter. Thermo Fisher Scientific Inc. (NYSE:TMO) offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services. The one-month return of Thermo Fisher Scientific Inc. (NYSE:TMO) was -6.83%, and its shares gained 22.61% of their value over the last 52 weeks. On November 1, 2024, Thermo Fisher Scientific Inc. (NYSE:TMO) stock closed at $557.92 per share with a market capitalization of $213.404 billion.

Aristotle Focus Growth Strategy stated the following regarding Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q3 2024 investor letter:

“We sold Thermo Fisher Scientific Inc. (NYSE:TMO) due to the reduction in the Health Care weighting in the Russell 1000 Growth benchmark as a result of the annual rebalance. Furthermore, we believe that Thermo is trading at a full valuation based on its expected earnings growth and the softness in some life science-related end markets.”

A workstation in a research lab stocked with laboratory products and services.

Thermo Fisher Scientific Inc. (NYSE:TMO) is in 18th position on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 108 hedge fund portfolios held Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of the second quarter which was 110 in the previous quarter. While we acknowledge the potential of Thermo Fisher Scientific Inc. (NYSE:TMO) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

In another article, we discussed Thermo Fisher Scientific Inc. (NYSE:TMO) and shared the list of best medical stocks to buy. In addition, please check out our hedge fund investor letters Q3 2024 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.