Is Thermo Fisher Scientific (TMO) Trading at an Attractive Valuation?

Weitz Investment Management, an investment management firm, released its “Partners III Opportunity Fund” second-quarter 2023 investor letter. A copy of the same can be downloaded here. In the second quarter, the fund’s Institutional Class returned +8.03% compared to an +8.39% return for the Russell 3000 Index. The Fund’s Institutional Class has returned +11.33% year-to-date compared to +16.17% return for the benchmark. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Weitz Partners III Opportunity Fund highlighted stocks like Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter 2023 investor letter. Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. (NYSE:TMO) provides life science solutions, analytical instruments, specialty diagnostics, and laboratory products and services. On August 7, 2023, Thermo Fisher Scientific Inc. (NYSE:TMO) stock closed at $551.79 per share. One-month return of Thermo Fisher Scientific Inc. (NYSE:TMO) was 6.26%, and its shares lost 5.01% of their value over the last 52 weeks. Thermo Fisher Scientific Inc. (NYSE:TMO) has a market capitalization of $212.837 billion.

Weitz Partners III Opportunity Fund made the following comment about Thermo Fisher Scientific Inc. (NYSE:TMO) in its second quarter 2023 investor letter:

“Portfolio activity this quarter included opportunistically initiating a position in life sciences tool and equipment maker Thermo Fisher Scientific Inc. (NYSE:TMO), a long-time holding of other Weitz portfolios, at an attractive valuation.”

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Thermo Fisher Scientific Inc. (NYSE:TMO) is in 26th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 98 hedge fund portfolios held Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of first quarter which was 92 in the previous quarter.

We discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in another article and shared Aristotle Large Cap Growth Fund’s views on the company. In addition, please check out our hedge fund investor letters Q2 2023 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.