Jim Cramer Latest Stocks: 23 Stocks He Just Talked About

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

Number of Hedge Fund Holders In Q3 2024: 98

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the largest pharmaceutical raw materials and lab equipment companies in the world. Due to its reliance on the healthcare industry, which exposes it to drug development and the costly lab equipment market, the stock has lost 5% to date. Thermo Fisher Scientific Inc. (NYSE:TMO)’s end markets are highly dependent on interest rates as its customers rely on easy money to fund large projects. The firm’s global presence has also generated significant headwinds from the prolonged economic slowdown in China. Thermo Fisher Scientific Inc. (NYSE:TMO)’s China sales were flat year-over-year in the nine months ending in September. Cramer commented on the slowdown and shared:

“They used to buy all these instruments from Danaher. They used to buy them from Thermo Fisher. They stopped. The orders from China for scientific equipment from Thermo and for Danaher are just incredible how poor they are. Look at that. That’s Danaher. That’s not just any company. Look at TMO, it’s such a good company. But that’s trimming these orders. Chinese orders are, because they have not done this stimulus.”