Top 5 Healthcare Stocks to Buy

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

Number of Hedge Fund Holders: 93  

Thermo Fisher Scientific Inc. (NYSE:TMO) offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services worldwide. It is one of the elite healthcare stocks to invest in. On September 20, the company revealed that it had opened a $160 million facility in Chelmsford. The purpose of opening this facility was to produce vaccines and therapies for cancer and other diseases through biological materials. 

On September 12, Barclays analyst Luke Sergott maintained an Overweight rating on Thermo Fisher Scientific Inc. (NYSE:TMO) stock and lowered the price target to $595 from $685. 

At the end of the second quarter of 2022, 93 hedge funds in the database of Insider Monkey held stakes worth $7.8 billion in Thermo Fisher Scientific Inc. (NYSE:TMO), compared to 101 in the preceding quarter worth $7.97 billion. 

In its Q2 2022 investor letter, Stewart Asset Management, an asset management firm, highlighted a few stocks and Thermo Fisher Scientific Inc. (NYSE:TMO) was one of them. Here is what the fund said:

“Recently we initiated two new investments. One in Thermo Fisher Scientific (NYSE:TMO), a supplier to the life sciences industry. We have followed the company for many years and the recent downturn in share price gave us a good entry price at which to invest. Thermo has had strong earnings growth for many years and is led by a superb team. The company’s recent acquisitions make it a full-service supplier to the biopharma and biotech industries.”

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