Thermo Fisher makes a savvy purchase

Article Excerpt

THERMO FISHER SCIENTIFIC INC., $470.954, is a buy. The company (New York symbol TMO; TSINetwork Rating: Average) (thermofisher.com; Shares o/s: 386.4 million; Market cap: $172.0 billion; Dividend yield: 0.3%) is now buying Olink Holding AB (Nasdaq symbol OLK). Based in Sweden, this firm makes lab equipment that helps pharmaceutical firms analyze how proteins interact with cells. Thermo Fisher will pay $3.1 billion in cash for Olink when it completes the purchase in mid-2024. The new operations will add $200 million to Thermo Fisher’s annual revenue of $43.5 billion. The company also expects eliminating overlapping operations will let it realize cost savings. Thermo Fisher is a buy. buy…