Topic: How To Invest

Power Growth Investor Hotline – Friday, February 3, 2023

Article Excerpt

THERMO FISHER SCIENTIFIC INC., $587.76, is a buy. The company (symbol TMO on New York) lets you tap this leading manufacturer of scientific instruments, laboratory equipment, diagnostic consumables, and life science reagents. The shares are now up 80.4% for our subscribers since we first recommended the stock in the May 2020 issue of Power Growth Investor at $325.83 a share. We still think they have room to move higher. In the quarter ended December 31, 2022, Thermo Fisher’s revenue rose 7.0%, to $11.45 billion from $10.70 billion a year earlier. That’s despite lower revenue from COVID-related sales of testing equipment as the pandemic eased. Excluding one-time items, per-share earnings fell 17.4%, to $5.40 from $6.54. The company’s costs went up as it invested for future growth, including spending more on R&D. Meanwhile, the latest earnings beat the consensus estimate of $5.19. On January 3, 2023, Thermo Fisher completed the acquisition of The Binding Site Group, a global leader in specialty diagnostics. The seller was…