Topic: How To Invest

Power Growth Investor Hotline – Friday, July 7, 2023

Article Excerpt

THERMO FISHER SCIENTIFIC INC., $513.73, 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 57.7% 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. Thermo Fisher is now buying data intelligence company CorEvitas from Audax Private Equity for $912.5 million in cash. Massachusetts-based CorEvitas is a provider of data and analytics to pharmaceutical and biotech companies and expects revenue of $110 million in 2023. Its platform collects real-world data from patients and provides it to pharmaceutical and biotech clients for them to monitor use of their therapies following approval by the U.S. health regulator. Upon completion, CorEvitas would become part of Thermo Fisher’s laboratory products and biopharma services segment. The acquisition is expected to add immediately to Thermo Fisher’s earnings. Overall, Thermo Fisher has…