11 Best Medical Device Stocks to Buy Now

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

Number of Hedge Fund Holders: 100

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best medical device stocks to buy now. It provides analytical instruments, reagents, equipment, and other services for analysis, research, diagnostics, and discovery. It operates through the Analytical Instruments, Life Sciences Solutions, Laboratory Products and Services, and Specialty Diagnostics segments.

In a report released on April 25, Jill Wu from CMB International Securities maintained a Buy rating on Thermo Fisher Scientific Inc. (NYSE:TMO) and set a price target of $526.00. The analyst supported this rating with the company’s ability to effectively manage macroeconomic challenges despite experiencing headwinds such as US domestic policy changes and tariffs.

Thermo Fisher Scientific Inc. (NYSE:TMO) also surpassed adjusted EPS and revenue expectations in fiscal Q1 2025, which suggests strong and stable demand in most of its business segments, especially the biotech and pharma markets.

The company plans to invest $2 billion in the coming four years to expand its R&D facilities and US manufacturing, highlighting its commitment to long-term growth.

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