12 Best S&P 500 Stocks With Huge Upside Potential

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

Number of Hedge Fund Holders: 101

Average Upside Potential as of June 24: 38.49%

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the best S&P 500 stocks with huge upside potential. On June 23, Thermo Fisher Scientific announced that it had been awarded a 5-year contract worth $94.5 million by the US Department of Defense (DoD). Under this contract, Thermo Fisher Scientific will supply the US Navy with a next-gen dosimetry system, coupled with updated radiation health and database management software.

The US Navy operates the world’s most technologically advanced naval fleet and is the largest global user of dosimetry systems for defense purposes. Thermo Fisher Scientific will provide Navy Occupational Dosimetry System/NODS devices and Navy Radiation Exposure Management System/NAVREMS software.

These tools are manufactured in Oakwood Village, Ohio, and are crucial for monitoring and managing occupational radiation exposure among Naval personnel. This includes those associated with nuclear-powered Navy assets, nuclear-capable shipyards, various research sites, laboratories, and naval medical facilities. The advanced digital dosimetry devices are designed with integrated beta, gamma, and neutron detection capabilities, which ensures precise and reliable radiation exposure monitoring in demanding environments.

Thermo Fisher Scientific Inc. (NYSE:TMO) provides life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services internationally.

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