5 Best Defensive Stocks To Buy Now

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

Number of Hedge Fund Holders: 98

Thermo Fisher Scientific Inc (NYSE:TMO) ranks 4th in our list of the best defensive stocks to buy now according to hedge funds. Thermo Fisher Scientific Inc (NYSE:TMO) in July posted weak Q2 results and revised its full-year guidance that missed analyst consensus. This development came in the wake of the global macroeconomic situation. Thermo Fisher Scientific Inc (NYSE:TMO) is still a major player in the industry and analysts believe the stock has solid growth potential. According to Yahoo Finance data, Thermo Fisher Scientific Inc (NYSE:TMO)’s one-year price estimate (average) set by Wall Street analysts is $627.

Weitz Partners III Opportunity Fund made the following comment about Thermo Fisher Scientific Inc. (NYSE:TMO) in its second quarter 2023 investor letter:

“Portfolio activity this quarter included opportunistically initiating a position in life sciences tool and equipment maker Thermo Fisher Scientific Inc. (NYSE:TMO), a long-time holding of other Weitz portfolios, at an attractive valuation.”