5 Best Large-Cap Dividend Growth Stocks To Buy Now

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

Number of Hedge Fund Holders: 92
5-Year Average Dividend Growth Rate: 15.05%

Thermo Fisher Scientific Inc. (NYSE:TMO) provides medical equipment, analytical instruments, and other consumables. The company has been raising its dividends consistently for the past six years, which makes it one of the best dividend stocks on our list. The company’s 5-year average dividend growth stands at 15.05%. The stock’s dividend yield on April 25 came in at 0.25%.

At the end of Q4 2022, 92 hedge funds in Insider Monkey’s database owned stakes in Thermo Fisher Scientific Inc. (NYSE:TMO), the same as in the previous quarter. The collective value of these stakes is over $7 billion.

Polen Capital mentioned Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q4 2022 investor letter. Here is what the firm has to say:

“Thermo Fisher Scientific Inc. (NYSE:TMO) is a leader in attractive end markets with a skilled management team who has demonstrated the ability to consistently and wisely allocate capital. It is the world leader in serving science. It is a globally scaled supplier serving more than 400,000 customers working within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, research institutions, and government agencies. Thermo provides many of the products and services that companies in these industries, particularly pharma and biotech, need to operate and drive science forward. The company manufactures and sells instruments, reagents, and consumables used for a wide range of applications in labs. (Click here to view the full text)