In this article, we discuss 5 best performing S&P 500 stocks in the last 5 years. If you want to see more stocks in this selection, check out 12 Best Performing S&P 500 Stocks in the Last 5 Years.
5. Thermo Fisher Scientific Inc. (NYSE:TMO)
Number of Hedge Fund Holders: 92
5-Year Share Price Gains as of January 6: 154.56%
Thermo Fisher Scientific Inc. (NYSE:TMO) is a Massachusetts-based provider of life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and services worldwide. On November 10, Thermo Fisher Scientific Inc. (NYSE:TMO) declared a quarterly dividend of $0.30 per share, in line with previous. The dividend is distributable on January 16, to shareholders of record on December 15. The company also announced on November 10 a $4 billion share repurchase program.
On January 3, Wells Fargo analyst Timothy Daley lowered the price target on Thermo Fisher Scientific Inc. (NYSE:TMO) to $505 from $525 and maintained an Underweight rating on the shares. The analyst observed that in late 2021, the company upgraded its long-term growth guidance by +200bps to 7%-9%. Given his largely bearish view on primary growth drivers for 2023, the analyst sees this as a very aggressive hurdle under the backdrop of Thermo Fisher Scientific Inc. (NYSE:TMO)’s history of repeatedly setting initial annual guidance with large headroom for beat/raise progression through the year.
According to Insider Monkey’s Q3 data, 92 hedge funds were long Thermo Fisher Scientific Inc. (NYSE:TMO), compared to 93 funds in the last quarter. Thomas Steyer’s Farallon Capital is a significant position holder in the company, with 1.12 million shares worth $569 million.
Aristotle Atlantic made the following comment about Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q3 2022 investor letter:
“Thermo Fisher Scientific Inc. (NYSE:TMO) is considered one of the world’s leaders in serving science. The company makes and distributes analytical instruments, scientific equipment, consumables and other laboratory supplies. Thermo Fisher Scientific operates in four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics and Laboratory Product and Biopharma Services. We see Thermo Fisher Scientific as one of the leading management teams in our coverage both through solid execution and savvy Mergers & Acquisitions (M&A). The company is a diversified provider of research and discovery instruments, tools, consumables, and services, and offers a broad-based play on the increased Research & Development (R&D) spend from the biopharma industry. Thermo Fisher Scientific continues to see organic growth in the high single digits with acquisitions increasing their overall portfolio composition and gaining market share.”
