5 Best Stocks to Buy Now According to Billionaire Thomas Steyer

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

Farallon Capital’s Stake Value: $675 million

Percentage of Farallon Capital’s 13F Portfolio: 4.15%

Number of Hedge Fund Holders: 93

Thermo Fisher Scientific Inc. (NYSE:TMO) is a life sciences services and analytical instruments provider that is based out of Waltham, Massachusetts, the United States. The firm provides products such as reagent kits, verification fluids, preparation and transportation systems, and cultured media to biotechnology and pharmaceutical companies.

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the strongest dividend stocks in its industry and on the stock market. The company pays 30 cent dividend for a 0.23% yield. Over the past two decades, the firm has paid out 16.6% in dividends and its ten year average dividend growth rate sits at 16%.

Farallon Capital held a $675 million stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the second quarter of this year, which came in the form of 1.2 million shares and represented 4.15% of its investment portfolio. Insider Monkey’s Q2 2022 895 hedge fund survey saw 93 as having invested in the company.

Thermo Fisher Scientific Inc. (NYSE:TMO)’s largest investor in our database is Ken Fisher’s Fisher Asset Management which owns 2.3 million shares that are worth $1.2 billion.

Stewart Asset Management mentioned the company in its Q2 2022 investor letter. Here is what the fund said:

“Recently we initiated two new investments. One in Thermo Fischer Scientific (NYSE:TMO), a supplier to the life sciences industry. We have followed the company for many years and the recent downturn in share price gave us a good entry price at which to invest. Thermo has had strong earnings growth for many years and is led by a superb team. The company’s recent acquisitions make it a full-service supplier to the biopharma and biotech industries.”