5 Latest Earnings to Watch

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

Number of Hedge Fund Holders: 93

Thermo Fisher Scientific Inc. (NYSE:TMO) came into the limelight on Wednesday morning after releasing its financial results for the third quarter. The lab equipment and services provider earned $5.08 per share on an adjusted basis, down from $5.77 per share in the year-ago period.

In addition, Thermo Fisher Scientific Inc. (NYSE:TMO) posted revenue of $10.68 billion, up 14 percent on a year-over-year basis. The results easily surpassed analysts’ average estimate of $4.82 per share for earnings and $9.92 billion for revenue.

Separately, investment management firm Baron Funds briefly discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in its third-quarter 2022 investor letter, stating:

Thermo Fisher Scientific Inc. (NYSE:TMO) is the world’s largest life sciences tools company. Shares fell due to the rotation out of life sciences tools stocks, driven by concerns about a possible global recession, foreign currency exposure, COVID-related lockdowns in China, and reduced levels of biotechnology funding. We continue to believe Thermo Fisher has a strong long-term growth outlook given a large and growing addressable market coupled with its industry-leading scale, commercial infrastructure, e-commerce platform, supply-chain capabilities, and R&D investment.”