Billionaire Jeffrey Talpins Just Fled From These 5 Healthcare Stocks

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

Former Value of Element Capital Management‘s 13F Position: $34.6 million

Number of Hedge Fund Shareholders: 101

More hedge funds have taken long positions in Thermo Fisher Scientific Inc. (NYSE:TMO) than ever before following four straight quarters of rising hedge fund ownership of the stock. Talpins’ fund was on that buying bandwagon in Q4, taking a new position of 51,823 shares in the life sciences company. The fund hopped off the bandwagon in Q1 however, unloading its entire stake in the company.

While Thermo Fisher Scientific Inc. (NYSE:TMO)’s Covid-related revenue also fell heavily during Q1, slumping by over 30% to $1.7 billion, the company was able to overcome that and grow its overall sales by nearly $2 billion to $11.8 billion. PPD, which Thermo Fisher acquired in December, contributed heavily to those gains, boosting revenue by $1.7 billion in the first quarter. The laboratory supplies and clinical research company appears to be well positioned to capture more of the growing healthcare market, which is projected to grow by more than 7% annually through 2027.

The ClearBridge Investments Sustainability Leaders Strategy loves the fertility benefit management services that Thermo Fisher Scientific Inc. (NYSE:TMO) provides to clients, saying this about the company in its Q4 2021 investor letter:

“Improving health remains a key impact theme for the portfolio, and over the past year or so we have increased our exposure to the health care sector, through the addition of Thermo Fisher Scientific, a leading health care tools company, a leading provider of fertility benefit management services to self-insured employers that offers a rare win-win-win for employers, employees, health systems, and doctors, with clear savings and quality improvements.”