Billionaire Ken Fisher’s Top 11 Dividend Stock Picks

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

Fisher Asset Management’s Stake Value: $1,401,637,491

On June 3, HSBC downgraded Thermo Fisher Scientific Inc. (NYSE:TMO) to Hold from Buy. It also lowered its price target on the stock to $540 from $670.The firm said Thermo Fisher’s goal of returning to 7% growth beyond 2027 “needs more support.” According to the analyst, the company’s relatively lower exposure to bioprocessing compared with its peers, along with uncertainty surrounding outsourcing demand, raises concerns in the near term. HSBC also pointed to a lack of near-term organic growth momentum as the primary reason for the downgrade.

Just a day earlier, on June 2, Wolfe Research analyst Mike Polark initiated coverage of TMO with an Outperform rating. He also set a $535 price target on the stock. In a research note covering the Life Science Tools & Diagnostics sector, Wolfe described Thermo Fisher as “synonymous with life science tools” and viewed the stock as “an anchor sector exposure.” The firm also said it has come to appreciate the company’s business model as a “serial acquirer,” highlighting its long track record of growth through acquisitions.

Thermo Fisher Scientific Inc. (NYSE:TMO) focuses on advancing life sciences research, helping customers tackle complex analytical challenges, improving laboratory productivity, and supporting patient health through diagnostics and the development and manufacturing of life-changing therapies.