Jim Cramer Says He Feels “Particularly Good About” Thermo Fisher

Thermo Fisher Scientific Inc. (NYSE:TMO) is one of the stocks Jim Cramer recently discussed. Cramer highlighted the company’s decline and comeback during the year, as he stated:

“Next, there’s the biggest player in the group, and that’s Thermo Fisher Scientific, which does a bit of everything, selling big ticket equipment, consumables, and services to companies all across the life sciences industry with a new focus on clinical research services followed by the, that’s because of an acquisition they made called PPD a few years ago. Thermo Fisher experienced one of the biggest declines in the group earlier this year, but its stock [has] had a strong recovery since then.

It is currently up more than 50% from its mid-June lows. You know, I feel particularly good about this Thermo Fisher because, well, I got to speak with the CEO, Marc Casper, in late October. He told an excellent story. This was right after the company reported a good quarter, a healthy top and bottom line beat, with management raising their full-year forecast. Casper told us about strength across his businesses. Not only are his commercial end markets doing great, but even previously tough areas like academia, which really shocked me, given the way the government’s been, government itself, and China, which has been terrible, were solid and growing again.

Casper also called out the reshoring theme that Agilent mentioned last time. At the same time, Thermo Fisher’s also partnering with OpenAI to create new tools and technologies that the company hopes will help speed up the drug development process, a real-world use for AI that costs, well, it goes beyond cost savings. Plus, some of the acquisitions Thermo Fisher’s made recently, they’re starting to pay off. The company actually announced another deal a few days after that interview.

They’re paying nearly $9 billion to buy a company called Clario Holdings, which will give them even more exposure to the clinical trial ecosystem. Putting it all together, Thermo Fisher feels like it’s back to being the company that I love for so many years, I’m talking about since the show began. They’re talking less about some inventory glut somewhere and more about the exciting technologies they’re creating. It is such a pleasure to listen to that company now.”

Photo by Adam Nowakowski on Unsplash

Thermo Fisher Scientific Inc. (NYSE:TMO) offers instruments, reagents, consumables, software, and lab services that support scientific research, diagnostics, and drug and vaccine development.

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Disclosure: None. This article is originally published at Insider Monkey.