Should You Consider Investing in Thermo Fisher Scientific (TMO) for the Long-Term?

Baron Funds, an investment management company, released its “Baron Health Care Fund” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the fund declined 6.01% compared to a 4.72% decline for the Russell 3000 Health Care Index. The fund’s underperformance in the quarter was attributed to poor stock selection. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Baron Funds highlighted stocks like Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q3 2022 investor letter. Headquartered in Waltham, Massachusetts, Thermo Fisher Scientific Inc. (NYSE:TMO) is a life science solutions provider. On October 17, 2022, Thermo Fisher Scientific Inc. (NYSE:TMO) stock closed at $517.23 per share. One-month return of Thermo Fisher Scientific Inc. (NYSE:TMO) was -2.81% and its shares lost 12.64% of their value over the last 52 weeks. Thermo Fisher Scientific Inc. (NYSE:TMO) has a market capitalization of $202.645 billion.

Here is what Baron Funds specifically said about Thermo Fisher Scientific Inc. (NYSE:TMO) in its Q3 2022 investor letter:

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.”

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Thermo Fisher Scientific Inc. (NYSE:TMO) is in 20th position on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 93 hedge fund portfolios held Thermo Fisher Scientific Inc. (NYSE:TMO) at the end of the second quarter which was 101 in the previous quarter.

We discussed Thermo Fisher Scientific Inc. (NYSE:TMO) in another article and shared the stock picks of William Von Mueffling’s Cantillon Capital Management. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

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