Top 5 Stock Picks of Rob Cope’s Columbus Point

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

Columbus Point Stake Value: $20,367,000
Percentage of Columbus Point’s 13F Portfolio: 9.69%
Number of Hedge Fund Holders: 94

Thermo Fisher Scientific Inc. (NYSE:TMO) makes analytical instruments, equipment, reagents and consumables, software, and diagnostics for research, analysis, and discovery. On December 14, Wells Fargo analyst Dan Leonard boosted his price target on Thermo Fisher Scientific Inc. (NYSE:TMO) to $700 from $625 and reiterated an “Equal Weight” rating on the shares.

In the third quarter, hedge fund sentiment increased for Thermo Fisher Scientific Inc. (NYSE:TMO). Insider Monkey’s data shows that 94 elite hedge funds held stakes in the company at the end of the third quarter, up from 87 funds a quarter earlier.

L1 Capital, in its third-quarter 2021 investor letter, mentioned Thermo Fisher Scientific Inc. (NYSE:TMO). Here is what the fund said:

“Included in these adjustments, in early July 2021, we divested our remaining small investment in Thermo Fisher Scientific (Thermo Fisher), the world leader in the provision of equipment, consumables, and services to the Life Sciences industry. Thermo Fisher has benefited from elevated demand for its products and services associated with COVID-19 and we sold our residual investment at a gain of more than 70% compared to our average investment cost. Thermo Fisher subsequently held an Investor Day and positively surprised many people, including us, with very strong medium-term growth targets, notwithstanding a headwind from normalisation of COVID-19-related business. Thermo Fisher is a high-quality business and remains on our ‘Bench’ for potential reinvestment.”