New contract win for Thermo Fisher

Article Excerpt

THERMO FISHER SCIENTIFIC, $562.96, is a buy. The company (New York symbol TMO; TSINetwork Rating: Average) (www.thermofisher.com; Shares o/s: 393.4 million; Market cap: $221.3 billion; Divd. yield: 0.2%) lets you tap this leading manufacturer of scientific instruments, laboratory equipment, diagnostic consumables, and life science reagents. The shares are now up 72.8% for our subscribers since we first recommended the stock in our May 2020 issue of Power Growth Investor at $325.83 a share. We still think they have room to move higher. Thermo Fisher has won a $192.5 million award from the U.S. Department of Defense to expand production of a device used in diagnostic tests including those for COVID-19. The U.S. is facing a shortage of COVID-19 tests as schools and employers revive surveillance programs following a resurgence in cases due to the highly contagious Delta variant. Thermo Fisher will use the award to build a new manufacturing facility in North Carolina to expand production of pipette tips, used to transfer liquids…