Topic: How To Invest

Power Growth Investor Hotline – Friday, July 24, 2020

Article Excerpt

THERMO FISHER SCIENTIFIC INC., $406.38, is a buy. The company (symbol TMO on New York) lets you tap this leading manufacturer of scientific instruments, laboratory equipment, diagnostic consumables, and life science reagents. The shares are now up 24.7% 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. In the quarter ended June 27, 2020, Thermo Fisher’s revenues rose 9.5%, to $6.92 billion from $6.32 billion a year earlier. Excluding one-time items, the company earned $1.55 billion, or $3.89 a share, in the latest quarter, up 26.3% from $1.23 billion, or $3.04. The latest results benefitted from strong COVID-related sales of testing equipment and so on. The company’s long-term debt of $20.6 billion is just 12.7% of its market cap. Thermo Fisher holds a big cash balance of $5.8 billion. In March 2020, the company increased its quarterly dividend 15.8%, for a..