Topic: How To Invest

Power Growth Investor Hotline – Friday, October 23, 2020

Article Excerpt

THERMO FISHER SCIENTIFIC INC., $480.17, is a buy. The stock (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 47.4% 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 it has room to move higher. In the quarter ended September 26, 2020, Thermo Fisher’s revenues jumped 35.9%, to $8.5 billion from $6.3 billion a year earlier. Excluding one-time items, the company earned $2.25 billion, or $5.63 a share, in the latest quarter. That’s up 89.6% from $1.19 billion, or $2.94. The latest results benefitted from strong COVID-related sales of testing equipment and so on. The company’s long-term debt of $21.1 billion is just 11.4% of its market cap. Thermo Fisher holds a big cash balance of $7.5 billion. In March 2020, the company increased its quarterly dividend 15.8%, for…