Company Reports

Thermo Fisher Scientific delivered solid second-quarter results. Sales were up 5% organically while adjusted operating margin improved by 90 basis points year over year, in line with our forecasts. Shares were up 10% in early July 23 trading after beating FactSet consensus estimates.

Thermo Fisher Scientific delivered decent first-quarter 2026 results, but the outlook remains subdued. Shares declined midsingle digits as recovery is getting pushed back further.

While Thermo Fisher is weathering the pullback in global biopharmaceutical spending and China softness better than most of its peers, it is still not immune to the overall softness in the life science market. Having an unmatched portfolio of products, resources, and manufacturing capabilities has allowed the firm to retain and grow its wallet share among its customers across all channels. We expect the current budget-constrained environment to stay suppressed throughout 2026. But long-term dynamics are still largely intact, and we see Thermo Fishe in a great position to leverage its share gains in the biopharma channel to capitalize on the eventual return of demand.

Life science stocks have been under pressure since late 2022, but with profits expected to rebound in the high single digits in 2026 on average and potentially accelerate even further in 2027-30 due to upcoming catalysts, we see growing momentum in the industry’s profit growth trajectory.

Thermo Fisher Scientific delivered in-line fourth-quarter 2025 results, with slow organic growth across most segments. The overall margin declined slightly.

Thermo Fisher Scientific announced the acquisition of Clario Holdings, a provider of clinical trial data solutions, for $8.9 billion. The deal will close in mid-2026.

Thermo Fisher Scientific delivered decent third-quarter results, with demand slowly improving across all major segments. Operating margin improved modestly as well.

Thermo Fisher Scientific delivered decent second-quarter results, boosting shares by midsingle digits in premarket trading July 23. The company increased its full-year guidance on the revenue and profitability lines.

While Thermo Fisher is weathering the pullback in global biopharmaceutical spending and China softness better than most of its peers, it is still not immune to the overall softness in the life science market. Having an unmatched portfolio of products, resources, and manufacturing capabilities has allowed the firm to retain and grow its wallet share among its customers across all channels. We expect the current budget-constrained environment to stay suppressed this year but to return to more normalized growth in 2026. Thermo Fisher remains in a great position to leverage its share gains in the biopharma channel and capitalize on strong long-term demand.

While Thermo Fisher is weathering the pullback in global biopharmaceutical spending and China softness better than most of its peers, it is still not immune to the overall softness in the life science market. Having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to retain and grow its wallet share among its customers across all channels. We expect the current budget-constrained environment to stay suppressed this year, but return to more normalized growth in 2026. Thermo Fisher remains in a great position to leverage its share gains in the biopharma channel and capitalize on strong long-term demand.

Thermo Fisher Scientific delivered strong first-quarter results. The company reduced its full-year guidance after incorporating the direct impact of tariffs on its revenue and profitability.

Over the past week, life science shares have experienced significant volatility related to a deepening trade war with China and as broader US tariffs were implemented and then paused for 90 days to allow time for negotiations. A pharmaceutical-specific tariff is also being considered.

Thermo Fisher is weathering the pullback in global biopharmaceutical spending and China softness better than most of its peers. Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to retain and grow its wallet share among its customers across all channels. We expect the current budget-constrained environment to slowly ease in the upcoming year. Thermo Fisher remains in a great position to leverage its share gains in the biopharma channel and capitalize on strong long-term demand.

Thermo Fisher Scientific delivered strong fourth-quarter results. Guidance for 2025 implies healthier demand in the first half and reacceleration to historical levels in the second half. Improving demand and the company's expectation for material margin improvement in 2025 led the shares higher.

Thermo Fisher is weathering the pullback in global biopharmaceutical spending better than most of its peers. Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to retain and grow its wallet share among its customers across all channels. We expect the current budget-constrained environment to slowly ease in the upcoming year. Thermo Fisher remains in a great position to leverage its share gains in the biopharma channel and capitalize on strong long-term demand.

While Thermo Fisher's results were largely as expected, we anticipate end markets to start improving next quarter and into 2025.

We are maintaining our $630 fair value estimate for wide-moat Thermo Fisher following its second-quarter results. Organic revenue declined 1% in the quarter but was effectively flat once adjusted for the remainder of the covid-19 revenue in the prior year. Performance on the top and bottom lines is in line with our forecast, and the company is now set to recover in the second half of the year.

Thermo Fisher didn’t just come out of the toughest two years for the global economy unscathed, the company delivered some of its best results. Being the premier life science supplier and having an unmatched portfolio of products, resources, and manufacturing capabilities have allowed the firm to meet massive demand. The pandemic reaffirmed the company's entrenched and dominant positioning with the supply chain, and the current budget-constrained environment still leaves the company in a better position than most of its peers. Thermo Fisher remains in a great position to leverage its share gains in the biopharma channel and capitalize on strong long-term demand.

We are maintaining our $600 fair value estimate for wide-moat Thermo Fisher following its first-quarter results. Organic revenue declined 4% in the quarter, in line with recent trends. The company, however, noted a moderately improved demand environment, which allowed it to slightly raise the lower end of its annual revenue guidance. We reiterate our wide moat rating.

We are maintaining our $600 fair value estimate for wide-moat Thermo Fisher following its fourth-quarter results. As was the case in the prior quarter, the company is seeing continuing broad market weakness but managing it well, with core revenue down 4%. With demand softness likely to persist in the near term, the firm's approach to costs is impressive, with adjusted operating margin improving 70 basis points year over year. We maintain our wide moat rating.