Is Thermo Fisher Scientific a Buy?
Thermo Fisher Scientific (NYSE: TMO) has been one of the more stable investments on the markets this year. The healthcare company's stock is down about 4% in 2020, less than the S&P 500's 6% decline. With the U.S. Food and Drug Administration (FDA) granting emergency use authorization (EUA) for the company's COVID-19 test, this could be one of the few stocks that's a good buy both during and after the pandemic. Let's take a closer look at the stock to see whether you should consider adding Thermo Fisher to your portfolio today.
Thermo Fisher released its first-quarter fiscal 2020 results on April 22. In Q1, there wasn't a whole lot of growth for the company, as sales were up just 1.7% from the prior-year period.
On Thermo Fisher's earnings call, Senior Vice President and CFO Stephen Williamson noted that the company has seen both headwinds and tailwinds from the pandemic. While it has benefited from additional research and testing for the coronavirus, it has also seen sales slow down as some customers have been unable to work. Williamson estimates that the overall impact on the company's financials was a bit of a loss, costing it about 3% worth of sales growth for the quarter.
Source Fool.com
