Thermo Fisher Scientific Inc. (NYSE: TMO) is gaining investors' confidence due to its impressive partnerships. Of late, the company has launched a slew of products to enhance its portfolio. However, declining COVID-19 testing-related demand, as well as adverse macroeconomic impacts might deter Thermo Fisher's growth.
Year to date, this Zacks Rank #3 (Hold) company's shares have rallied 15.7% compared with 7.8% growth of the industry. The S&P 500 composite has risen 17.6% during the said time frame.
The renowned medical and laboratory equipment provider has a market capitalization of $234.75 billion. TMO has had an impressive 14.3% improvement over the past five years, outperforming the industry's 10.2% growth.
The company's earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 3.98%.
Let's delve deeper.
Upsides
New Partnerships Expand Business: Thermo Fisher continues to expand business banking on strategic alliances. During the second quarter, the company advanced its partnerships in the Asia Pacific region. These included one with the National Battery Research Institute in Indonesia to advance battery technology and energy storage, and another with the Mandaya Hospital Group in Indonesia to help advance stem cell research and cell therapy development.
Thermo Fisher also expanded its partnership in Singapore with the National University Hospital. In March this year, the company collaborated with Bayer AG to develop next-generation sequencing-based companion diagnostic ...
