Thermo Fisher Scientific Inc. provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets. Its Analytical Instruments segment provides instruments, consumables, software, and services for pharmaceutical, biotechnology, academic, government, environmental, and other research and industrial markets, as well as clinical laboratories. The company's Specialty Diagnostics segment offers liquid, ready-to-use, and lyophilized immunodiagnostic reagent kits, as well as calibrators, controls, protein detection assays, and instruments; immunodiagnostics develops, manufactures and markets complete bloodtest systems to support the clinical diagnosis and monitoring of allergy, asthma and autoimmune diseases; dehydrated and prepared culture media, collection and transport systems, instrumentation, and consumables; human leukocyte antigen typing and testing for organ transplant market; and healthcare products. Its Laboratory Products and Biopharma Services segment provides laboratory products, research and safety market channel, and pharma services and clinical research. It offers products and services through a direct sales force, customer-service professionals, electronic commerce, and third-party distributors under Thermo Scientific; Applied Biosystems; Invitrogen; Fisher Scientific; Unity Lab Services; and Patheon and PPD. Thermo Fisher Scientific Inc. was founded in 1956 and is headquartered in Waltham, Massachusetts.

Thermo Fisher Scientific Inc

It has been about a month since the last earnings report for Thermo Fisher Scientific (TMO). Shares have added about 1.8% in that time frame, outperforming the S&P 500.
But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Thermo Fisher due for a pullback? Well, first let's take a quick look at its latest earnings report in order to get a better handle on the recent catalysts for Thermo Fisher Scientific Inc. before we dive into how investors and analysts have reacted as of late.
Thermo Fisher Scientific Inc.'s (TMO) second-quarter 2025 adjusted earnings per share (EPS) of $5.36 beat the Zacks Consensus Estimate by 2.7%. However, the figure decreased 0.2% year over year.
The adjusted number excludes certain expenses, including asset amortization costs and certain restructuring costs.
GAAP EPS was $4.28, up 6% on a year-over-year basis.
TMO’s Q2 Revenues in Detail
Revenues in the quarter increased 2.9% year over year to $10.85 billion. Moreover, the top line surpassed the Zacks Consensus Estimate by 1.9%.
Organic revenues in the reported quarter increased 2% year over year.
Thermo Fisher operates under four business segments, as discussed below:
Life Sciences Solutions
Revenues in the Life Sciences Solutions segment (23% of total revenues) increased 6.1% year over year to $2.50 billion. The number surpassed our model’s estimate of $2.37 billion.
Analytical Instruments
Revenues in this segment (15.9%) declined 3% year over year to $1.73 billion. The figure missed our model’s estimate of $1.84 billion.
Specialty Diagnostics
Revenues in the Specialty Diagnostics segment (10.4%) increased 1.5% year over year to $1.13 billion. The number missed our model’s prediction of $1.15 billion.
Laboratory Products and Biopharma Services
Revenues in this segment (55.2%) rose 4.1% year over year to $5.99 billion. Our model’s estimate was $5.71 billion.
TMO’s Margin Performance
Gross margin of 41.2% in the second quarter contracted 83 basis points (bps) year over year due to a 4.4% increase in the cost of revenues.
In the quarter, selling, general and administrative expenses rose 5.4% to $1.78 billion. Research and development expenses increased 3.8% to $352 million.
The adjusted operating margin in the quarter was 21.6%, reflecting a contraction of 124 bps.
TMO’s Financial Position
The company ended the second quarter of 2025 with cash and cash equivalents and short-term investments of $6.39 billion compared with $5.95 billion at the end of the first quarter of 2025.
Cumulative net cash from operating activities at the end of the second quarter was $2.12 billion compared with $3.21 billion a year ago.
Thermo Fisher has a consistent dividend-paying history, with the five-year annualized dividend growth of 14.86%.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates review.
VGM Scores
Currently, Thermo Fisher has a subpar Growth Score of D, though it is lagging a bit on the Momentum Score front with an F. However, the stock has a grade of C on the value side, putting it in the middle 20% for this investment strategy.
Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Interestingly, Thermo Fisher has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
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Thermo Fisher (TMO) Up 1.8% Since Last Earnings Report: Can It Continue?

Key Points
The company has a new analyst tracking its fortunes.
That pundit initiated coverage of the stock with the equivalent of a buy recommendation.
An analyst launched coverage of Thermo Fisher Scientific (NYSE: TMO) after market close on Monday, and the stock was experiencing a little pop the following day as a result. On Tuesday, it closed more than 2% higher in price, contrasting well with the 0.6% slide of the benchmark S&P 500 (SNPINDEX: ^GSPC).
Buy, says a new bull
Happily for investors, that pundit is bullish on Thermo Fisher's future. William Blair analyst Matt Larew ranked the healthcare device and services company's stock as an outperform (buy, in other words); it was unclear as of this writing if he set a price target.
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According to reports, Larew believes Thermo Fisher has numerous competitive advantages, and is leveraging them well. He wrote in his inaugural analyst note that the company offers best-in-class services, and with its range of products and services can act as something of a one-stop shop for customers.
On a slightly negative note, Larew pointed out that the company's core biopharma client base is currently experiencing a degree of softness. However, he feels that with its extensive lineup of quality offerings, Thermo Fisher is well positioned to take advantage of that segment when it recovers.
Oversold and undervalued
Thermo Fisher's shares have been in something of a funk; in contrast to numerous other healthcare titles, they are down in price since the start of the year.
Its recent fundamentals have been better than expected -- second-quarter revenue rose by almost 3% (to almost $10.9 billion), and non-GAAP (generally accepted accounting principles) adjusted EPS was at $5.36. Although both figures beat the consensus analyst estimates, they weren't crushing beats, and that top-line growth wasn't remarkable enough to move the stock.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Thermo Fisher Scientific Stock Was Topping the Market Today

For Immediate Release
Chicago, IL – August 19, 2025 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: IBM Corp. IBM, The Goldman Sachs Group, Inc. GS and Thermo Fisher Scientific Inc. TMO.
Here are highlights from Monday’s Analyst Blog:
Top Stock Reports for IBM, Goldman Sachs and Thermo Fisher
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including IBM Corp., The Goldman Sachs Group, Inc. and Thermo Fisher Scientific Inc. These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Retailers Start to Report Earnings This Week
Today's Featured Research Reports
IBM’s shares have outperformed the Zacks Computer - Integrated Systems industry over the past year (+26.8% vs. +18.8%). The company reported strong second-quarter 2025 results, with adjusted earnings and revenues beating the consensus estimate. It witnessed healthy demand trends for hybrid cloud and AI solutions, with a client-focused portfolio and broad-based growth.
The acquisition of Hakkoda has strengthened its data expertise and augmented its capability to support clients’ AI transformation initiatives. IBM is collaborating with SAP to tap generative AI technology within the retail industry. The collaboration is likely to facilitate higher productivity and help accelerate business transformation in consumer-packaged goods and retail firms.
However, declining net sales in the Consulting segment, owing to soft demand in some end markets, are straining margins. Macroeconomic headwinds are worrisome. IBM’s acquisition spree has also escalated integration risks.
(You can read the full research report on IBM here >>>)
Shares of Goldman Sachs have outperformed the Zacks Financial - Investment Bank industry over the past year (+47.3% vs. +42.8%). The company has beaten earnings estimates in the trailing four quarters. Its second-quarter 2025 results benefited from solid growth in the Global Banking & Markets division.
Goldman Sachs’ refocus on the core strengths of investment banking (IB) and trading businesses through restructuring, along with acquisitions and expansion in private equity credit, is expected to boost its global presence and diversify revenues. Post-clearing the 2025 Fed stress test, it raised dividends.
However, given the current geopolitical concerns, Goldman’s high dependence on overseas revenues is worrisome. Further, the company's rising expenses due to ongoing investments in technology are concerning. Yet its decent cash levels and solid credit profile will support its capital distribution plan.
(You can read the full research report on Goldman Sachs here >>>)
Thermo Fisher’s shares have declined -5.8% over the year-to-date period against the Zacks Medical Instruments industry’s decline of -7.3%. The company is braving the ongoing tough economic conditions by leveraging GenAI as part of the PPI Business System, resulting in strong financial performance.
Thermo Fisher’s growth strategy has been bolstered by several recent product launches, including Krios 5 Cryo-TEM and Orbitrap MS systems, among others, in the second quarter. Strategic acquisitions like Solventum and Olink bode well. Thermo Fisher’s Bioproduction arm remains a key driver with new facilities and product lines.
The Zacks analyst expects the company’s revenues to witness a 7.3% CAGR during fiscal 2025-2027. Robust solvency further instills optimism about the stock. However, a volatile macroeconomic environment can dent its operations. Currency woes and fierce competitive pressure add to the worry.
(You can read the full research report on Thermo Fisher here >>>)
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Analyst Blog Highlights IBM, Goldman Sachs Group and Thermo Fisher Scientific

Monday, August 18, 2025
The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including IBM Corp. (IBM), The Goldman Sachs Group, Inc. (GS) and Thermo Fisher Scientific Inc. (TMO). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.
You can see all of today’s research reports here >>>
Ahead of Wall Street
The daily 'Ahead of Wall Street' article is a must-read for all investors who would like to be ready for that day's trading action. The article comes out before the market opens, attempting to make sense of that morning's economic releases and how they will affect that day's market action. You can read this article for free on our home page and can actually sign up there to get an email notification as this article comes out each morning.
You can read today's AWS here >>> Retailers Start to Report Earnings This Week
Today's Featured Research Reports
IBM’s shares have outperformed the Zacks Computer - Integrated Systems industry over the past year (+26.8% vs. +18.8%). The company reported strong second-quarter 2025 results, with adjusted earnings and revenues beating the consensus estimate. It witnessed healthy demand trends for hybrid cloud and AI solutions, with a client-focused portfolio and broad-based growth.
The acquisition of Hakkoda has strengthened its data expertise and augmented its capability to support clients’ AI transformation initiatives. IBM is collaborating with SAP to tap generative AI technology within the retail industry. The collaboration is likely to facilitate higher productivity and help accelerate business transformation in consumer-packaged goods and retail firms.
However, declining net sales in the Consulting segment, owing to soft demand in some end markets, are straining margins. Macroeconomic headwinds are worrisome. IBM’s acquisition spree has also escalated integration risks.
(You can read the full research report on IBM here >>>)
Shares of Goldman Sachs have outperformed the Zacks Financial - Investment Bank industry over the past year (+47.3% vs. +42.8%). The company has beaten earnings estimates in the trailing four quarters. Its second-quarter 2025 results benefited from solid growth in the Global Banking & Markets division.
Goldman Sachs’ refocus on the core strengths of investment banking (IB) and trading businesses through restructuring, along with acquisitions and expansion in private equity credit, is expected to boost its global presence and diversify revenues. Post-clearing the 2025 Fed stress test, it raised dividends.
However, given the current geopolitical concerns, Goldman’s high dependence on overseas revenues is worrisome. Further, the company's rising expenses due to ongoing investments in technology are concerning. Yet its decent cash levels and solid credit profile will support its capital distribution plan.
(You can read the full research report on Goldman Sachs here >>>)
Thermo Fisher’s shares have declined -5.8% over the year-to-date period against the Zacks Medical Instruments industry’s decline of -7.3%. The company is braving the ongoing tough economic conditions by leveraging GenAI as part of the PPI Business System, resulting in strong financial performance.
Thermo Fisher’s growth strategy has been bolstered by several recent product launches, including Krios 5 Cryo-TEM and Orbitrap MS systems, among others, in the second quarter. Strategic acquisitions like Solventum and Olink bode well. Thermo Fisher’s Bioproduction arm remains a key driver with new facilities and product lines.
The Zacks analyst expect the company’s revenues to witness a 7.3% CAGR during fiscal 2025-2027. Robust solvency further instills optimism about the stock. However, a volatile macroeconomic environment can dent its operations. Currency woes and fierce competitive pressure add to the worry.
(You can read the full research report on Thermo Fisher here >>>)
Other noteworthy reports we are featuring today include Enbridge Inc. (ENB), Reddit, Inc. (RDDT) and TELUS Corp. (TU).
Mark Vickery
Senior Editor
Note: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>
Today's Must Read
Featured Reports
Reddit (RDDT) Rides on Growing User Engagement, AI Features
Per the Zacks analyst, Reddit is benefiting from strong growth in user engagement driven by AI-powered features, including Reddit Answers.
TELUS (TU) Gains from Strong Health Services Growth
Per the Zacks analyst, TELUS is benefitting from solid momentum in the Health Service segments, along with increasing mobility and fixed customer additions.
MAP 2025 Initiatives Aid RPM's Performance, Macro Woes Ail
Per the Zacks analyst, RPM benefits from MAP 2025 initiatives and acquisitions. Also, focus on the repair and maintenance bodes well. However, currency woes and tariff pressures are concerning.
HEPACO Buyout Benefits Clean Harbors (CLH), Competition High
Per the Zacks analyst, HEPACO acquisition expanded Clean Harbors' Environmental Services segment's field services business. High competition lowers pricing power and increases operational expenses.
High Premiums, Solid Capital Stand Aid RenaissanceRe (RNR)
Per the Zacks analyst, its rising premiums are driven by continued rate increases and strong segmental contributions. Moreover, a robust capital position continues to be a key catalyst.
Sirius XM (SIRI) Benefits from Steady ARPU, Lower User Loss
Per the Zacks analyst, Sirius XM's prospects are expected to benefit from steady ARPU and lower subscriber loss as well as improving free cash flow.
Amicus (FOLD) Banks on Galafold, Overdependence a Concern
Per the Zacks analyst, Amicus' lead drug, Galafold, has shown solid uptake since launch. The drug has shown blockbuster potential. However, overdependence on Galafold for revenues remains a concern.
New Upgrades
Enbridge (ENB) To Gain From Its Vast Transportation Network
Per the Zacks analyst, Enbridge's extensive crude oil and gas transportation networks in North America support its low-risk business model and generate stable, fee-based revenues.
Strength in Aerospace & Defense Unit Aids RBC Bearings (RBC)
Per the Zacks analyst, RBC Bearings is witnessing solid momentum in the Aerospace & Defense unit, driven by strength in the commercial aerospace, defense aerospace, marine and helicopter markets.
High Rates, Loan Growth Likely to Aid Zions' (ZION) Top Line
Per the Zacks analyst, robust loans, a solid balance sheet and relatively higher rates will support Zions top-line growth. Its capital distribution plans seem sustainable, given the earnings strength.
New Downgrades
Labor Shortage, Rising U.S. Tariffs May Hurt Embraer (ERJ)
Per the Zacks analyst, a shortage of skilled labor may cause Embraer to miss its delivery schedule for certain products. Also, rising U.S. tariffs on imported goods pose a threat to the stock.
NOV Inc. (NOV) Struggles with Aggressive Competitor Pricing
The Zacks analyst believes that NOV faces escalating pricing pressures and tariff challenges, threatening margins as competitors aggressively discount to regain market share amid a slowdown.
Hain Celestial (HAIN) Organic Sales Fall on Volume, Price
Per the Zacks analyst, Hain Celestial's organic sales fell 5% YoY in Q3, with a 3-point drop from volume/mix and a 2-point decline from price pressures.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Top Stock Reports for IBM, Goldman Sachs & Thermo Fisher

Thermo Fisher Scientific TMO recently received approval from the Food and Drug Administration (“FDA”) for its Oncomine Dx Target Test as a companion diagnostic (CDx) to identify patients who may be candidates for HERNEXEOS (zongertinib tablets), a tyrosine kinase inhibitor (TKI).
The HERNEXEOS, developed by Boehringer Ingelheim, is the first and only FDA-approved orally administered targeted therapy for adult patients with unresectable or metastatic non-squamous non-small cell lung cancer (NSCLC).
The recent approval is expected to bolster Thermo Fisher’s Specialty Diagnostics arm.
About TMO’s Oncomine Dx Target Test
The Oncomine Dx Target Test checks if NSCLC tumors harbor human epidermal growth factor receptor 2 (HER2/ERBB2) tyrosine kinase domain (TKD) activating mutations. It enables multi-biomarker analysis from a single tissue sample to aid treatment decisions in as little as four days. This reduces the need for second biopsies and avoids suboptimal therapy selection in the absence of a complete biomarker report. The test is fully reimbursed by Medicare, as well as by the top 20 commercial payers in the United States.
Oncomine Dx Target Test’s Global Approvals
The Oncomine Dx Target Test received its first approval by the FDA as an NGS CDx in 2017, followed by regulatory approvals in 20 countries for 11 biomarkers and over 20 targeted therapies. The test is reimbursed by government and commercial insurers in the United States, Europe, Japan, South Korea and Israel, covering more than 550 million lives globally. In the United States alone, it is approved for targeted therapies in NSCLC, cholangiocarcinoma (CC), astrocytoma (AC) and oligodendroglioma (OG), anaplastic thyroid cancer (ATC), medullary thyroid cancer (MTC) and thyroid cancer (TC).
Industry Prospects Favor TMO
According to the American Cancer Society, lung cancer is the second most common cancer in both men and women in the United States, with NSCLC accounting for about 85-90% of all lung cancer cases. Research further indicates that roughly 2-4% of NSCLC patients carry a HER2 mutation. With lung cancer cases continuing to rise, theglobal marketfor NSCLC treatments is expected to expand significantly, reaching $66.04 billion by 2032 at a CAGR of 10.3% from 2024 to 2032 (per Fortune Business Insights).
Another Development by TMO
Thermo Fisher recently announced the FDA approval for Oncomine Dx Express Test on the Ion Torrent Genexus Dx Integrated Sequencer as an in vitro diagnostic (IVD) assay for use as a companion diagnostic (CDx) for Dizal’s ZEGFROVY (sunvozertinib) and in tumor profiling.
Offerings by TMO’s Competitors
In the oncology space, Thermo Fisher faces competition from some prominent MedTech players. These companies are also making notable developments in their respective businesses.
An expanding NGS oncology portfolio is helping Illumina ILMN drive the revolution in cancer genomics. The company’s market-leading TruSight Oncology assay, TSO 500, continues to see increased utilization and broader adoption. In February, the company announced a new single-cell offering for CRISPR research with applications in oncology, immunology and drug target discovery. In 2024, the FDA approved its in vitro diagnostic (IVD) TSO Comprehensive test and its first two companion diagnostic (CDx) indications to rapidly match patients to targeted therapies. This year, Illumina is set to roll out TSO 500 v2, a new version that includes hundreds of genes across all variant classes and immuno-oncology biomarkers in a single assay from one sample, to facilitate therapy selection research.
A rapidly expanding liquid biopsy and NGS-based testing portfolio is positioning Guardant Health GH as a leader in precision oncology. The company’s flagship Guardant360 test has been recently enhanced with the Guardant Infinity platform, enabling a single blood draw to provide comprehensive tumor profiling, confirm the absence of actionable mutations and determine ER/PR/HER2 status. Regulatory milestones include approvals for Guardant360 CDx as a companion diagnostic in the United States, Japan and Singapore, covering multiple cancer targets such as EGFR and HER2 mutations. Its pipeline also includes the FDA-approved Shield blood test for colorectal cancer screening, offering a non-invasive alternative to colonoscopy.
Exact Sciences’ EXAS flagship screening product, the Cologuard test, is a non-invasive, stool-based DNA (sDNA) screening test that utilizes a multitarget approach to detect DNA and hemoglobin biomarkers associated with colorectal cancer and pre-cancer. The company’s precision oncology portfolio also offers the Oncotype DX Breast Recurrence Score test to identify patients who are most likely to benefit from chemotherapy, as well as those who may receive no clinical benefit from chemotherapy. Its Oncotype DX Colon Recurrence Score test is a multi-gene test for predicting recurrence risk in patients with stage II and stage III A/B colon cancer to enable an individualized approach to treatment planning.
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TMO Receives FDA Approval for Oncomine Dx Target Test

Below is Validea's guru fundamental report for THERMO FISHER SCIENTIFIC INC (TMO). Of the 22 guru strategies we follow, TMO rates highest using our Multi-Factor Investor model based on the published strategy of Pim van Vliet. This multi-factor model seeks low volatility stocks that also have strong momentum and high net payout yields.
THERMO FISHER SCIENTIFIC INC (TMO) is a large-cap growth stock in the Medical Equipment & Supplies industry. The rating using this strategy is 50% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
Detailed Analysis of THERMO FISHER SCIENTIFIC INC
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Guru Fundamental Report for TMO

For most investors, how much a stock's price changes over time is important. This factor can impact your investment portfolio as well as help you compare investment results across sectors and industries.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Thermo Fisher Scientific (TMO) ten years ago? It may not have been easy to hold on to TMO for all that time, but if you did, how much would your investment be worth today?
Thermo Fisher Scientific's Business In-Depth
With that in mind, let's take a look at Thermo Fisher Scientific's main business drivers.
Headquartered in Waltham, MA, Thermo Fisher Scientific is a scientific instrument maker and a world leader in serving science. In Nov 2006, Thermo Fisher Scientific, Inc. was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. On Feb 3, 2014, Thermo Fisher acquired Life Technologies Corporation.
In terms of end market served, there are four divisions-- pharmaceutical and biotech, academic and government, industrial and applied, and healthcare and diagnostics.
Following the acquisition, the new reporting segments are:
The Life Sciences Solutions segment, representing 22.5% of total revenues in 2024, was added post the acquisition of Life Technologies. It incorporates the majority of the former Life Technologies and Thermo Fisher’s Biosciences businesses. In 2024, this business registered a decline of 3.5% from the 2023 level.
In July 2024, Thermo Fisher acquired Olink, a provider of next-generation proteomics solutions.
The Analytical Instruments (formerly known as Analytical Technology) segment, which represented 17.4% of total revenues in 2024, has been renamed to reflect the transfer of the bioprocess production business to the newly formed Life Sciences Solutions Segment. In 2024, this business registered growth of 2.7% from the 2023 level.
The Specialty Diagnostics (SD) segment represents 10.5% of total revenues, formed after the acquisition of Phadia, serves customers in healthcare and clinical laboratories with a portfolio of diagnostic test kits, reagents and instruments used to increase the speed and accuracy of diagnoses to improve patient care. In 2024, this business registered growth of 2.4% from the 2023 level.
Laboratory Products and Biopharma Services, formerly known as Laboratory Products and Services, represents 54% of total revenues. It has been renamed to reflect the inclusion of the PPD acquisition. PPD has been referred to as a clinical research business within this segment. In 2024, this business registered growth of 0.5% from the 2023 level.
Bottom Line
Anyone can invest, but building a successful investment portfolio requires research, patience, and a little bit of risk. So, if you had invested in Thermo Fisher Scientific, ten years ago, you're likely feeling pretty good about your investment today.
According to our calculations, a $1000 investment made in August 2015 would be worth $3,625.41, or a gain of 262.54%, as of August 14, 2025, and this return excludes dividends but includes price increases.
The S&P 500 rose 210.39% and the price of gold increased 189.39% over the same time frame in comparison.
Analysts are forecasting more upside for TMO too.
Thermo Fisher is braving the ongoing tough economic conditions by leveraging GenAI as part of the PPI Business System, resulting in strong financial performance. The company's growth strategy has been bolstered by several recent product launches, including Krios 5 Cryo-TEM and Orbitrap MS systems, among others, in the second quarter. Strategic acquisitions like Solventum and Olink bode well. Thermo Fisher's Bioproduction arm remains a key driver with new facilities and product lines. We expect the company's revenues to witness a 7.3% CAGR during fiscal 2025-2027. Robust solvency further instills optimism about the stock. However, a volatile macroeconomic environment can dent its operations. Currency woes and fierce competitive pressure add to the worry.
Shares have gained 16.45% over the past four weeks and there have been 11 higher earnings estimate revisions for fiscal 2025 compared to none lower. The consensus estimate has moved up as well.
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Here's How Much a $1000 Investment in Thermo Fisher Scientific Made 10 Years Ago Would Be Worth Today

Among the underlying components of the S&P 500 index, we saw noteworthy options trading volume today in Thermo Fisher Scientific Inc (Symbol: TMO), where a total of 14,417 contracts have traded so far, representing approximately 1.4 million underlying shares. That amounts to about 46% of TMO's average daily trading volume over the past month of 3.1 million shares. Especially high volume was seen for the $540 strike call option expiring October 17, 2025, with 10,454 contracts trading so far today, representing approximately 1.0 million underlying shares of TMO. Below is a chart showing TMO's trailing twelve month trading history, with the $540 strike highlighted in orange:
Deere & Co. (Symbol: DE) options are showing a volume of 4,895 contracts thus far today. That number of contracts represents approximately 489,500 underlying shares, working out to a sizeable 43.8% of DE's average daily trading volume over the past month, of 1.1 million shares. Especially high volume was seen for the $530 strike call option expiring August 15, 2025, with 333 contracts trading so far today, representing approximately 33,300 underlying shares of DE. Below is a chart showing DE's trailing twelve month trading history, with the $530 strike highlighted in orange:
And Nike (Symbol: NKE) options are showing a volume of 46,746 contracts thus far today. That number of contracts represents approximately 4.7 million underlying shares, working out to a sizeable 43.4% of NKE's average daily trading volume over the past month, of 10.8 million shares. Especially high volume was seen for the $70 strike put option expiring September 19, 2025, with 2,576 contracts trading so far today, representing approximately 257,600 underlying shares of NKE. Below is a chart showing NKE's trailing twelve month trading history, with the $70 strike highlighted in orange:
For the various different available expirations for TMO options, DE options, or NKE options, visit StockOptionsChannel.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Notable Wednesday Option Activity: TMO, DE, NKE

How much a stock's price changes over time is a significant driver for most investors. Not only can price performance impact your portfolio, but it can help you compare investment results across sectors and industries as well.
Another factor that can influence investors is FOMO, or the fear of missing out, especially with tech giants and popular consumer-facing stocks.
What if you'd invested in Thermo Fisher Scientific (TMO) ten years ago? It may not have been easy to hold on to TMO for all that time, but if you did, how much would your investment be worth today?
Thermo Fisher Scientific's Business In-Depth
With that in mind, let's take a look at Thermo Fisher Scientific's main business drivers.
Headquartered in Waltham, MA, Thermo Fisher Scientific is a scientific instrument maker and a world leader in serving science. In Nov 2006, Thermo Fisher Scientific, Inc. was formed through the merger of Thermo Electron Corporation with Fisher Scientific International Inc. On Feb 3, 2014, Thermo Fisher acquired Life Technologies Corporation.
In terms of end market served, there are four divisions-- pharmaceutical and biotech, academic and government, industrial and applied, and healthcare and diagnostics.
Following the acquisition, the new reporting segments are:
The Life Sciences Solutions segment, representing 22.5% of total revenues in 2024, was added post the acquisition of Life Technologies. It incorporates the majority of the former Life Technologies and Thermo Fisher’s Biosciences businesses. In 2024, this business registered a decline of 3.5% from the 2023 level.
In July 2024, Thermo Fisher acquired Olink, a provider of next-generation proteomics solutions.
The Analytical Instruments (formerly known as Analytical Technology) segment, which represented 17.4% of total revenues in 2024, has been renamed to reflect the transfer of the bioprocess production business to the newly formed Life Sciences Solutions Segment. In 2024, this business registered growth of 2.7% from the 2023 level.
The Specialty Diagnostics (SD) segment represents 10.5% of total revenues, formed after the acquisition of Phadia, serves customers in healthcare and clinical laboratories with a portfolio of diagnostic test kits, reagents and instruments used to increase the speed and accuracy of diagnoses to improve patient care. In 2024, this business registered growth of 2.4% from the 2023 level.
Laboratory Products and Biopharma Services, formerly known as Laboratory Products and Services, represents 54% of total revenues. It has been renamed to reflect the inclusion of the PPD acquisition. PPD has been referred to as a clinical research business within this segment. In 2024, this business registered growth of 0.5% from the 2023 level.
Bottom Line
Putting together a successful investment portfolio takes a combination of research, patience, and a little bit of risk. For Thermo Fisher Scientific, if you bought shares a decade ago, you're likely feeling really good about your investment today.
A $1000 investment made in July 2015 would be worth $3,497.73, or a 249.77% gain, as of July 29, 2025, according to our calculations. Investors should note that this return excludes dividends but includes price increases.
The S&P 500 rose 205.26% and the price of gold increased 190.40% over the same time frame in comparison.
Analysts are forecasting more upside for TMO too.
Thermo Fisher is braving the ongoing tough economic conditions by leveraging GenAI as part of the PPI Business System, resulting in strong financial performance. The company's growth strategy has been bolstered by several recent product launches, including Krios 5 Cryo-TEM and Orbitrap MS systems, among others, in the second quarter. Strategic acquisitions like Solventum and Olink bode well. Thermo Fisher's Bioproduction arm remains a key driver with new facilities and product lines. We expect the company's revenues to witness a 7.3% CAGR during fiscal 2025-2027. Robust solvency further instills optimism about the stock. However, a volatile macroeconomic environment can dent its operations. Currency woes and fierce competitive pressure add to the worry.
The stock is up 19.61% over the past four weeks, and no earnings estimate has gone lower in the past two months, compared to 9 higher, for fiscal 2025. The consensus estimate has moved up as well.
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If You Invested $1000 in Thermo Fisher Scientific a Decade Ago, This is How Much It'd Be Worth Now

Intuitive Surgical ISRG reported a second-quarter 2025 gross margin of 67.9%, down from 70% in the prior-year period. While the company's top-line performance was solid, the margin compression highlights structural shifts underway within its operations and product mix.
A key driver of the margin contraction is the increasing contribution of newer, lower-margin platforms, specifically the da Vinci 5 and Ion systems. Although these technologies are central to ISRG’s next growth chapter, they come with elevated manufacturing and service costs, particularly in the early phases of commercialization. The da Vinci 5, in broad launch across the United States, requires more complex support infrastructure, pushing service costs higher.
Another notable factor is the impact of depreciation from recent capacity investments. ISRG's ongoing expansion, including the opening of a 187,000 sq. ft. facility in Bulgaria, adds incremental overhead even before full operational efficiency is realized. This strategic buildout reflects management’s commitment to scale production globally but creates short-term margin headwinds.
Tariff-related expenses added further pressure, reducing gross margin by approximately 60 basis points in the second quarter alone. The broader trade environment, especially U.S.-China tariff dynamics, is expected to exert an approximate 100 basis points annual drag on gross margin.
While these challenges are largely transitional, they reflect ISRG’s evolving business model. Management anticipates that over time, scale efficiencies, maturing service operations, and increased procedure volumes on da Vinci 5 and Ion systems will help recover margins. However, in the near term, investors should expect continued volatility in gross profitability as the company navigates this shift from a legacy high-margin portfolio to a broader, innovation-driven ecosystem.
Peer Performance
Boston Scientific BSX reported an adjusted gross margin of 69.4% in second-quarter 2025, down 100 basis points year over year. The decline was primarily due to inventory charges related to the discontinuation of the ACURATE valve. Despite this headwind, the company benefited from a favorable product mix and continued operational productivity, which helped partially offset the impact. GAAP gross margin was 67.7%. Management remains confident in its ability to expand gross margin over the long term, supported by ongoing cost-efficiency programs, manufacturing optimization, and the strength of high-growth, high-margin portfolios across its structural heart and neuromodulation segments.
Thermo Fisher’s TMO second-quarter 2025 adjusted gross margin was 41.3%, down about 80???bps from the year-ago level. Management said tariffs and FX shaved roughly 150???bps off this margin (about a 5% drag on operating profit), partly offset by nearly 70???bps of productivity gains. CFO Stephen Williamson noted these headwinds translate to roughly a 140???bps hit to reported margins. In short, trade-related costs and mix shifts narrowed gross margins, though strong cost-control measures (productivity improvements) helped cushion the decline.
ISRG’s Price Performance, Valuation and Estimates
Shares of ISRG have lost 5% in the year-to-date period compared with the industry’s decline of 6.8%.
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From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 56.6, above the industry average. But, it is still lower than its five-year median of 72.4. ISRG carries a Value Score of D.
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The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies a 11.3% rise from the year-ago period’s level.
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The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Indicator	TTM Median
P/E	26.30 23.75
Price/Sales	3.89 3.01
P/B	3.34 2.20
P/FCF	22.73 18.30

Indicator	TTM Median
ROE	13.24 25.41
ROA	6.44 6.00
ROI	8.09 9.66
Net Worth	166.50 0.20
Quick Ratio	1.29 1.71
Current Ratio	1.66 2.83

Indicator	TTM Median
Net Profit Margin	14.77 10.25
Operating Margin	17.11 14.24
Gross Margin	41.28 68.57
Return on tangible equity	0.00 53.53

Indicator	TTM Median
EPS	5.15 0.37
EPS Forecast	5.10 0.37
Revenue	11.40B 16.00M
Gross Profit	4.82B —
EBITDA	2.76B —

Thermo Fisher Scientific Inc

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