Thermo Fisher Scientific: Resilient Organic Growth and Stabilizing End Markets Support Sustained Buy Rating

William Blair analyst Matt Larew has maintained their bullish stance on TMO stock, giving a Buy rating today.

Matt Larew has given his Buy rating due to a combination of factors that point to Thermo Fisher’s solid underlying performance and improving outlook. The company slightly exceeded expectations on both revenue and earnings, with organic growth of about 3% supported by notable strength in Life Science Solutions, Specialty Diagnostics, and Lab Products and Biopharma Services. While margins came in modestly below his model, the business still delivered better-than-expected adjusted EPS, indicating strong operational execution despite some cost pressures. He also views Thermo Fisher’s performance alongside peers such as Danaher as evidence that demand across key end markets is stabilizing and beginning to recover.

Larew expects the upcoming 2026 guidance to align with the lower end of Thermo Fisher’s 3%–6% core growth framework, which he interprets as prudent rather than pessimistic in light of the current macro backdrop. In his assessment, the combination of resilient organic growth, a diversified portfolio with multiple growth drivers, and signs of end-market improvement underpins a favorable risk-reward profile for the shares. The slight margin shortfall is seen as manageable and more than offset by revenue and earnings outperformance and the potential for operating leverage as volumes improve. These elements collectively support his view that Thermo Fisher remains well positioned for sustainable growth and justify maintaining a Buy rating on the stock.

According to TipRanks, Larew is an analyst with an average return of -0.1% and a 49.40% success rate. Larew covers the Healthcare sector, focusing on stocks such as AptarGroup, MaxCyte, and Option Care Health.

In another report released today, Bank of America Securities also maintained a Buy rating on the stock with a $700.00 price target.