Thermo Fisher’s Pullback Is Setting Up Its Next Phase of Growth

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On October 17, 2025, E. Ohman J:or Asset Management AB disclosed a buy of 18,686 shares of Thermo Fisher Scientific (NYSE:TMO), an estimated $8.70 million trade.

What happened

According to a filing with the Securities and Exchange Commission dated October 17, 2025, E. Ohman J:or Asset Management AB acquired 18,686 additional shares during Q3 2025. The estimated value of the trade, based on average closing prices during the quarter, was approximately $8.70 million. The fund reported holding 104,361 shares at quarter-end, with a total position value of $50.62 million.

What else to know

The transaction was a buy and now represents 1.19% of E. Ohman J:or Asset Management AB’s reportable U.S. equity assets as of September 30, 2025.

Top holdings after the filing:

• MSFT: $396.72 million (9.3% of AUM) as of September 30, 2025
• NVDA: $347.06 million (8.2% of AUM) as of September 30, 2025
• GOOGL: $305.56 million (7.2% of AUM) as of September 30, 2025
• AAPL: $262.11 million (6.2% of AUM) as of September 30, 2025
• AMZN: $235.95 million (5.6% of AUM) as of September 30, 2025

As of October 16, 2025, shares were priced at $536.78, down 9.3% over the past year, underperforming the S&P 500 by 24.3 percentage points.

Reported trailing twelve months revenue of $43.21 billion and net income of $6.58 billion as of June 28, 2025.

The fund reported 398 total positions and $4.25 billion in U.S. equity assets as of its 13F filing.

Company Overview

Company Snapshot

Thermo Fisher Scientific operates at global scale, providing critical tools and services for scientific research, diagnostics, and drug development. The company leverages its diversified portfolio and broad customer base to drive consistent revenue growth.

Its product offerings include life sciences solutions, analytical instruments, specialty diagnostics, laboratory products, and biopharma services across global markets.

Thermo Fisher Scientific generates revenue through the sale of reagents, instruments, consumables, diagnostics kits, and laboratory services, supported by direct sales, e-commerce, and third-party distribution channels.

The company serves pharmaceutical, biotechnology, clinical, academic, government, and industrial customers worldwide.

Foolish take

Thermo Fisher Scientific has seen its stock cool this year, but what looks like fatigue may instead be a reset for one of the market's most dependable compounders. Swedish fund E. Ohman J:or Asset Management increased its stake by nearly $9 million. This move reflects renewed conviction in the company that remains central in the life sciences industry.

Over the past year, Thermo Fisher's stock has eased after several strong years of growth. Investors have been cautious as biotech spending and lab equipment budgets soften, yet the company's fundamentals remain sound. Revenue stands above $43 billion over the past twelve months, and is supported by a portfolio that spans nearly every stage of drug development and diagnostics. Thermo Fisher's steady margins and pricing power give it the flexibility to reinvest in R&D and targeted acquisitions, thereby positioning itself to widen its moat in areas such as genetic testing and bioprocessing.

Markets can overlook the value of steady progress, and consistency is often what drives real compounding. For investors who are willing to look past the recent slowdown, Thermo Fisher still represents what disciplined growth looks like in practice, and its steady results make it a company worth holding through any market cycle.

Glossary

13F filing: A quarterly report by institutional investment managers disclosing their U.S. equity holdings to the SEC.
Assets under management (AUM): The total market value of investments managed on behalf of clients by a fund or firm.
Reportable assets: Investments that must be disclosed in regulatory filings, such as those required by the SEC.
Trailing twelve months (TTM): The 12-month period ending with the most recent quarterly report.
Dividend yield: Annual dividends paid by a company divided by its current share price, shown as a percentage.
Biopharma services: Specialized services supporting pharmaceutical and biotechnology companies, including drug development and manufacturing.
Consumables: Products used up during laboratory or industrial processes, such as reagents or testing kits.
Direct sales: Selling products or services directly to customers without intermediaries.
Third-party distribution channels: Independent companies or agents that sell products on behalf of a manufacturer.
Quarter-end: The last day of a company’s fiscal quarter, used for reporting financial results.
Estimated trade size: The approximate dollar value of a securities transaction, often based on average prices.

Eric Trie has positions in Nvidia. The Motley Fool has positions in and recommends Alphabet, Amazon, Apple, Microsoft, Nvidia, and Thermo Fisher Scientific. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.