Thermo Fisher Scientific (TMO) Sets Stage for Q4 Rally with Impressive Q3 Earnings and New 52-Week High

Core Insights - Bristol Gate Capital Partners emphasizes investing in companies with strong free cash flows, disciplined capital allocation, and high dividend growth for superior risk-adjusted returns [1] - The market has shifted towards AI leaders since late 2022, leading to the fund's underperformance due to narrow breadth, although there is a recent shift supported by the outperformance of dividend-focused indices [1] - The firm's Data Science team's advancements in the Distant Future Model present strong opportunities for investors to buy into the strategy and mitigate risks in a concentrated market [1] Company Focus: Thermo Fisher Scientific Inc. - Thermo Fisher Scientific Inc. is highlighted as a leading contributor in the Q4 2025 investor letter, focusing on life sciences solutions, analytical instruments, specialty diagnostics, and biopharma services [2] - As of March 27, 2026, Thermo Fisher's share price was $473.36, with a one-month return of -6.93% and a 52-week loss of 4.87%, and a market capitalization of $175.846 billion [2] - The company experienced a rally in Q4, reaching a new 52-week high, driven by strong Q3 earnings that exceeded consensus expectations, and anticipates growth in 2026 as headwinds abate [3]