Baron Fund Boosts Thermo Fisher Stake as Analysts Rate It “Moderate Buy”
Baron Health Care Fund added to its Thermo Fisher Scientific position during Q4 2025, citing expectations for 3%–6% organic revenue growth in 2026–2027 and projecting mid-to-high single-digit operating income gains. Analysts maintain a consensus “Moderate Buy” rating, with 18 buys, three holds and one strong buy recommendation.
1. Fund Letter Highlights Growth Outlook
In its Q4 2025 investor letter, Baron Health Care Fund disclosed an increase in its Thermo Fisher position, noting improving end markets driven by steady biopharma R&D funding and favorable drug pricing agreements. Management forecasts 3%–6% organic revenue growth in 2026–2027, with potential for 7%+ beyond 2027, underpinned by cost controls and strong long-term life sciences demand.
2. Q4 2025 Financials
Thermo Fisher reported $12.21 billion in Q4 2025 revenue, up 7% year-over-year, but its share price declined 12.36% over the past month and 5.09% over the past year, closing at $542.36 per share on February 5, 2026, for a $203.8 billion market cap.
3. Analyst Consensus Rating
Twenty-two brokerages cover Thermo Fisher, assigning one strong buy, 18 buy and three hold ratings, leading to an average “Moderate Buy” consensus. This reflects a generally positive analyst outlook despite recent share weakness.
4. Hedge Fund Popularity
Thermo Fisher ranks 26th among the 30 most popular stocks in hedge fund portfolios, with 121 funds holding the stock at the end of Q3 2025, up from 117 in Q2, indicating growing institutional interest.