Nanotechnology is a rapidly emerging technology with potential uses in many sectors, including healthcare, energy, and agriculture. For example, with the world facing its worst public health catastrophe in history…
nanotech healthcare applications are helping create effective ways to identify, diagnose, treat, and prevent the spread of the coronavirus.
The increasing adoption of nanotechnology in medical diagnosis & imaging and other industries, and the emergence of self-powered nanotech devices are anticipated to drive the growth of the nanotechnology industry. Increasing government support should aid this growth. As a result, the global nanotechnology industry is expected to reach $33.63 billion by 2030, growing at a CAGR of $36.4%.
Given this backdrop, it may be prudent to bet on fundamentally sound nanotech stocks Thermo Fisher Scientific Inc. (TMO – Get Rating), Intel Corporation (INTC – Get Rating), Applied Materials Inc. (AMAT – Get Rating), and BASF SE (BASFY – Get Rating) as they are well-positioned to capitalize on the industry’s growth.
Thermo Fisher Scientific Inc. (TMO – Get Rating)
TMO is a scientific instrumentation and software service provisioner involved in developing and distributing various products under the brand names Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services. The company operated through four segments: Life Sciences Solutions; Analytical Instruments; Specialty Diagnostics; and Laboratory Products and Services.
This month, the U.S. Department of Defense (DoD) awarded TMO a $192.5 million contract to ensure consistent domestic manufacturing of pipette tips used in research and diagnostic labs to dispense precise amounts of liquid.
In July, TMO opened a new cGMP plasmid DNA manufacturing facility in Carlsbad, California, to meet the rapidly increasing demand for plasmid DNA-based therapies and mRNA-based vaccines. As plasmid DNA is increasingly being used as a therapeutic option in gene treatments and vaccinations, the company is well-positioned to see substantial growth in revenues in the upcoming months.
During the second quarter ended July 3, 2021, TMO’s revenue increased 34.1% year-over-year to $9.27 billion. The company’s operating income increased 55.5% year-over-year to $2.16 billion over this period. Its net income increased 58.1% year-over-year to $1.83 billion, while its EPS grew 59% from the prior-year quarter to $4.61.
The consensus EPS estimate of $22.16 for the current year represents a 13.4% improvement year-over-year. The consensus revenue estimate of $36.06 billion for 2021 represents an 11.9% increase from the same period last year. The stock has gained 36% over the past year and 22.1% year-to-date.
TMO’s POWR Ratings reflect this promising outlook. The company has an overall rating of B, which translates to Buy in our proprietary rating system. The POWR Ratings assess stocks by 118 different factors, each with its weighting.
TMO has also rated a B grade for Sentiment. Within the Medical – Diagnostics/Research industry, it is ranked #13 of 56 stocks.
To see additional POWR Ratings for Momentum, Value, Quality, Stability, and Growth for TMO, click here.
Intel Corporation (INTC – Get Rating)
INTC is a global technology company that develops, produces, and distributes cloud, smart, and connected device technologies for retail, industrial, and consumer applications. DCG; IOTG; Mobileye; NSG; PSG; CCG; and All Other are the operational segments of the company. Additionally, it has established a strategic relationship with MILA to develop and use artificial intelligence technologies for improving drug discovery.
Last month, the U.S. Department of Defense granted…
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