Is Thermo Fisher Scientific Stock Outperforming the Nasdaq?

Valued at a market cap of $230 billion, Thermo Fisher Scientific Inc. (TMO) is a global leader in serving the life sciences industry, providing the tools, technologies, diagnostics, laboratory supplies, and outsourced services to conduct research, develop medicines, and improve patient care. The Waltham, Massachusetts-based company portfolio spans reagents and consumables, analytical and laboratory instruments, genetic and molecular biology technologies, diagnostic products, and biopharmaceutical development and manufacturing services.

Companies valued at $200 billion or more are generally classified as “mega-cap” stocks, and Thermo Fisher Scientific fits this criterion perfectly. 

The company's shares have fallen 3.8% from its 52-week high of $647. TMO stock has declined 27.7% over the past three months, notably underperforming the Nasdaq Composite’s ($NASX) 1.9% fall 

The stock is up 7.4% on a YTD basis, lagging behind NASX’s nearly 13.6% rise. In the longer term, however, shares of Thermo Fisher Scientific have soared 27% over the past 52 weeks, outpacing the index’s 21.6% return over the same time frame.

The stock has been trading above its 50-day moving average since late June and over its 200-day moving average since mid-July. 

Thermo Fisher Scientific has outpaced the broader market over the past year as improving life-sciences demand, strong execution, and accelerating earnings growth have strengthened investor confidence. The company has benefited from a recovery in biotech and pharmaceutical research spending, while broad-based growth across its businesses has supported higher revenue and expanding margins. Its better-than-expected recent quarterly results and raised 2026 outlook have further reinforced expectations for sustained growth. 

However, TMO stock has outperformed its rival, Danaher Corporation (DHR). DHR stock has dropped 5.6% on a YTD basis and nearly 5.3% rally over the past 52 weeks. 

Analysts remain strongly optimistic about its prospects. The stock has a consensus rating of “Strong Buy” from 26 analysts' coverage, and the mean price target of $636.56 is a premium of 2.3% to current levels.