PKI - Fears Of A Post-Pandemic Hangover Have Weighed On Thermo Fisher's Shares

• Investors seem to be concerned about the revenue and margin pressures that Thermo Fisher will face as pandemic testing demand fades, but the impact isn't likely to be that bad.
• Bioproduction still offers significant long-term growth, as do areas of instrumentation like cytology, and the pandemic created an expanded testing base that Thermo can sell into for years to come.
• Thermo's ability to allocate capital into M&A could be limited by the current administration's more stringent view of antitrust.
• Thermo shares appear priced for a mid-single-digit long-term return.

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