Thermo Fisher Scientific ($TMO) is no stranger to M&A. The company in the past few years has struck a series of deals to beef up in diagnostics, including its $13.6 billion pact for DNA sequencing giant Life Technologies. Now Thermo Fisher could be revving up its dealmaking engine again, one analyst says.
Thermo Fisher recently filed a mixed securities shelf registration for "general corporate purposes" that "may include the acquisition of companies and businesses," the company said in its filing. The shelf could augur a bigger deal in Thermo Fisher's pipeline, JPMorgan analyst Tycho Peterson said in a report last week, especially as med tech rivals such as Danaher ($DHR) and Agilent ($A) continue to snatch up businesses, Bloomberg reports.
Even though Thermo Fisher has a dealmaking track record, nailing down its next target could be difficult. Many potential candidates are either too expensive or too small, or come with risky technology or antitrust hurdles, Bloomberg Intelligence analyst Jonathan Palmer told the news outlet. "Thermo Fisher is looking at deals at all times. But finding a compelling asset is easier said than done," Palmer said.