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WALTHAM, Mass. - Thermo Fisher Scientific Inc. (NYSE:TMO), a global leader in serving science, announced today that Karen S. Lynch, the former president and CEO of CVS Health Corporation (NYSE: NYSE:CVS), has joined its board of directors. The appointment, effective immediately, increases the number of board members to 12. According to InvestingPro data, CVS maintains a "GOOD" financial health score and has shown strong market performance with a 48% year-to-date return.
Lynch’s career spans over 30 years in the health care sector, where she has held various executive roles. At CVS Health, she led a workforce of more than 300,000 and oversaw operations that impacted over 120 million consumers. Her tenure at CVS Health also included leading Aetna as an Executive Vice President and President before CVS’s acquisition of the health insurance company. Additionally, Lynch has held executive positions at Magellan Health (NASDAQ:MGLN) Services and Cigna Corporation (NYSE:CI). She began her professional journey as a Certified Public Accountant with Ernst & Young LLP.
Marc N. Casper, chairman, president, and CEO of Thermo Fisher Scientific, expressed confidence in Lynch’s appointment, stating, "Her knowledge and insight will be an incredible asset as we continue to scale our company and deliver for our stakeholders." Discover comprehensive analysis of both TMO and CVS, along with 1,400+ other US stocks, through detailed Pro Research Reports available on InvestingPro.
Thermo Fisher Scientific, with annual revenues exceeding $40 billion, supports a wide array of customers in life sciences research, laboratory productivity, patient health diagnostics, and the development and manufacture of therapies. The company’s portfolio includes several industry-leading brands such as Thermo Scientific, Applied Biosystems, and Fisher Scientific.
This expansion of the board with Lynch’s election is based on a press release statement from Thermo Fisher Scientific.
In other recent news, CVS Health reported strong fourth-quarter results for 2024, with an adjusted EBIT of $2.73 billion, surpassing expectations from both Raymond (NSE:RYMD) James and the broader market. The company’s adjusted earnings per share (EPS) also exceeded forecasts, coming in at $1.19 compared to the Street’s $0.91 estimate. Analyst firms have responded positively, with Raymond James raising its price target to $75 and maintaining an Outperform rating, while Truist Securities increased its target to $76, retaining a Buy rating. BofA Securities also raised its price target to $75, highlighting the potential earnings growth from CVS’s Aetna business unit.
Cantor Fitzgerald maintained its Overweight rating with a $71 target, emphasizing CVS Health’s significant exposure to Medicaid-related revenues and the potential impact of state-level healthcare policies. Meanwhile, CVS Health director Michael F. Mahoney purchased $2 million worth of company shares, a move often seen as a sign of confidence in the company’s future performance. This acquisition reflects internal optimism about CVS Health’s financial stability and direction. These developments underscore the company’s strategic positioning and the positive outlook from various analyst firms.
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