Shares of Thermo Fisher Scientific (NYSE: TMO) recently bounced a few percentage points higher. Investors were responding to fourth-quarter earnings and new forward-looking estimates that exceeded expectations.

Thermo Fisher stock soared 182% during the three-year period that ended on Dec. 31, 2021, but 2022 was a difficult year. The stock price has fallen about 12% from the peak it reached over a year ago.

Its stock price is down, but Thermo Fisher is a much larger business now than it was at the end of 2021. Let's look under the hood to see if it's a smart buy at recent prices.

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Source Fool.com