Wedge Capital Management L L P NC Has $9.15 Million Position in Thermo Fisher Scientific Inc. $TMO

Wedge Capital Management L L P NC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,859 shares of the medical research company’s stock after purchasing an additional 1,012 shares during the period. Wedge Capital Management L L P NC’s holdings in Thermo Fisher Scientific were worth $9,147,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Thermo Fisher Scientific by 137.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Thermo Fisher Scientific during the first quarter worth $30,000. Capital A Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. DiNuzzo Private Wealth Inc. grew its position in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after buying an additional 61 shares during the last quarter. Finally, HighMark Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 140.6% in the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after purchasing an additional 45 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In other news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the sale, the chief operating officer owned 84,117 shares in the company, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This trade represents a 7.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 149,271 shares of company stock valued at $86,507,282. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.8%

TMO opened at $567.01 on Monday. The firm has a 50 day moving average price of $569.01 and a 200-day moving average price of $498.06. The stock has a market capitalization of $213.03 billion, a price-to-earnings ratio of 32.76, a PEG ratio of 4.21 and a beta of 0.90. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same quarter last year, the business earned $5.28 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, December 15th. Thermo Fisher Scientific’s payout ratio is 9.94%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMO. Barclays upped their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI upped their target price on Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Leerink Partners increased their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. Finally, The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $616.60.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.