Palouse Capital Management Inc. Acquires 1,761 Shares of Thermo Fisher Scientific Inc. $TMO

Palouse Capital Management Inc. lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 62.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,573 shares of the medical research company’s stock after buying an additional 1,761 shares during the quarter. Palouse Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,854,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC lifted its stake in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares in the last quarter. Lafayette Investments Inc. lifted its stake in Thermo Fisher Scientific by 2.4% during the second quarter. Lafayette Investments Inc. now owns 927 shares of the medical research company’s stock worth $376,000 after purchasing an additional 22 shares in the last quarter. Rossmore Private Capital raised its position in Thermo Fisher Scientific by 0.5% in the 1st quarter. Rossmore Private Capital now owns 4,652 shares of the medical research company’s stock valued at $2,315,000 after purchasing an additional 24 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its position in shares of Thermo Fisher Scientific by 3.1% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 803 shares of the medical research company’s stock valued at $326,000 after buying an additional 24 shares during the last quarter. Finally, Somerville Kurt F increased its stake in Thermo Fisher Scientific by 1.6% in the second quarter. Somerville Kurt F now owns 1,605 shares of the medical research company’s stock valued at $651,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.9%

NYSE:TMO opened at $577.28 on Tuesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $610.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The business’s 50-day simple moving average is $520.27 and its 200-day simple moving average is $463.86. The stock has a market capitalization of $216.89 billion, a PE ratio of 33.35, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82.

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

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. UBS Group raised their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Royal Bank Of Canada set a $561.00 price target on shares of Thermo Fisher Scientific and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Nineteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $601.65.

Insiders Place Their Bets

In related news, CAO Joseph R. Holmes sold 385 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at $1,142,408.97. This trade represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 17,104 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $573.54, for a total value of $9,809,828.16. Following the transaction, the chief executive officer owned 113,762 shares in the company, valued at $65,247,057.48. The trade was a 13.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 46,645 shares of company stock worth $25,825,699. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.