Portside Wealth Group LLC Reduces Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Portside Wealth Group LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,434 shares of the medical research company’s stock after selling 147 shares during the quarter. Portside Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $4,231,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Flossbach Von Storch SE increased its holdings in shares of Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after acquiring an additional 1,314,182 shares during the period. Nuveen LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at about $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Thermo Fisher Scientific by 29.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock valued at $915,295,000 after buying an additional 514,399 shares in the last quarter. EdgePoint Investment Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth $172,139,000. Finally, Lindsell Train Ltd grew its position in Thermo Fisher Scientific by 68.0% during the second quarter. Lindsell Train Ltd now owns 854,612 shares of the medical research company’s stock worth $346,511,000 after buying an additional 345,822 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 7,250 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the transaction, the chief executive officer owned 113,762 shares in the company, valued at $64,400,668.20. This trade represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 24th. The shares were sold at an average price of $574.15, for a total value of $229,660.00. Following the transaction, the executive vice president owned 21,152 shares in the company, valued at approximately $12,144,420.80. This trade represents a 1.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 52,140 shares of company stock worth $29,104,464. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.9%

Thermo Fisher Scientific stock opened at $567.49 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97. The firm’s 50-day moving average is $529.51 and its 200-day moving average is $469.36. The company has a market cap of $213.21 billion, a P/E ratio of 32.78, a PEG ratio of 3.27 and a beta of 0.82.

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

Thermo Fisher Scientific declared that its board has approved a share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared 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 dividend on an annualized basis 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

A number of brokerages have recently weighed in on TMO. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Citigroup upped their price target on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Finally, William Blair assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an “outperform” rating for the company. Nineteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.65.

About Thermo Fisher Scientific

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.