Prentice Wealth Management LLC Reduces Position in Thermo Fisher Scientific Inc. $TMO

Prentice Wealth Management LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 22.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 823 shares of the medical research company’s stock after selling 237 shares during the period. Prentice Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $334,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock valued at $28,000 after buying an additional 33 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at $30,000. Keystone Global Partners LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at $31,000. IMA Advisory Services Inc. purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at $35,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter valued at $37,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a report on Wednesday, October 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. Citigroup increased their target price on Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday. Raymond James Financial reissued an “outperform” rating and issued a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, Hsbc Global Res downgraded Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $595.75.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $500.50, for a total transaction of $200,200.00. Following the sale, the chief executive officer owned 113,762 shares of the company’s stock, valued at approximately $56,937,881. This trade represents a 0.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares in the company, valued at $1,142,408.97. This trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,666 shares of company stock worth $13,990,971 in the last three months. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Up 0.8%

NYSE TMO opened at $571.94 on Friday. The stock’s 50-day moving average price is $502.38 and its 200-day moving average price is $452.23. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The company has a market capitalization of $215.97 billion, a P/E ratio of 33.04, a price-to-earnings-growth ratio of 3.25 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter last year, the company earned $5.28 earnings per share. The business’s revenue for the quarter 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. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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.