Prossimo Advisors LLC Trims Stake in Thermo Fisher Scientific Inc. $TMO

Prossimo Advisors LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 30.9% in the second quarter, Holdings Channel.com reports. The fund owned 1,143 shares of the medical research company’s stock after selling 512 shares during the period. Prossimo Advisors LLC’s holdings in Thermo Fisher Scientific were worth $463,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in TMO. Orleans Capital Management Corp LA lifted its holdings in shares of Thermo Fisher Scientific by 20.7% in the 2nd quarter. Orleans Capital Management Corp LA now owns 6,317 shares of the medical research company’s stock worth $2,561,000 after buying an additional 1,085 shares during the period. Bristol Gate Capital Partners Inc. grew its holdings in shares of Thermo Fisher Scientific by 6.9% during the second quarter. Bristol Gate Capital Partners Inc. now owns 173,498 shares of the medical research company’s stock valued at $70,347,000 after buying an additional 11,183 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in Thermo Fisher Scientific by 38.6% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 209,712 shares of the medical research company’s stock valued at $85,145,000 after buying an additional 58,358 shares during the last quarter. West Family Investments Inc. raised its position in shares of Thermo Fisher Scientific by 31.9% in the second quarter. West Family Investments Inc. now owns 1,187 shares of the medical research company’s stock worth $481,000 after acquiring an additional 287 shares during the period. Finally, Loomis Sayles & Co. L P grew its stake in Thermo Fisher Scientific by 5.0% in the 2nd quarter. Loomis Sayles & Co. L P now owns 1,414,392 shares of the medical research company’s stock valued at $573,479,000 after acquiring an additional 67,412 shares during the period. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. William Blair began coverage on shares of Thermo Fisher Scientific in a research note on Monday, August 18th. They set an “outperform” rating on the stock. Royal Bank Of Canada set a $561.00 price objective on Thermo Fisher Scientific and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $612.00 to $654.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Finally, Argus raised their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $601.65.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 4,638 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $594.42, for a total value of $2,756,919.96. Following the sale, the chief operating officer owned 23,480 shares in the company, valued at $13,956,981.60. This trade represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 7,250 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the transaction, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 51,800 shares of company stock worth $30,003,027 over the last quarter. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 0.2%

Thermo Fisher Scientific stock opened at $591.99 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The firm has a market capitalization of $222.42 billion, a PE ratio of 34.20, a PEG ratio of 3.27 and a beta of 0.82. The business’s 50-day simple moving average is $548.54 and its 200-day simple moving average is $480.12. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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. 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 the consensus estimate of $10.90 billion. During the same quarter in the previous year, the company earned $5.28 EPS. The firm’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. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase 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 purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

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.