Scotia Capital Inc. Purchases 29,180 Shares of Thermo Fisher Scientific Inc. $TMO

Scotia Capital Inc. increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,720 shares of the medical research company’s stock after acquiring an additional 29,180 shares during the period. Scotia Capital Inc.’s holdings in Thermo Fisher Scientific were worth $47,322,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Soundwatch Capital LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $807,713,000. Flossbach Von Storch SE lifted its position in Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares in the last quarter. Nuveen LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter worth about $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. raised 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 worth $915,295,000 after acquiring an additional 514,399 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Thermo Fisher Scientific by 11.3% during the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock worth $1,985,759,000 after purchasing an additional 498,238 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 17,104 shares of the company’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $573.54, for a total value of $9,809,828.16. Following the completion of the sale, the chief executive officer owned 113,762 shares in the company, valued at $65,247,057.48. This represents a 13.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 24th. The stock was 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 represents a 1.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 51,800 shares of company stock worth $30,003,027 over the last ninety days. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.7%

NYSE TMO opened at $593.41 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $610.97. The company has a market capitalization of $222.95 billion, a PE ratio of 34.28, a P/E/G ratio of 3.27 and a beta of 0.82. The stock has a 50-day simple moving average of $546.30 and a 200 day simple moving average of $478.15.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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 company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated 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 buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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. The ex-dividend date is Monday, December 15th. This represents a $1.72 annualized dividend and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.94%.

Analyst Upgrades and Downgrades

TMO has been the subject of several research analyst reports. UBS Group boosted their price objective on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Citigroup boosted their target price on Thermo Fisher Scientific from $500.00 to $580.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Morgan Stanley upped their price target on Thermo Fisher Scientific from $560.00 to $656.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. Argus boosted their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Leerink Partners upped their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Nineteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.