WASHINGTON TRUST Co Sells 545 Shares of Thermo Fisher Scientific Inc. $TMO

WASHINGTON TRUST Co lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the second quarter, Holdings Channel reports. The firm owned 95,437 shares of the medical research company’s stock after selling 545 shares during the period. Thermo Fisher Scientific comprises 1.4% of WASHINGTON TRUST Co’s portfolio, making the stock its 18th largest holding. WASHINGTON TRUST Co’s holdings in Thermo Fisher Scientific were worth $38,696,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mondrian Investment Partners LTD raised its stake in shares of Thermo Fisher Scientific by 146.1% in the first quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company’s stock valued at $106,738,000 after buying an additional 127,357 shares during the period. TIAA Trust National Association increased its holdings in Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after acquiring an additional 11,817 shares during the last quarter. Caledonia Investments PLC lifted its holdings in Thermo Fisher Scientific by 11.5% during the second quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock valued at $45,299,000 after purchasing an additional 11,500 shares during the last quarter. Heritage Investors Management Corp increased its stake in shares of Thermo Fisher Scientific by 9.6% in the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after purchasing an additional 4,971 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of Thermo Fisher Scientific by 4.5% in the second quarter. Vontobel Holding Ltd. now owns 1,089,103 shares of the medical research company’s stock valued at $441,588,000 after purchasing an additional 46,743 shares during the period. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TMO shares. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. TD Cowen lifted their target price on Thermo Fisher Scientific from $612.00 to $654.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. 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. Finally, UBS Group upped their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.65.

Thermo Fisher Scientific Trading Up 1.3%

Shares of TMO stock traded up $7.54 during mid-day trading on Thursday, reaching $595.56. The stock had a trading volume of 156,849 shares, compared to its average volume of 2,356,504. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The stock’s 50-day moving average price is $524.35 and its two-hundred day moving average price is $465.87. The firm has a market capitalization of $223.76 billion, a PE ratio of 34.30, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. 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 quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share 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 company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the prior year, the firm earned $5.28 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

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

Insiders Place Their Bets

In other news, 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 sale, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $65,247,057.48. This represents a 13.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 10,225 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president directly owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. This trade represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 46,645 shares of company stock valued at $25,825,699. Company 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.