Oak Grove Capital LLC Reduces Position in Thermo Fisher Scientific Inc. $TMO

Oak Grove Capital LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 73.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,194 shares of the medical research company’s stock after selling 8,885 shares during the quarter. Oak Grove Capital LLC’s holdings in Thermo Fisher Scientific were worth $1,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. CCLA Investment Management increased its position in shares of Thermo Fisher Scientific by 19.0% during the second quarter. CCLA Investment Management now owns 317,881 shares of the medical research company’s stock valued at $128,837,000 after buying an additional 50,695 shares during the period. GoalVest Advisory LLC increased its position in shares of Thermo Fisher Scientific by 22.8% during the second quarter. GoalVest Advisory LLC now owns 399 shares of the medical research company’s stock valued at $162,000 after buying an additional 74 shares during the period. Cryder Capital Partners LLP increased its position in shares of Thermo Fisher Scientific by 6.1% during the second quarter. Cryder Capital Partners LLP now owns 344,676 shares of the medical research company’s stock valued at $139,752,000 after buying an additional 19,875 shares during the period. Banco Santander S.A. increased its position in shares of Thermo Fisher Scientific by 7.5% during the second quarter. Banco Santander S.A. now owns 93,852 shares of the medical research company’s stock valued at $38,053,000 after buying an additional 6,566 shares during the period. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of Thermo Fisher Scientific by 4.8% during the second quarter. Ashton Thomas Private Wealth LLC now owns 10,958 shares of the medical research company’s stock valued at $4,448,000 after buying an additional 500 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of several analyst reports. UBS Group upped their price target on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. Leerink Partners upped their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Wells Fargo & Company upped their price objective on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the stock an “overweight” rating in a research report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $595.75.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 385 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $500.96, for a total value of $5,009,600.00. Following the sale, the chief executive officer directly owned 115,174 shares of the company’s stock, valued at approximately $57,697,567.04. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,666 shares of company stock worth $13,990,971 over the last quarter. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.2%

Shares of NYSE TMO opened at $573.07 on Monday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $610.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $504.04 and its two-hundred day simple moving average is $453.56. The stock has a market capitalization of $216.40 billion, a P/E ratio of 33.11, a PEG ratio of 3.35 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same period last year, the business earned $5.28 earnings per share. The business’s quarterly revenue 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. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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.