Harvest Portfolios Group Inc. Has $52.68 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Harvest Portfolios Group Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 30.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 129,916 shares of the medical research company’s stock after purchasing an additional 30,176 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Thermo Fisher Scientific were worth $52,676,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted its position in shares of Thermo Fisher Scientific by 137.5% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after purchasing an additional 33 shares during the period. Anderson Financial Strategies LLC bought a new stake in Thermo Fisher Scientific during the first quarter valued at $30,000. Keystone Global Partners LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth about $31,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 61 shares during the period. Finally, HighMark Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 140.6% in the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on TMO. HSBC reiterated a “hold” rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. JPMorgan Chase & Co. raised their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Royal Bank Of Canada set a $561.00 price target on Thermo Fisher Scientific and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Finally, Barclays raised their price objective on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.65.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joseph R. Holmes sold 385 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the sale, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at $1,142,408.97. This represents a 14.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 36,420 shares of company stock worth $19,980,884. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Down 0.2%

Shares of NYSE:TMO opened at $566.47 on Friday. The stock has a market cap of $212.83 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.27 and a beta of 0.82. The business’s 50 day moving average is $516.99 and its 200 day moving average is $461.35. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend 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 announced that its Board of Directors has initiated a share buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific 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.