Geode Capital Management LLC Sells 12,399 Shares of Thermo Fisher Scientific Inc. $TMO

Geode Capital Management LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the second quarter, Holdings Channel.com reports. The institutional investor owned 8,114,787 shares of the medical research company’s stock after selling 12,399 shares during the period. Geode Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $3,274,161,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Revolve Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares in the last quarter. Lafayette Investments Inc. lifted its stake in Thermo Fisher Scientific by 2.4% in the second quarter. Lafayette Investments Inc. now owns 927 shares of the medical research company’s stock valued at $376,000 after buying an additional 22 shares in the last quarter. Rossmore Private Capital increased its position in shares of Thermo Fisher Scientific by 0.5% during the first quarter. Rossmore Private Capital now owns 4,652 shares of the medical research company’s stock worth $2,315,000 after acquiring an additional 24 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH raised its holdings in shares of Thermo Fisher Scientific by 3.1% during the second quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 803 shares of the medical research company’s stock worth $326,000 after acquiring an additional 24 shares during the period. Finally, Somerville Kurt F boosted its stake in Thermo Fisher Scientific by 1.6% in the 2nd quarter. Somerville Kurt F now owns 1,605 shares of the medical research company’s stock worth $651,000 after purchasing an additional 25 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 1.7%

Shares of Thermo Fisher Scientific stock opened at $586.37 on Wednesday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97. The company has a market capitalization of $220.30 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 3.27 and a beta of 0.82. The business has a fifty day simple moving average of $522.26 and a two-hundred day simple moving average of $465.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

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 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 company had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same quarter last year, the company posted $5.28 EPS. Thermo Fisher Scientific’s quarterly revenue 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. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 385 shares of the business’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 in the company, valued at $1,142,408.97. The trade was a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction 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 $12,144,420.80. The trade was a 1.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 46,645 shares of company stock valued at $25,825,699. 0.33% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TMO shares. Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $612.00 to $654.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $601.65.

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.