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

WASHINGTON TRUST Co decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,437 shares of the medical research company’s stock after selling 545 shares during the period. Thermo Fisher Scientific makes up 1.4% of WASHINGTON TRUST Co’s investment 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 Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in TMO. CBIZ Investment Advisory Services LLC lifted its stake in Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after acquiring an additional 33 shares during the last quarter. Anderson Financial Strategies LLC acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $30,000. Keystone Global Partners LLC bought a new stake in Thermo Fisher Scientific in the first quarter worth $31,000. DiNuzzo Private Wealth Inc. grew its position in shares of Thermo Fisher Scientific by 406.7% in the second 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 last quarter. Finally, HighMark Wealth Management LLC lifted its stake in shares of 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 valued at $31,000 after buying an additional 45 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer owned 2,319 shares in the company, valued at $1,142,408.97. This represents a 14.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 17,104 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $573.54, for a total transaction of $9,809,828.16. Following the completion of the transaction, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $65,247,057.48. This represents a 13.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 46,645 shares of company stock worth $25,825,699. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research analyst reports. Leerink Partners boosted their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Barclays lifted their price objective on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Evercore ISI upped their price objective on Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $560.00 to $656.00 and gave the company an “overweight” rating in a research report on Tuesday, October 28th. Finally, Citigroup upped their target price on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $601.65.

Thermo Fisher Scientific Price Performance

NYSE TMO traded up $7.54 on Thursday, reaching $595.56. The company’s stock had a trading volume of 156,849 shares, compared to its average volume of 2,356,504. The firm has a market cap 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. 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 52 week low of $385.46 and a 52 week high of $610.97. The business has a 50-day moving average price of $524.35 and a 200 day moving average price of $465.87.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.90 billion. During the same period last year, the firm earned $5.28 EPS. The business’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. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

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.