Portside Wealth Group LLC Trims Stake in Thermo Fisher Scientific Inc. $TMO

Portside Wealth Group LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,434 shares of the medical research company’s stock after selling 147 shares during the period. Portside Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $4,231,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Mondrian Investment Partners LTD boosted its position in Thermo Fisher Scientific by 146.1% in the 1st 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 raised its stake in shares of Thermo Fisher Scientific by 10.5% during the second quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after acquiring an additional 11,817 shares in the last quarter. Caledonia Investments PLC grew its stake in Thermo Fisher Scientific by 11.5% in the second quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock worth $45,299,000 after purchasing an additional 11,500 shares in the last quarter. Heritage Investors Management Corp increased its holdings in Thermo Fisher Scientific by 9.6% during the 2nd 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 during the period. Finally, Vontobel Holding Ltd. raised its position in Thermo Fisher Scientific by 4.5% during the 2nd 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 in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CAO Joseph R. Holmes sold 385 shares of the stock in a transaction that occurred 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 owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. This trade represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $574.15, for a total transaction of $229,660.00. Following the sale, the executive vice president owned 21,152 shares of the company’s stock, valued at approximately $12,144,420.80. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 52,140 shares of company stock worth $29,104,464 in the last 90 days. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Wells Fargo & Company increased their target price on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Evercore ISI upped their target price on Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Finally, Royal Bank Of Canada set a $561.00 price objective on Thermo Fisher Scientific and gave the stock an “outperform” rating in a research note on Tuesday, September 2nd. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $601.65.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $567.49 on Tuesday. The company has a market cap of $213.21 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company’s 50 day moving average is $529.51 and its 200 day moving average is $469.36. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. 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 (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.90 billion. During the same period in the previous year, the company posted $5.28 earnings per share. Thermo Fisher Scientific’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. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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 issued a dividend of $0.43 per share. The ex-dividend date of this dividend 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 is presently 9.94%.

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.