Thermo Fisher Scientific Inc. $TMO Position Lowered by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.9% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,626 shares of the medical research company’s stock after selling 709 shares during the period. Westfield Capital Management Co. LP’s holdings in Thermo Fisher Scientific were worth $5,525,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC raised its position in shares of Thermo Fisher Scientific by 137.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 33 shares in the last quarter. Anderson Financial Strategies LLC acquired a new stake in shares of Thermo Fisher Scientific during the first quarter worth $30,000. Keystone Global Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at about $31,000. IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific during the first quarter worth about $35,000. Finally, DiNuzzo Private Wealth Inc. lifted its holdings 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 worth $31,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.2%

Shares of TMO stock opened at $572.77 on Friday. 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 Inc. has a 12 month low of $385.46 and a 12 month high of $610.97. The stock has a 50 day moving average of $534.91 and a 200-day moving average of $471.86. The firm has a market cap of $215.20 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is 9.94%.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Morgan Stanley raised their target price on Thermo Fisher Scientific from $560.00 to $656.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Nineteen equities 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.65.

Insider Activity

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific 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 directly owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. The trade was 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 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 completion of the transaction, the executive vice president directly 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. Over the last quarter, insiders have sold 41,845 shares of company stock valued at $23,947,352. 0.33% of the stock is owned by company insiders.

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.