Camden National Bank Boosts Stake in Thermo Fisher Scientific Inc. $TMO

Camden National Bank raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 56.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,050 shares of the medical research company’s stock after acquiring an additional 7,934 shares during the quarter. Camden National Bank’s holdings in Thermo Fisher Scientific were worth $8,940,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TMO. Brighton Jones LLC raised its holdings in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC raised its stake 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 worth $255,000 after acquiring an additional 20 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Thermo Fisher Scientific by 13.9% during the first quarter. Venturi Wealth Management LLC now owns 1,491 shares of the medical research company’s stock valued at $742,000 after acquiring an additional 182 shares during the last quarter. IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $35,000. Finally, Burney Co. grew its holdings in Thermo Fisher Scientific by 46.0% in the first quarter. Burney Co. now owns 1,237 shares of the medical research company’s stock worth $616,000 after purchasing an additional 390 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, October 14th. William Blair assumed coverage on Thermo Fisher Scientific in a report on Monday, August 18th. They issued an “outperform” rating for the company. Leerink Partners upped their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Royal Bank Of Canada set a $561.00 price target on shares of Thermo Fisher Scientific and gave the company 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 assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $601.65.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Friday, October 24th. The shares were sold at an average price of $574.15, for a total transaction of $229,660.00. Following the sale, the executive vice president directly owned 21,152 shares of the company’s stock, valued at approximately $12,144,420.80. This represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction on Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at $1,142,408.97. The trade was a 14.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,845 shares of company stock valued at $23,947,352 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $587.47 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The business’s 50 day moving average price is $537.07 and its 200 day moving average price is $473.00. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The firm has a market cap of $220.72 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.27 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data 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 net margin of 15.02% and a return on equity of 16.97%. The business had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. During the same period in the prior 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. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.43 dividend. 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 payout ratio is 9.94%.

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

About Thermo Fisher Scientific

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.