Korea Investment CORP Sells 96,717 Shares of Thermo Fisher Scientific Inc. $TMO

Korea Investment CORP reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.2% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 258,981 shares of the medical research company’s stock after selling 96,717 shares during the period. Korea Investment CORP owned about 0.07% of Thermo Fisher Scientific worth $105,006,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of TMO. Soundwatch Capital LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth $807,713,000. Flossbach Von Storch SE boosted its holdings in Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after purchasing an additional 1,314,182 shares during the last quarter. Nuveen LLC bought a new stake in Thermo Fisher Scientific in the 1st quarter worth about $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Thermo Fisher Scientific by 29.5% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock worth $915,295,000 after buying an additional 514,399 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock worth $1,985,759,000 after buying an additional 498,238 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. TD Cowen lifted their price target on Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $560.00 to $656.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 28th. Wells Fargo & Company raised their price objective 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. Royal Bank Of Canada set a $561.00 target price on shares of Thermo Fisher Scientific and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Finally, Citigroup upped their price objective on Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. Nineteen 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, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $601.65.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This trade represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the completion of the transaction, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 52,570 shares of company stock worth $30,382,352. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.7%

TMO opened at $593.41 on Thursday. The company has a 50 day moving average of $544.05 and a 200 day moving average of $477.35. 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 12 month low of $385.46 and a 12 month high of $610.97. The company has a market cap of $222.95 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82.

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 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 firm had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the prior year, the business posted $5.28 earnings per share. The business’s quarterly revenue 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 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

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

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.