EdgePoint Investment Group Inc. Raises Position in Thermo Fisher Scientific Inc. $TMO

EdgePoint Investment Group Inc. raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 282.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,323,065 shares of the medical research company’s stock after buying an additional 977,127 shares during the quarter. Thermo Fisher Scientific comprises about 4.1% of EdgePoint Investment Group Inc.’s holdings, making the stock its 14th largest position. EdgePoint Investment Group Inc. owned 0.35% of Thermo Fisher Scientific worth $536,450,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CBIZ Investment Advisory Services LLC raised 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 valued at $28,000 after purchasing an additional 33 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in shares of Thermo Fisher Scientific in the 1st quarter worth $30,000. Keystone Global Partners LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $31,000. DiNuzzo Private Wealth Inc. increased its stake in 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 acquiring an additional 61 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its position in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 45 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on TMO. UBS Group boosted their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Barclays upped their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. TD Cowen lifted their target price on shares of Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday. They set a “buy” rating and a $685.00 price target for the company. Finally, Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $614.60.

Thermo Fisher Scientific Stock Down 1.2%

NYSE TMO opened at $572.03 on Friday. The business’s 50-day moving average is $565.86 and its 200 day moving average is $490.95. The stock has a market capitalization of $214.92 billion, a PE ratio of 33.05, a PEG ratio of 4.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share 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 business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same quarter last year, the business posted $5.28 EPS. The business’s 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. Sell-side analysts forecast 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 declared a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis 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 presently 9.94%.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 7,250 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the transaction, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This represents a 7.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 149,271 shares of company stock valued at $86,507,282 over the last ninety days. 0.33% of the stock is owned by corporate 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.