State of Alaska Department of Revenue Sells 2,061 Shares of Thermo Fisher Scientific Inc. $TMO

State of Alaska Department of Revenue cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 40,446 shares of the medical research company’s stock after selling 2,061 shares during the quarter. State of Alaska Department of Revenue’s holdings in Thermo Fisher Scientific were worth $19,617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CBIZ Investment Advisory Services LLC raised its holdings in 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 worth $28,000 after buying an additional 33 shares during the period. Highline Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $30,000. Capital A Wealth Management LLC boosted its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the period. Finally, DiNuzzo Private Wealth Inc. lifted its position in Thermo Fisher Scientific by 406.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Leerink Partners increased their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Citigroup upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $580.00 to $660.00 in a research report on Thursday, December 11th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Finally, Barclays lifted 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. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $621.70.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $606.16 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $628.08. The company’s 50 day moving average is $580.33 and its 200-day moving average is $515.03. 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 $227.74 billion, a P/E ratio of 35.02, a price-to-earnings-growth ratio of 4.06 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $10.90 billion. Thermo Fisher Scientific’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders 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 payout ratio is 9.94%.

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

Insider Activity at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% 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 worth $86,507,282 over the last ninety days. Insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.