Thermo Fisher Scientific Inc. $TMO Shares Sold by Procyon Advisors LLC

Procyon Advisors LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,340 shares of the medical research company’s stock after selling 989 shares during the period. Procyon Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,075,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. TIAA Trust National Association increased its stake in shares of Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after acquiring an additional 11,817 shares during the last quarter. Lombard Odier Asset Management Switzerland SA grew its stake in shares of Thermo Fisher Scientific by 8.4% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after buying an additional 1,128 shares during the period. Caledonia Investments PLC increased its holdings in shares of Thermo Fisher Scientific by 11.5% during the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock worth $45,299,000 after buying an additional 11,500 shares during the last quarter. Weaver Capital Management LLC acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $506,000. Finally, Heritage Investors Management Corp grew its position in Thermo Fisher Scientific by 9.6% in the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after acquiring an additional 4,971 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The stock was 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 represents a 36.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction on Monday, October 27th. The shares were 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 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 disclosure for this sale is available in the SEC filing. Insiders have sold 149,271 shares of company stock valued at $86,507,282 over the last 90 days. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on TMO shares. Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $580.00 to $660.00 in a research report on Thursday, December 11th. Barclays increased their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a research report on Wednesday, October 8th. Argus raised their price target on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Thermo Fisher Scientific Price Performance

TMO stock opened at $620.97 on Thursday. The business’s 50-day moving average is $584.24 and its two-hundred day moving average is $521.63. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The firm has a market capitalization of $233.30 billion, a P/E ratio of 35.87, a P/E/G ratio of 3.99 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $628.08.

Thermo Fisher Scientific (NYSE:TMO) last released 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 firm had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. During the same period in the prior year, the firm earned $5.28 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Announces Dividend

The firm 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. The ex-dividend date is Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

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.