Thermo Fisher Scientific Inc. $TMO Shares Purchased by Renasant Bank

Renasant Bank raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,453 shares of the medical research company’s stock after acquiring an additional 916 shares during the quarter. Renasant Bank’s holdings in Thermo Fisher Scientific were worth $995,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Everett Harris & Co. CA lifted its holdings in Thermo Fisher Scientific by 5.1% in the 2nd quarter. Everett Harris & Co. CA now owns 15,455 shares of the medical research company’s stock valued at $6,266,000 after purchasing an additional 746 shares in the last quarter. Wealth Alliance LLC raised its position in shares of Thermo Fisher Scientific by 40.6% in the second quarter. Wealth Alliance LLC now owns 2,841 shares of the medical research company’s stock valued at $1,152,000 after buying an additional 821 shares during the last quarter. Quinn Opportunity Partners LLC purchased a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $1,216,000. M&G PLC grew its stake in Thermo Fisher Scientific by 233.1% in the 2nd quarter. M&G PLC now owns 393,766 shares of the medical research company’s stock worth $159,475,000 after acquiring an additional 275,547 shares during the period. Finally, Fairbanks Capital Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 6.7% during the 2nd quarter. Fairbanks Capital Management Inc. now owns 1,827 shares of the medical research company’s stock worth $741,000 after purchasing an additional 115 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TMO shares. Citigroup upped their target price 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. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Argus raised their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. William Blair began coverage on shares of Thermo Fisher Scientific in a research report on Monday, August 18th. They set an “outperform” rating for the company. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Nineteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $601.65.

Insiders Place Their Bets

In other news, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $574.15, for a total value of $229,660.00. Following the sale, the executive vice president owned 21,152 shares in the company, valued at $12,144,420.80. This represents a 1.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 46,645 shares of company stock valued at $25,825,699 over the last ninety days. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $586.37 on Wednesday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. The firm has a market capitalization of $220.30 billion, a price-to-earnings ratio of 33.87, a PEG ratio of 3.27 and a beta of 0.82. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $522.26 and its 200 day simple moving average is $465.01.

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 return on equity of 16.97% and a net margin of 15.02%.The company had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. During the same period last year, the company posted $5.28 earnings per share. The firm’s 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. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a $0.43 dividend. 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 dividend payout ratio (DPR) is 9.94%.

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