CNB Bank Grows Stock Holdings in Thermo Fisher Scientific Inc. $TMO

CNB Bank boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,112 shares of the medical research company’s stock after buying an additional 248 shares during the period. CNB Bank’s holdings in Thermo Fisher Scientific were worth $856,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Mondrian Investment Partners LTD boosted its holdings in Thermo Fisher Scientific by 146.1% in the 1st quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company’s stock valued at $106,738,000 after purchasing an additional 127,357 shares during the period. Caledonia Investments PLC boosted its holdings in Thermo Fisher Scientific by 11.5% in the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock valued at $45,299,000 after purchasing an additional 11,500 shares during the period. Foresight Group Ltd Liability Partnership boosted its holdings in Thermo Fisher Scientific by 3,242.7% in the 1st quarter. Foresight Group Ltd Liability Partnership now owns 58,497 shares of the medical research company’s stock valued at $29,113,000 after purchasing an additional 56,747 shares during the period. Advisors Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 6.7% during the 1st quarter. Advisors Capital Management LLC now owns 127,011 shares of the medical research company’s stock worth $63,201,000 after acquiring an additional 7,967 shares during the last quarter. Finally, New England Research & Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 28.6% during the 2nd quarter. New England Research & Management Inc. now owns 2,548 shares of the medical research company’s stock worth $1,033,000 after acquiring an additional 567 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Marc N. Casper sold 400 shares of the firm’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $500.50, for a total value of $200,200.00. Following the completion of the sale, the chief executive officer owned 113,762 shares in the company, valued at approximately $56,937,881. This trade represents a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Joseph R. Holmes sold 385 shares of the firm’s 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 completion of the sale, the chief accounting officer owned 2,319 shares of the company’s stock, valued at $1,142,408.97. This trade represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,666 shares of company stock valued at $13,990,971 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TMO. HSBC reaffirmed a “hold” rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Citigroup lifted their target price on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the stock a “neutral” rating in a research report on Thursday. Evercore ISI lifted their target price on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday. Finally, UBS Group increased their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $595.75.

Thermo Fisher Scientific Stock Up 0.2%

Shares of Thermo Fisher Scientific stock opened at $573.07 on Friday. The company has a market cap of $216.40 billion, a price-to-earnings ratio of 33.11, a price-to-earnings-growth ratio of 3.24 and a beta of 0.77. The company’s 50 day moving average is $504.04 and its 200 day moving average is $453.30. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

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, beating the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. Thermo Fisher Scientific’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

About Thermo Fisher Scientific

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.