Rhumbline Advisers Has $257.49 Million Stake in Thermo Fisher Scientific Inc. $TMO

Rhumbline Advisers reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 635,055 shares of the medical research company’s stock after selling 23,302 shares during the quarter. Rhumbline Advisers’ holdings in Thermo Fisher Scientific were worth $257,489,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Flossbach Von Storch SE increased its position in Thermo Fisher Scientific by 93.0% in the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after buying an additional 1,314,182 shares during the period. Nuveen LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Thermo Fisher Scientific by 29.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock worth $915,295,000 after acquiring an additional 514,399 shares during the period. Franklin Resources Inc. raised its stake in Thermo Fisher Scientific by 11.3% during the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the last quarter. Finally, EdgePoint Investment Group Inc. bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $172,139,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 4,638 shares of the stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $594.42, for a total transaction of $2,756,919.96. Following the sale, the chief operating officer owned 23,480 shares in the company, valued at approximately $13,956,981.60. This represents a 16.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 24th. The shares were sold at an average price of $574.15, for a total value of $229,660.00. Following the completion of the transaction, the executive vice president directly owned 21,152 shares of the company’s stock, valued at $12,144,420.80. This represents a 1.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,845 shares of company stock worth $23,947,352 over the last 90 days. Company insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMO. Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $560.00 to $656.00 and gave the company an “overweight” rating in a research note on Tuesday, October 28th. UBS Group raised their price objective 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. Royal Bank Of Canada set a $561.00 target price on Thermo Fisher Scientific and gave the company an “outperform” rating in a research note on Tuesday, September 2nd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Nineteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $601.65.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $587.47 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97. 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 stock has a fifty day moving average price of $537.07 and a two-hundred day moving average price of $473.00. The firm has a market capitalization of $220.72 billion, a P/E ratio of 33.94, a P/E/G ratio of 3.27 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The business 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%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

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.