Thermo Fisher Scientific Inc. $TMO Shares Sold by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 978 shares of the medical research company’s stock after selling 195 shares during the period. Parkside Financial Bank & Trust’s holdings in Thermo Fisher Scientific were worth $397,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Magellan Asset Management Ltd grew its holdings in Thermo Fisher Scientific by 115.7% in the 2nd quarter. Magellan Asset Management Ltd now owns 12,449 shares of the medical research company’s stock valued at $5,048,000 after buying an additional 6,678 shares in the last quarter. Aviva PLC raised its position in shares of Thermo Fisher Scientific by 58.9% during the 2nd quarter. Aviva PLC now owns 426,102 shares of the medical research company’s stock valued at $172,767,000 after buying an additional 157,889 shares during the period. Prospera Financial Services Inc increased its stake in Thermo Fisher Scientific by 128.0% during the second quarter. Prospera Financial Services Inc now owns 19,441 shares of the medical research company’s stock worth $7,884,000 after acquiring an additional 10,913 shares during the last quarter. RWA Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 503.4% in the 2nd quarter. RWA Wealth Partners LLC now owns 22,801 shares of the medical research company’s stock valued at $9,245,000 after purchasing an additional 19,022 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Thermo Fisher Scientific by 4.6% during the 2nd quarter. AGF Management Ltd. now owns 205,857 shares of the medical research company’s stock worth $83,467,000 after purchasing an additional 9,130 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on TMO shares. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a research report on Wednesday, October 8th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $560.00 to $656.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Finally, Raymond James Financial reissued an “outperform” rating and set a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Nineteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $601.65.

Insider Buying and Selling

In related news, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at $1,142,408.97. This represents a 14.24% 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 firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,420 shares of company stock worth $19,980,884 over the last 90 days. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Up 1.2%

NYSE TMO opened at $572.72 on Monday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The firm has a 50 day moving average of $518.58 and a two-hundred day moving average of $462.80. The stock has a market capitalization of $215.18 billion, a PE ratio of 33.09, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS 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 during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the previous year, the firm posted $5.28 earnings per share. The company’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, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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 given a dividend of $0.43 per share. 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 dividend payout ratio (DPR) is 9.94%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.