PNC Financial Services Group Inc. Sells 17,803 Shares of Thermo Fisher Scientific Inc. $TMO

PNC Financial Services Group Inc. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,250 shares of the medical research company’s stock after selling 17,803 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of Thermo Fisher Scientific worth $103,088,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mondrian Investment Partners LTD raised its stake in Thermo Fisher Scientific by 146.1% during the first quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company’s stock worth $106,738,000 after acquiring an additional 127,357 shares in the last quarter. TIAA Trust National Association increased its position in shares of Thermo Fisher Scientific by 10.5% during the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after purchasing an additional 11,817 shares in the last quarter. Caledonia Investments PLC boosted its position in Thermo Fisher Scientific by 11.5% in the second quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock valued at $45,299,000 after buying an additional 11,500 shares in the last quarter. Heritage Investors Management Corp increased its holdings in shares of Thermo Fisher Scientific by 9.6% during the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after buying an additional 4,971 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its holdings in shares of Thermo Fisher Scientific by 4.5% in the 2nd quarter. Vontobel Holding Ltd. now owns 1,089,103 shares of the medical research company’s stock worth $441,588,000 after acquiring an additional 46,743 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc N. Casper sold 7,250 shares of the firm’s stock in a transaction 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 owned 113,762 shares of the company’s stock, valued at approximately $64,400,668.20. This trade represents a 5.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the business’s 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 approximately $12,144,420.80. The trade was a 1.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 46,645 shares of company stock valued at $25,825,699. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $588.53 on Thursday. 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 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The company has a market cap of $221.12 billion, a P/E ratio of 34.00, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The business’s fifty day moving average is $524.35 and its 200-day moving average is $465.87.

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 analysts’ consensus estimates 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 business had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the prior year, the company posted $5.28 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.43 per share. 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 payout ratio is currently 9.94%.

Wall Street Analyst Weigh In

A number of research firms have commented on TMO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Thermo Fisher Scientific 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 report on Thursday, July 24th. Wells Fargo & Company raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. UBS Group raised their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Finally, Leerink Partners increased their price objective on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Nineteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $601.65.

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.