138,518 Shares in Thermo Fisher Scientific Inc. $TMO Bought by Summitry LLC

Summitry LLC acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 138,518 shares of the medical research company’s stock, valued at approximately $56,164,000. Thermo Fisher Scientific accounts for 2.5% of Summitry LLC’s holdings, making the stock its 16th largest holding.

Several other institutional investors also recently modified their holdings of the business. MTM Investment Management LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at $73,000. Kingsview Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 8.2% in the second quarter. Kingsview Wealth Management LLC now owns 23,295 shares of the medical research company’s stock worth $9,445,000 after buying an additional 1,760 shares during the last quarter. Cornerstone Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 177.4% in the second quarter. Cornerstone Advisors LLC now owns 57,700 shares of the medical research company’s stock worth $23,395,000 after buying an additional 36,900 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in Thermo Fisher Scientific by 16.3% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 33,725 shares of the medical research company’s stock worth $13,674,000 after buying an additional 4,736 shares in the last quarter. Finally, Hedeker Wealth LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.3% during the 2nd quarter. Hedeker Wealth LLC now owns 5,845 shares of the medical research company’s stock valued at $2,370,000 after buying an additional 187 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the subject of a number of analyst reports. Barclays upped their price target on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. JPMorgan Chase & Co. boosted 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 report on Thursday, October 9th. William Blair initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, August 18th. They issued an “outperform” rating on the stock. Raymond James Financial restated an “outperform” rating and issued a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, Hsbc Global Res cut shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Nineteen equities 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $601.65.

Insider Buying and Selling

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the completion of the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. The trade was a 7.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $574.15, for a total transaction of $229,660.00. Following the sale, the executive vice president owned 21,152 shares of the company’s stock, valued at $12,144,420.80. This represents a 1.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 52,341 shares of company stock valued at $29,204,998 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 0.2%

NYSE:TMO opened at $579.12 on Friday. The firm has a market capitalization of $217.58 billion, a P/E ratio of 33.46, a PEG ratio of 3.27 and a beta of 0.82. The company’s fifty day moving average price is $527.90 and its 200-day moving average price is $468.04. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating 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 company had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same quarter in the previous year, the company earned $5.28 earnings per share. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis 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 presently 9.94%.

Thermo Fisher Scientific declared that its board has initiated 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 usually a sign that the company’s board of directors believes its stock is undervalued.

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.