Thermo Fisher Scientific Inc. $TMO Stock Position Boosted by Cornerstone Capital Inc.

Cornerstone Capital Inc. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,205 shares of the medical research company’s stock after buying an additional 2,840 shares during the quarter. Thermo Fisher Scientific comprises 2.1% of Cornerstone Capital Inc.’s holdings, making the stock its 19th biggest position. Cornerstone Capital Inc.’s holdings in Thermo Fisher Scientific were worth $20,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares during the last quarter. Cornerstone Advisory LLC boosted its position in shares of Thermo Fisher Scientific by 21.5% during the 1st quarter. Cornerstone Advisory LLC now owns 893 shares of the medical research company’s stock valued at $444,000 after purchasing an additional 158 shares in the last quarter. Texas Yale Capital Corp. raised its holdings in shares of Thermo Fisher Scientific by 15.1% in the 1st quarter. Texas Yale Capital Corp. now owns 610 shares of the medical research company’s stock worth $304,000 after purchasing an additional 80 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in Thermo Fisher Scientific by 6.2% during the first quarter. LPL Financial LLC now owns 278,299 shares of the medical research company’s stock valued at $137,916,000 after purchasing an additional 16,362 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 1,058 shares of Thermo Fisher Scientific stock in a transaction on 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 owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. This trade represents a 7.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Friday, October 24th. The stock was 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 in the company, valued at approximately $12,144,420.80. The trade was a 1.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,845 shares of company stock valued at $23,947,352 in the last quarter. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. Barclays upped their price target on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Leerink Partners boosted their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their price target on 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 boosted their price objective on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a report on Thursday, October 23rd. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $601.65.

Thermo Fisher Scientific Trading Down 0.3%

NYSE:TMO opened at $585.85 on Tuesday. The stock has a market cap of $220.11 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two 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’s 50-day moving average is $539.29 and its two-hundred day moving average is $475.16.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping the consensus estimate 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 quarterly revenue was up 4.9% compared to the same quarter last year. 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. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

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.