Thermo Fisher Scientific Inc. $TMO Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,093,621 shares of the medical research company’s stock after selling 71,637 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.3% of Parnassus Investments LLC’s investment portfolio, making the stock its 12th biggest position. Parnassus Investments LLC’s holdings in Thermo Fisher Scientific were worth $1,015,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of TMO. Brighton Jones LLC grew its stake in shares of Thermo Fisher Scientific by 28.9% in the 4th 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 during the period. Revolve Wealth Partners LLC grew its position in Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the period. Intech Investment Management LLC raised its position in Thermo Fisher Scientific by 70.7% in the first quarter. Intech Investment Management LLC now owns 13,926 shares of the medical research company’s stock valued at $6,930,000 after purchasing an additional 5,769 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 9.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,666 shares of the medical research company’s stock valued at $2,322,000 after purchasing an additional 415 shares during the last quarter. Finally, Intrua Financial LLC increased its position in shares of Thermo Fisher Scientific by 11.6% during the 1st quarter. Intrua Financial LLC now owns 579 shares of the medical research company’s stock worth $288,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 2.1%

Thermo Fisher Scientific stock opened at $619.14 on Friday. The firm has a market capitalization of $232.62 billion, a P/E ratio of 35.77, a P/E/G ratio of 3.99 and a beta of 0.91. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $628.08. The stock’s fifty day simple moving average is $581.35 and its 200-day simple moving average is $516.55.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. The firm had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.Thermo Fisher Scientific’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business 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 analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

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

Analysts Set New Price Targets

Several brokerages have weighed in on TMO. JPMorgan Chase & Co. increased their target price 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. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a report on Sunday, December 7th. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. Barclays raised 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. Finally, Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Insider Activity at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 10,225 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the completion of the transaction, the vice president owned 14,145 shares in the company, valued at approximately $8,085,564.90. The trade was a 41.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 17,104 shares of the firm’s stock in a transaction on Friday, October 24th. The shares were sold at an average price of $573.54, for a total value of $9,809,828.16. Following the completion of the sale, the chief executive officer owned 113,762 shares in the company, valued at approximately $65,247,057.48. This represents a 13.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 149,271 shares of company stock worth $86,507,282 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.