Terra Nova Asset Management LLC Cuts Position in Thermo Fisher Scientific Inc. $TMO

Terra Nova Asset Management LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 528 shares of the medical research company’s stock after selling 266 shares during the quarter. Terra Nova Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $214,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in TMO. CBIZ Investment Advisory Services LLC grew its position in Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after acquiring an additional 33 shares in the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $30,000. Keystone Global Partners LLC bought a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $31,000. DiNuzzo Private Wealth Inc. raised its holdings in Thermo Fisher Scientific by 406.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after buying an additional 61 shares during the period. Finally, HighMark Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after buying an additional 45 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on TMO shares. Leerink Partners lifted their price target on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. HSBC reiterated a “hold” rating and set a $510.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Redburn Partners set a $580.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, October 8th. Finally, JPMorgan Chase & Co. upped 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. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $601.65.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the transaction, the chief executive officer owned 113,762 shares in the company, valued at approximately $64,400,668.20. This represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michel Lagarde sold 4,638 shares of Thermo Fisher Scientific stock in a transaction on Thursday, November 13th. The stock was sold at an average price of $594.42, for a total transaction of $2,756,919.96. Following the sale, the chief operating officer owned 23,480 shares of the company’s stock, valued at $13,956,981.60. The trade was a 16.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 51,845 shares of company stock worth $28,956,952. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $573.39 on Thursday. The company’s 50 day moving average is $533.28 and its 200 day moving average is $471.15. 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 firm has a market cap of $215.43 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 3.27 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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 business had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its board has approved a share buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership 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.