Bank of Nova Scotia Grows Position in Thermo Fisher Scientific Inc. $TMO

Bank of Nova Scotia lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 50.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 101,357 shares of the medical research company’s stock after purchasing an additional 33,884 shares during the period. Bank of Nova Scotia’s holdings in Thermo Fisher Scientific were worth $41,096,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $807,713,000. Flossbach Von Storch SE raised its holdings in shares of Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock worth $1,105,698,000 after acquiring an additional 1,314,182 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of Thermo Fisher Scientific by 84.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,210,954 shares of the medical research company’s stock valued at $490,993,000 after purchasing an additional 555,018 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Thermo Fisher Scientific by 29.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock worth $915,295,000 after purchasing an additional 514,399 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TMO. Evercore ISI increased their price target on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a research note on Tuesday, October 7th. UBS Group lifted their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. TD Cowen raised their price objective on Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a research report on Thursday, October 23rd. William Blair started coverage on shares of Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an “outperform” rating on the stock. Finally, Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $609.38.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 17,104 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at approximately $65,247,057.48. This represents a 13.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Lisa P. Britt sold 10,225 shares of the business’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the transaction, the vice president owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. The trade was a 41.96% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 Stock Performance

NYSE:TMO opened at $567.87 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $610.97. The company has a fifty day simple moving average of $561.82 and a two-hundred day simple moving average of $487.30. 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 $213.35 billion, a price-to-earnings ratio of 32.81, a price-to-earnings-growth ratio of 4.19 and a beta of 0.90.

Thermo Fisher Scientific (NYSE:TMO) last released its 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. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the previous year, the firm posted $5.28 EPS. Thermo Fisher Scientific’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 analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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. 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 declared that its Board of Directors has approved a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans 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.