DAVENPORT & Co LLC Raises Stock Position in Thermo Fisher Scientific Inc. $TMO

DAVENPORT & Co LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 690.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 39,887 shares of the medical research company’s stock after acquiring an additional 34,839 shares during the period. DAVENPORT & Co LLC’s holdings in Thermo Fisher Scientific were worth $19,346,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Elevation Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after buying an additional 20 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings 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 valued at $255,000 after acquiring an additional 20 shares during the period. S.A. Mason LLC boosted its position in Thermo Fisher Scientific by 7.0% in the 3rd quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock worth $155,000 after purchasing an additional 21 shares in the last quarter. Lafayette Investments Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.4% during the 2nd quarter. Lafayette Investments Inc. now owns 927 shares of the medical research company’s stock valued at $376,000 after purchasing an additional 22 shares in the last quarter. Finally, Diversified Enterprises LLC lifted its stake in shares of Thermo Fisher Scientific by 1.6% in the 3rd quarter. Diversified Enterprises LLC now owns 1,411 shares of the medical research company’s stock valued at $684,000 after purchasing an additional 22 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,913 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 10,225 shares of the company’s stock in a transaction dated 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 sale, the vice president directly owned 14,145 shares of the company’s stock, valued at $8,085,564.90. This represents a 41.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 149,271 shares of company stock worth $86,507,282. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $581.50 on Thursday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $610.97. The firm has a market capitalization of $218.48 billion, a PE ratio of 33.59, a PEG ratio of 4.12 and a beta of 0.90. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $572.21 and its 200 day moving average price is $501.13.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated 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 buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be issued 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 is presently 9.94%.

Analysts Set New Price Targets

TMO has been the topic of several analyst reports. Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. JPMorgan Chase & Co. raised their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, October 9th. Wells Fargo & Company upped their price target on Thermo Fisher Scientific from $635.00 to $675.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and raised their price objective for the company from $580.00 to $660.00 in a report on Thursday, December 11th. Finally, Morgan Stanley upped their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $616.60.

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.