Carnegie Investment Counsel Trims Position in Thermo Fisher Scientific Inc. $TMO

Carnegie Investment Counsel reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 49,645 shares of the medical research company’s stock after selling 2,768 shares during the period. Carnegie Investment Counsel’s holdings in Thermo Fisher Scientific were worth $24,079,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TMO. CBIZ Investment Advisory Services LLC grew its position in shares of 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 valued at $28,000 after purchasing an additional 33 shares during the period. Highline Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter valued at about $30,000. Capital A Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. boosted its position in shares of Thermo Fisher Scientific by 406.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.3%

NYSE TMO opened at $580.65 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $610.97. The business has a 50 day moving average price of $573.94 and a two-hundred day moving average price of $502.88. The stock has a market cap of $218.16 billion, a PE ratio of 33.54, a P/E/G ratio of 4.11 and a beta of 0.90.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS 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 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 business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous 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, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

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

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target for the company. Evercore ISI upped their price objective on Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a report on Tuesday, October 7th. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. UBS Group upped their price target on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research note on Thursday, October 23rd. Finally, KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $616.60.

Insider Transactions at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. This trade represents a 41.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction on 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 completion of the sale, the executive vice president directly owned 14,367 shares in the company, valued at $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 149,271 shares of company stock valued at $86,507,282 in the last three months. 0.33% of the stock is currently owned by company 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.