Thermo Fisher Scientific Inc. $TMO Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,194 shares of the medical research company’s stock after selling 3,510 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Thermo Fisher Scientific were worth $17,555,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after purchasing an additional 309,207 shares during the last quarter. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth $2,264,615,000. Franklin Resources Inc. raised its position in shares of Thermo Fisher Scientific by 11.3% in the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after buying an additional 498,238 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after buying an additional 74,971 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Thermo Fisher Scientific by 13.6% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,750,923 shares of the medical research company’s stock valued at $1,368,859,000 after acquiring an additional 329,974 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 32,000 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This trade represents a 32.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Frederick M. Lowery sold 6,913 shares of the firm’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 owned 14,367 shares in the company, valued at $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 149,271 shares of company stock worth $86,507,282 over the last three months. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on TMO shares. Cowen reissued a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research report on Sunday, December 7th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Finally, Citigroup raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and upped their price objective for the company from $580.00 to $660.00 in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $616.60.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $579.42 on Friday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $610.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The firm’s 50 day moving average price is $575.60 and its 200-day moving average price is $507.61. The firm has a market cap of $217.69 billion, a P/E ratio of 33.47, a P/E/G ratio of 4.12 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly 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. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the prior year, the firm earned $5.28 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

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.