GRIMES & Co WEALTH MANAGEMENT LLC Decreases Stake in Thermo Fisher Scientific Inc. $TMO

GRIMES & Co WEALTH MANAGEMENT LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,534 shares of the medical research company’s stock after selling 1,609 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Thermo Fisher Scientific were worth $7,049,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of the business. Elevation Wealth Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. Revolve Wealth Partners LLC grew its position in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares during the period. S.A. Mason LLC raised its stake in Thermo Fisher Scientific by 7.0% during the 3rd quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after buying an additional 21 shares during the last quarter. Lafayette Investments Inc. boosted its stake in shares of Thermo Fisher Scientific by 2.4% in the 2nd quarter. Lafayette Investments Inc. now owns 927 shares of the medical research company’s stock worth $376,000 after buying an additional 22 shares during the last quarter. Finally, Diversified Enterprises LLC grew its holdings in shares of Thermo Fisher Scientific by 1.6% in the third quarter. Diversified Enterprises LLC now owns 1,411 shares of the medical research company’s stock worth $684,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on TMO shares. Evercore ISI reissued an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Barclays boosted their target price on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, January 7th. Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,912 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Michel Lagarde sold 22,046 shares of the company’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 149,271 shares of company stock worth $86,507,282. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.5%

Shares of TMO stock opened at $615.60 on Tuesday. The company has a market capitalization of $231.29 billion, a price-to-earnings ratio of 35.56, a PEG ratio of 4.07 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The company’s fifty day moving average price is $582.36 and its 200-day moving average price is $519.52. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $628.08.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (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 business had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same quarter in the prior year, the business posted $5.28 EPS. Thermo Fisher Scientific’s revenue for the quarter 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. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared 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 is presently 9.94%.

Thermo Fisher Scientific announced that its board has initiated a share buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Company 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.