Baker Avenue Asset Management LP Boosts Stake in Thermo Fisher Scientific Inc. $TMO

Baker Avenue Asset Management LP raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,034 shares of the medical research company’s stock after buying an additional 2,704 shares during the period. Baker Avenue Asset Management LP’s holdings in Thermo Fisher Scientific were worth $9,339,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC lifted its position in shares of Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after purchasing 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. Keystone Global Partners LLC bought a new position in Thermo Fisher Scientific in the 1st quarter worth about $31,000. DiNuzzo Private Wealth Inc. increased its position in shares of Thermo Fisher Scientific by 406.7% during 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 period. Finally, HighMark Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 140.6% in the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 45 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $572.49 on Monday. The company has a 50 day moving average of $559.70 and a two-hundred day moving average of $486.12. The company has a market cap of $215.09 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 4.19 and a beta of 0.90. 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 twelve month low of $385.46 and a twelve month high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. 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 quarter last year, the firm earned $5.28 EPS. The business’s quarterly revenue 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, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is 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 issued a dividend of $0.43 per share. The ex-dividend date is Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is 9.94%.

Insider Buying and Selling

In other news, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the transaction, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares in the company, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 149,271 shares of company stock worth $86,507,282 over the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Argus raised their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday, October 23rd. Finally, Wells Fargo & Company lifted their price objective on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $609.38.

Thermo Fisher Scientific Profile

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.