Thermo Fisher Scientific Inc. $TMO Shares Bought by Bank of Nova Scotia

Bank of Nova Scotia lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 50.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,357 shares of the medical research company’s stock after buying an additional 33,884 shares during the quarter. Bank of Nova Scotia’s holdings in Thermo Fisher Scientific were worth $41,096,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TMO. Vanguard Group Inc. grew its stake in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank acquired a new stake in Thermo Fisher Scientific during the second quarter valued at $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 worth $1,985,759,000 after acquiring an additional 498,238 shares during the period. Amundi boosted its stake in shares of Thermo Fisher Scientific by 5.9% during the 1st quarter. Amundi now owns 3,029,044 shares of the medical research company’s stock worth $1,426,316,000 after acquiring an additional 168,197 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after acquiring an additional 74,971 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

TMO stock opened at $567.87 on Tuesday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97. The firm has a market capitalization of $213.35 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 4.19 and a beta of 0.90. 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 business has a 50 day simple moving average of $561.82 and a 200-day simple moving average of $487.30.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $10.90 billion. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a $0.43 dividend. The ex-dividend date of this dividend 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%.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Argus raised their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research note on Sunday. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $612.00 to $654.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Citigroup raised their price target on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a research note on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $609.38.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 7,250 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer owned 113,762 shares of the company’s stock, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total value of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 149,271 shares of company stock worth $86,507,282. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company 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.