Canandaigua National Bank & Trust Co. Sells 2,054 Shares of Thermo Fisher Scientific Inc. $TMO

Canandaigua National Bank & Trust Co. lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,839 shares of the medical research company’s stock after selling 2,054 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Thermo Fisher Scientific were worth $2,347,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares during the last quarter. Watts Gwilliam & Co. LLC purchased a new stake in shares of Thermo Fisher Scientific in the first quarter worth $218,000. Wellington Management Group LLP increased its holdings in shares of Thermo Fisher Scientific by 11.7% during the first quarter. Wellington Management Group LLP now owns 1,595,715 shares of the medical research company’s stock valued at $794,028,000 after acquiring an additional 167,763 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc raised its position in shares of Thermo Fisher Scientific by 181.6% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 2,267 shares of the medical research company’s stock worth $1,128,000 after purchasing an additional 1,462 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 1.0%

NYSE:TMO opened at $570.07 on Wednesday. The company has a 50 day simple moving average of $567.10 and a two-hundred day simple moving average of $494.60. The company has a market cap of $214.18 billion, a PE ratio of 32.93, a price-to-earnings-growth ratio of 4.21 and a beta of 0.90. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.Thermo Fisher Scientific’s revenue was up 4.9% compared to the same quarter last year. During the same quarter 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. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.94%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 17,104 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $573.54, for a total transaction of $9,809,828.16. Following the completion of the sale, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $65,247,057.48. The trade was a 13.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president owned 18,731 shares in the company, valued at $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,271 shares of company stock valued at $86,507,282 in the last 90 days. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Argus raised their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Barclays increased their price target on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. Leerink Partners boosted their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $616.60.

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.