Thermo Fisher Scientific Inc. $TMO Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,645 shares of the medical research company’s stock after selling 2,768 shares during the quarter. Carnegie Investment Counsel’s holdings in Thermo Fisher Scientific were worth $24,079,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TMO. Fulton Breakefield Broenniman LLC raised its stake in Thermo Fisher Scientific by 10.0% during the 3rd quarter. Fulton Breakefield Broenniman LLC now owns 684 shares of the medical research company’s stock valued at $332,000 after acquiring an additional 62 shares during the last quarter. LeConte Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $223,000. Howard Capital Management Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.8% during the third quarter. Howard Capital Management Group LLC now owns 57,491 shares of the medical research company’s stock worth $27,884,000 after purchasing an additional 475 shares during the last quarter. Darwin Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 7.4% during the third quarter. Darwin Wealth Management LLC now owns 450 shares of the medical research company’s stock worth $218,000 after purchasing an additional 31 shares during the period. Finally, New Hampshire Trust increased its stake in Thermo Fisher Scientific by 6.6% in the 3rd quarter. New Hampshire Trust now owns 7,158 shares of the medical research company’s stock valued at $3,472,000 after buying an additional 445 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michael D. Shafer sold 10,725 shares of the firm’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 transaction of $6,435,000.00. Following the completion of the transaction, the executive vice president directly owned 18,731 shares of the company’s stock, valued at $11,238,600. This trade represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total value of $4,104,225.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $64,400,668.20. The trade was a 5.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 149,271 shares of company stock valued at $86,507,282. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on TMO shares. Barclays raised their target price on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. 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 report on Wednesday, October 29th. Evercore ISI boosted their target price on Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $616.60.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $580.65 on Friday. The business has a 50 day moving average price of $573.94 and a 200 day moving average price of $502.88. The company has a market capitalization of $218.16 billion, a P/E ratio of 33.54, a PEG ratio of 4.11 and a beta of 0.90. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion for 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 prior year, the company earned $5.28 earnings per share. 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 announced that its board has initiated a stock buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

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.