Convergence Financial LLC Has $952,000 Stock Position in Thermo Fisher Scientific Inc. $TMO

Convergence Financial LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 2,349 shares of the medical research company’s stock after selling 915 shares during the period. Convergence Financial LLC’s holdings in Thermo Fisher Scientific were worth $952,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Mondrian Investment Partners LTD increased its holdings in shares of Thermo Fisher Scientific by 146.1% during the first quarter. Mondrian Investment Partners LTD now owns 214,506 shares of the medical research company’s stock worth $106,738,000 after buying an additional 127,357 shares in the last quarter. TIAA Trust National Association increased its holdings in Thermo Fisher Scientific by 10.5% during the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after purchasing an additional 11,817 shares in the last quarter. Caledonia Investments PLC raised its position in Thermo Fisher Scientific by 11.5% in the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock valued at $45,299,000 after purchasing an additional 11,500 shares during the last quarter. Heritage Investors Management Corp boosted its stake in Thermo Fisher Scientific by 9.6% in the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after purchasing an additional 4,971 shares in the last quarter. Finally, Foresight Group Ltd Liability Partnership increased its stake in shares of Thermo Fisher Scientific by 3,242.7% in the first quarter. Foresight Group Ltd Liability Partnership now owns 58,497 shares of the medical research company’s stock valued at $29,113,000 after buying an additional 56,747 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $560.00 to $656.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. HSBC reissued a “hold” rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. William Blair started coverage on Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, TD Cowen boosted their price objective on Thermo Fisher Scientific from $612.00 to $654.00 and gave the stock a “buy” rating in a report on Thursday, October 23rd. Nineteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $601.65.

Thermo Fisher Scientific Stock Up 0.2%

Thermo Fisher Scientific stock opened at $565.95 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week 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. The firm has a market capitalization of $212.63 billion, a price-to-earnings ratio of 32.69, a PEG ratio of 3.27 and a beta of 0.82. The company’s 50 day simple moving average is $513.89 and its 200 day simple moving average is $459.86.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results 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 net margin of 15.02% and a return on equity of 16.97%. The company had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same period last year, the firm posted $5.28 earnings per share. The business’s quarterly revenue 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. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the transaction, the chief accounting officer owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction on Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 44,420 shares of company stock worth $23,616,484 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.