Thermo Fisher Scientific Inc. $TMO Shares Sold by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 47.1% in the 2nd quarter, Holdings Channel reports. The firm owned 5,378 shares of the medical research company’s stock after selling 4,784 shares during the quarter. EFG Asset Management Americas Corp.’s holdings in Thermo Fisher Scientific were worth $2,181,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Quilter Plc increased its position in Thermo Fisher Scientific by 15.0% in the second quarter. Quilter Plc now owns 276,111 shares of the medical research company’s stock worth $111,952,000 after buying an additional 35,983 shares during the period. Artisan Partners Limited Partnership bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $114,706,000. Empirical Finance LLC grew its position in Thermo Fisher Scientific by 3.6% in the 2nd quarter. Empirical Finance LLC now owns 13,915 shares of the medical research company’s stock worth $5,642,000 after purchasing an additional 489 shares during the last quarter. Sierra Legacy Group increased its stake in shares of Thermo Fisher Scientific by 209.3% in the second quarter. Sierra Legacy Group now owns 1,970 shares of the medical research company’s stock valued at $799,000 after purchasing an additional 1,333 shares during the period. Finally, Investidor Profissional Gestao de Recursos Ltda. raised its holdings in shares of Thermo Fisher Scientific by 75.8% during the second quarter. Investidor Profissional Gestao de Recursos Ltda. now owns 25,749 shares of the medical research company’s stock valued at $10,440,000 after buying an additional 11,101 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TMO. Leerink Partners raised their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Wells Fargo & Company boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $635.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Nineteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $601.65.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction on Friday, October 24th. The stock was sold at an average price of $574.15, for a total transaction of $229,660.00. Following the transaction, the executive vice president directly owned 21,152 shares of the company’s stock, valued at approximately $12,144,420.80. The trade was a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction dated Monday, October 27th. The stock was 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 of the company’s stock, valued at approximately $64,400,668.20. This represents a 5.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 51,845 shares of company stock valued at $28,956,952 over the last quarter. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $573.39 on Thursday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97. The stock has a market capitalization of $215.43 billion, a price-to-earnings ratio of 33.12, a PEG ratio of 3.27 and a beta of 0.82. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The stock’s fifty day simple moving average is $533.28 and its 200 day simple moving average is $471.15.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating 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 business had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. During the same quarter last year, the company posted $5.28 EPS. Thermo Fisher Scientific’s revenue for the quarter 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, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed 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. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date is Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

Thermo Fisher Scientific announced that its board has initiated 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 often an indication that the company’s leadership believes its shares are undervalued.

About Thermo Fisher Scientific

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.