North Star Asset Management Inc. Grows Position in Thermo Fisher Scientific Inc. $TMO

North Star Asset Management Inc. lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 60,563 shares of the medical research company’s stock after purchasing an additional 3,824 shares during the quarter. North Star Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $24,556,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of TMO. Soundwatch Capital LLC purchased a new stake in Thermo Fisher Scientific during the second quarter worth approximately $807,713,000. Flossbach Von Storch SE lifted its holdings in shares of Thermo Fisher Scientific by 93.0% during the 2nd quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after acquiring an additional 1,314,182 shares in the last quarter. Nuveen LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter worth $532,360,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Thermo Fisher Scientific by 29.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,257,424 shares of the medical research company’s stock valued at $915,295,000 after purchasing an additional 514,399 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Thermo Fisher Scientific by 11.3% during 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 purchasing an additional 498,238 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.3%

Shares of NYSE:TMO opened at $585.85 on Tuesday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The firm has a market cap of $220.11 billion, a PE ratio of 33.84, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company has a fifty day simple moving average of $539.29 and a 200 day simple moving average of $475.16.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share 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 the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Thursday, November 6th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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 paid a dividend of $0.43 per share. The ex-dividend date is Monday, December 15th. This represents a $1.72 annualized dividend and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.94%.

Insider Activity at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 10,225 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the completion of the transaction, the vice president owned 14,145 shares in the company, valued at approximately $8,085,564.90. This trade represents a 41.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michel Lagarde sold 4,638 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $594.42, for a total value of $2,756,919.96. Following the sale, the chief operating officer directly owned 23,480 shares in the company, valued at approximately $13,956,981.60. This represents a 16.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 41,845 shares of company stock worth $23,947,352 over the last quarter. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on TMO shares. Citigroup raised their target price on Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Evercore ISI increased their price objective on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a research report on Tuesday, October 7th. UBS Group boosted their target price on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. Redburn Partners set a $580.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Tuesday, October 14th. Nineteen investment 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 presently has a consensus rating of “Moderate Buy” and an average target price of $601.65.

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.