Russell Investments Group Ltd. Sells 58,769 Shares of Thermo Fisher Scientific Inc. $TMO

Russell Investments Group Ltd. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.5% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,798 shares of the medical research company’s stock after selling 58,769 shares during the period. Russell Investments Group Ltd. owned 0.06% of Thermo Fisher Scientific worth $92,420,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TMO. Inceptionr LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $667,000. Richmond Investment Services LLC acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $249,000. J.W. Cole Advisors Inc. grew its position in Thermo Fisher Scientific by 135.8% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 9,026 shares of the medical research company’s stock worth $3,660,000 after acquiring an additional 5,198 shares during the last quarter. North Star Asset Management Inc. increased its holdings in Thermo Fisher Scientific by 6.7% in the 2nd quarter. North Star Asset Management Inc. now owns 60,563 shares of the medical research company’s stock worth $24,556,000 after purchasing an additional 3,824 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in Thermo Fisher Scientific by 1.8% in the second quarter. Manchester Capital Management LLC now owns 2,308 shares of the medical research company’s stock valued at $936,000 after purchasing an additional 41 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. UBS Group upped their price target on shares of Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Barclays raised their target price on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Citigroup upped their price target on Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Finally, Argus raised their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $601.65.

Thermo Fisher Scientific Price Performance

TMO stock opened at $593.41 on Thursday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97. The stock has a market capitalization of $222.95 billion, a PE ratio of 34.28, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company’s 50-day moving average is $544.05 and its 200-day moving average is $477.35. 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 issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, topping 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 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 business earned $5.28 EPS. Thermo Fisher Scientific’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. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company 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 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 (DPR) is currently 9.94%.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 17,104 shares of the stock in a transaction that occurred on Friday, October 24th. The stock was 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 of the company’s stock, valued at approximately $65,247,057.48. This trade represents a 13.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president directly owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. This represents a 41.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 52,570 shares of company stock worth $30,382,352. 0.33% of the stock is owned by insiders.

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.