Grove Bank & Trust Sells 4,693 Shares of Thermo Fisher Scientific Inc. $TMO

Grove Bank & Trust cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 78.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,280 shares of the medical research company’s stock after selling 4,693 shares during the quarter. Grove Bank & Trust’s holdings in Thermo Fisher Scientific were worth $621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after buying an additional 309,207 shares during the period. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $2,264,615,000. Franklin Resources Inc. grew its stake in shares of Thermo Fisher Scientific by 11.3% in 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 during the last quarter. Amundi increased its holdings in Thermo Fisher Scientific by 5.9% in the first quarter. Amundi now owns 3,029,044 shares of the medical research company’s stock valued at $1,426,316,000 after purchasing an additional 168,197 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Thermo Fisher Scientific by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after buying an additional 74,971 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent analyst reports. Argus lifted their price objective on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Finally, 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 note on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $616.60.

Insider Activity

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total value of $6,435,000.00. Following the completion of the sale, the executive vice president directly owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This represents a 36.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 17,104 shares of the business’s stock in a transaction that occurred on Friday, October 24th. The stock was sold at an average price of $573.54, for a total value of $9,809,828.16. Following the completion of the transaction, the chief executive officer owned 113,762 shares in the company, valued at $65,247,057.48. The trade was a 13.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 149,271 shares of company stock worth $86,507,282. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $575.78 on Tuesday. 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 company has a fifty day simple moving average of $566.49 and a 200 day simple moving average of $493.42. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The company has a market cap of $216.32 billion, a P/E ratio of 33.26, a PEG ratio of 4.18 and a beta of 0.90.

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, topping analysts’ consensus estimates 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 net margin of 15.02% and a return on equity of 16.97%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock 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 purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Company 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.