Carnegie Investment Counsel Cuts Position in Thermo Fisher Scientific Inc. $TMO

Carnegie Investment Counsel reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,413 shares of the medical research company’s stock after selling 3,703 shares during the period. Carnegie Investment Counsel’s holdings in Thermo Fisher Scientific were worth $21,251,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its stake in Thermo Fisher Scientific by 137.5% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after buying an additional 33 shares in the last quarter. Anderson Financial Strategies LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $30,000. Keystone Global Partners LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. DiNuzzo Private Wealth Inc. increased its stake in Thermo Fisher Scientific by 406.7% during the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after buying an additional 61 shares in the last quarter. Finally, HighMark Wealth Management LLC increased its stake in Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after buying an additional 45 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Up 0.8%

TMO opened at $571.94 on Friday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $610.97. The stock has a market capitalization of $215.97 billion, a PE ratio of 33.04, a P/E/G ratio of 3.25 and a beta of 0.77. The business’s 50 day moving average price is $502.38 and its 200 day moving average price is $452.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.50 and a current ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS 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 firm had revenue of $11.12 billion for the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the prior year, the firm posted $5.28 earnings per share. The firm’s quarterly revenue 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, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $500.96, for a total value of $5,009,600.00. Following the transaction, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $57,697,567.04. This represents a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction on Friday, August 29th. The stock was 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 in the company, valued at $1,142,408.97. This trade represents a 14.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,666 shares of company stock worth $13,990,971 over the last quarter. 0.33% of the stock is currently owned by insiders.

Analyst Ratings Changes

TMO has been the subject of a number of analyst reports. Royal Bank Of Canada set a $561.00 price target on Thermo Fisher Scientific and gave the company an “outperform” rating in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Thursday. 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 report on Thursday, October 9th. Barclays upped their price target on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, 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. Nineteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $595.75.

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.