PNC Financial Services Group Inc. Has $103.09 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

PNC Financial Services Group Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 254,250 shares of the medical research company’s stock after selling 17,803 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Thermo Fisher Scientific were worth $103,088,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC increased its position in Thermo Fisher Scientific by 137.5% during the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after acquiring an additional 33 shares during the period. Anderson Financial Strategies LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at about $30,000. Keystone Global Partners LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $31,000. IMA Advisory Services Inc. acquired a new position in Thermo Fisher Scientific during the first quarter valued at approximately $35,000. Finally, DiNuzzo Private Wealth Inc. increased its stake in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 61 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 7,250 shares of the business’s 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 $64,400,668.20. The trade was a 5.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction that occurred 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 directly owned 2,319 shares in the company, valued at approximately $1,142,408.97. This trade represents a 14.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 46,645 shares of company stock valued at $25,825,699. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $588.53 on Thursday. The company has a market cap of $221.12 billion, a P/E ratio of 34.00, a PEG ratio of 3.27 and a beta of 0.82. 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 business has a 50-day moving average price of $524.35 and a two-hundred day moving average price of $465.87. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The firm’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be paid 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 yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group lifted their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. Raymond James Financial reiterated an “outperform” rating and set a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $560.00 to $656.00 and gave the company an “overweight” rating in a report on Tuesday, October 28th. Royal Bank Of Canada set a $561.00 target price on Thermo Fisher Scientific and gave the company an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Nineteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has an average 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.