Cornerstone Capital Inc. Buys 2,840 Shares of Thermo Fisher Scientific Inc. $TMO

Cornerstone Capital Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the second quarter, Holdings Channel reports. The fund owned 50,205 shares of the medical research company’s stock after buying an additional 2,840 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.1% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 19th biggest holding. Cornerstone Capital Inc.’s holdings in Thermo Fisher Scientific were worth $20,356,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TMO. CBIZ Investment Advisory Services LLC boosted its stake 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 buying an additional 33 shares in the last quarter. Anderson Financial Strategies LLC acquired a new position in Thermo Fisher Scientific in the first quarter worth $30,000. Keystone Global Partners LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter worth about $31,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Thermo Fisher Scientific by 406.7% in the second 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 in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its holdings in Thermo Fisher Scientific by 450.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 77 shares of the medical research company’s stock valued at $38,000 after acquiring an additional 63 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.3%

Shares of NYSE:TMO opened at $585.85 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.11 and a current ratio of 1.50. The company has a market capitalization of $220.11 billion, a P/E ratio of 33.84, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The company has a 50-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 quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. The firm had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase plan 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

TMO has been the topic of several analyst reports. Leerink Partners increased their target price on Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. Nineteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $601.65.

Insider Activity at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 1,058 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total transaction of $622,379.08. Following the completion of the sale, the vice president owned 13,087 shares in the company, valued at $7,698,558.62. The trade was a 7.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 113,762 shares in the company, valued at approximately $64,400,668.20. This trade represents a 5.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 41,845 shares of company stock worth $23,947,352 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific 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.