QRG Capital Management Inc. Reduces Stock Holdings in Thermo Fisher Scientific Inc. $TMO

QRG Capital Management Inc. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 41.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,943 shares of the medical research company’s stock after selling 8,990 shares during the period. QRG Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $6,277,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares during the last quarter. Revolve Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Thermo Fisher Scientific by 24.5% during the 2nd quarter. Exchange Traded Concepts LLC now owns 2,831 shares of the medical research company’s stock worth $1,148,000 after acquiring an additional 558 shares in the last quarter. Bell Bank raised its stake in shares of Thermo Fisher Scientific by 4.4% in the 2nd quarter. Bell Bank now owns 2,067 shares of the medical research company’s stock valued at $838,000 after purchasing an additional 88 shares in the last quarter. Finally, Thomasville National Bank lifted its position in shares of Thermo Fisher Scientific by 73.0% during the second quarter. Thomasville National Bank now owns 34,529 shares of the medical research company’s stock worth $14,000,000 after purchasing an additional 14,573 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TMO. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. Leerink Partners increased their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, January 7th. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Buying and Selling

In other news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares in the company, valued at approximately $8,360,731.98. This trade represents a 32.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the sale, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at $47,404,976.52. This represents a 20.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 149,271 shares of company stock worth $86,507,282. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $619.16 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $629.87. 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 stock has a market cap of $232.62 billion, a PE ratio of 35.77, a price-to-earnings-growth ratio of 4.07 and a beta of 0.91. The company’s 50-day moving average price is $586.34 and its two-hundred day moving average price is $524.54.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. 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 quarter in the prior year, the company earned $5.28 earnings per share. The firm’s 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, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.