Geode Capital Management LLC Has $3.27 Billion Stock Position in Thermo Fisher Scientific Inc. $TMO

Geode Capital Management LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,114,787 shares of the medical research company’s stock after selling 12,399 shares during the quarter. Geode Capital Management LLC owned 2.15% of Thermo Fisher Scientific worth $3,274,161,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TMO. Everett Harris & Co. CA increased its stake in Thermo Fisher Scientific by 5.1% during the second quarter. Everett Harris & Co. CA now owns 15,455 shares of the medical research company’s stock valued at $6,266,000 after acquiring an additional 746 shares during the period. Wealth Alliance LLC increased its position in shares of Thermo Fisher Scientific by 40.6% during the second quarter. Wealth Alliance LLC now owns 2,841 shares of the medical research company’s stock valued at $1,152,000 after purchasing an additional 821 shares during the period. Quinn Opportunity Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $1,216,000. M&G PLC lifted its position in Thermo Fisher Scientific by 233.1% in the second quarter. M&G PLC now owns 393,766 shares of the medical research company’s stock worth $159,475,000 after purchasing an additional 275,547 shares during the period. Finally, Fairbanks Capital Management Inc. increased its holdings in Thermo Fisher Scientific by 6.7% in the 2nd quarter. Fairbanks Capital Management Inc. now owns 1,827 shares of the medical research company’s stock valued at $741,000 after buying an additional 115 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.7%

NYSE:TMO opened at $586.37 on Wednesday. The stock’s fifty day moving average price is $522.26 and its two-hundred day moving average price is $465.01. The company has a market cap of $220.30 billion, a price-to-earnings ratio of 33.87, a P/E/G ratio of 3.27 and a beta of 0.82. 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.

Thermo Fisher Scientific (NYSE:TMO) last released 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 during the quarter, compared to the consensus estimate 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 quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on TMO shares. Argus lifted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Evercore ISI lifted their price objective on Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an “outperform” rating in a report on Tuesday, October 7th. Barclays increased their target price on Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a report on Thursday, October 23rd. Robert W. Baird boosted their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an “outperform” rating in a research note on Thursday, July 24th. Finally, UBS Group lifted their price objective on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. Nineteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $601.65.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 385 shares of the 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 of the company’s stock, valued at $1,142,408.97. This represents a 14.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were 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 owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 46,645 shares of company stock valued at $25,825,699. 0.33% of the stock is currently owned by corporate insiders.

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.