Thermo Fisher Scientific Inc. $TMO Shares Acquired by Renasant Bank

Renasant Bank increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,453 shares of the medical research company’s stock after purchasing an additional 916 shares during the period. Renasant Bank’s holdings in Thermo Fisher Scientific were worth $995,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. CBIZ Investment Advisory Services LLC boosted 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 last quarter. Anderson Financial Strategies LLC acquired a new position in Thermo Fisher Scientific during the first quarter worth $30,000. Keystone Global Partners LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter valued at $31,000. DiNuzzo Private Wealth Inc. grew 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 during the period. Finally, HighMark Wealth Management LLC increased its holdings in shares of 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 during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $586.37 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The company has a market cap of $220.30 billion, a price-to-earnings ratio of 33.87, a price-to-earnings-growth ratio of 3.27 and a beta of 0.82. The stock has a 50 day simple moving average of $522.26 and a 200-day simple moving average of $465.01.

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, topping the consensus estimate of $5.50 by $0.29. The firm 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%.Thermo Fisher Scientific’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is 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 currently 9.94%.

Insider Activity at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the completion of the transaction, the vice president directly owned 14,145 shares of the company’s stock, valued at $8,085,564.90. This trade represents a 41.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the sale, the chief accounting officer directly owned 2,319 shares in the company, valued at $1,142,408.97. This trade represents a 14.24% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 46,645 shares of company stock valued at $25,825,699. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TMO has been the subject of a number of research analyst reports. Hsbc Global Res cut Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. William Blair assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, August 18th. They issued an “outperform” rating for the company. Barclays raised their target price on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a report on Thursday, October 23rd. JPMorgan Chase & Co. raised their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, October 9th. Finally, Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, October 8th. Nineteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $601.65.

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.