Smith Salley Wealth Management Raises Stake in Thermo Fisher Scientific Inc. $TMO

Smith Salley Wealth Management boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 58,846 shares of the medical research company’s stock after purchasing an additional 1,771 shares during the quarter. Thermo Fisher Scientific comprises 1.5% of Smith Salley Wealth Management’s portfolio, making the stock its 18th biggest position. Smith Salley Wealth Management’s holdings in Thermo Fisher Scientific were worth $28,541,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC lifted 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 valued at $28,000 after purchasing an additional 33 shares during the period. Highline Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the last quarter. Anderson Financial Strategies LLC purchased a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $30,000. Capital A Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after acquiring an additional 66 shares during the period. Finally, DiNuzzo Private Wealth Inc. lifted its holdings in 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 acquiring an additional 61 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TMO shares. Evercore ISI raised their price objective on shares of Thermo Fisher Scientific from $525.00 to $590.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 7th. Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research note on Sunday, December 7th. Leerink Partners lifted their price target 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. Finally, Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $616.60.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 17,104 shares of the company’s stock in a transaction that occurred on Friday, October 24th. The shares were sold at an average price of $573.54, for a total value of $9,809,828.16. Following the transaction, the chief executive officer directly owned 113,762 shares in the company, valued at approximately $65,247,057.48. This represents a 13.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the sale, the chief operating officer directly owned 65,480 shares in the company, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 149,271 shares of company stock valued at $86,507,282 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.3%

TMO stock opened at $583.52 on Wednesday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The business’s 50-day moving average is $575.23 and its 200 day moving average is $506.59. 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 $219.23 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 4.16 and a beta of 0.90.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. During the same period in the prior year, the business earned $5.28 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm 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 $0.43 dividend. The ex-dividend date is Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.94%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are 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.