North Growth Management Ltd. Purchases 6,000 Shares of Thermo Fisher Scientific Inc. $TMO

North Growth Management Ltd. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,000 shares of the medical research company’s stock after purchasing an additional 6,000 shares during the period. Thermo Fisher Scientific accounts for approximately 1.8% of North Growth Management Ltd.’s portfolio, making the stock its 24th biggest holding. North Growth Management Ltd.’s holdings in Thermo Fisher Scientific were worth $9,995,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. TIAA Trust National Association grew its stake in shares of Thermo Fisher Scientific by 10.5% in the second quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after acquiring an additional 11,817 shares during the last quarter. Lombard Odier Asset Management Switzerland SA grew its position in Thermo Fisher Scientific by 8.4% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after purchasing an additional 1,128 shares during the last quarter. Caledonia Investments PLC increased its holdings in shares of Thermo Fisher Scientific by 11.5% during the 2nd quarter. Caledonia Investments PLC now owns 111,767 shares of the medical research company’s stock worth $45,299,000 after purchasing an additional 11,500 shares during the period. Weaver Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $506,000. Finally, Heritage Investors Management Corp lifted its stake in shares of Thermo Fisher Scientific by 9.6% in the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock valued at $22,944,000 after buying an additional 4,971 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.2%

Shares of Thermo Fisher Scientific stock opened at $592.19 on Friday. The stock has a market capitalization of $222.49 billion, a P/E ratio of 34.21, a price-to-earnings-growth ratio of 3.90 and a beta of 0.91. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $610.97. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The company has a 50-day simple moving average of $575.98 and a 200 day simple moving average of $509.74.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.29. The company had revenue of $11.12 billion during the quarter, compared to analyst estimates of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $5.28 earnings per share. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Monday, December 15th will be paid a $0.43 dividend. 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 Buying and Selling

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the stock in a transaction that occurred on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the sale, the chief executive officer directly owned 113,762 shares in the company, valued at $64,400,668.20. This trade represents a 5.99% decrease in their ownership of the stock. 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 90 days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the subject of several recent research reports. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target for the company. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research note on Sunday, December 7th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Leerink Partners increased their price target on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen lifted their price objective on Thermo Fisher Scientific from $612.00 to $654.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $616.60.

About Thermo Fisher Scientific

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.