Thermo Fisher Scientific Inc. $TMO Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,093,621 shares of the medical research company’s stock after selling 71,637 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.3% of Parnassus Investments LLC’s investment portfolio, making the stock its 12th largest holding. Parnassus Investments LLC owned 0.55% of Thermo Fisher Scientific worth $1,015,448,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TMO. CBIZ Investment Advisory Services LLC raised its holdings in shares of 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 purchasing an additional 33 shares during the last quarter. Highline Wealth Partners LLC grew its position in 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 worth $29,000 after purchasing an additional 33 shares during the period. Capital A Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. DiNuzzo Private Wealth Inc. boosted its stake 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 worth $31,000 after buying an additional 61 shares during the last quarter. Finally, HighMark Wealth Management LLC raised its position in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 45 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. The trade was a 32.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Lisa P. Britt sold 10,225 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the completion of the sale, the vice president owned 14,145 shares of the company’s stock, valued at $8,085,564.90. This trade represents a 41.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 149,271 shares of company stock worth $86,507,282 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $619.14 on Friday. The company has a market cap of $232.62 billion, a price-to-earnings ratio of 35.77, a PEG ratio of 3.99 and a beta of 0.91. The firm’s fifty day simple moving average is $581.35 and its two-hundred day simple moving average is $516.55. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $628.08.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results 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. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The firm had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the prior year, the firm earned $5.28 EPS. The company’s revenue for the quarter 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. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TMO. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. Evercore ISI reissued an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday. Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, October 8th. Barclays increased their target price on shares of Thermo Fisher Scientific from $585.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, October 23rd. Finally, Morgan Stanley lifted their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $625.47.

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.