Bank of America Corp DE Buys New Shares in Thermo Fisher Scientific Inc. $TMO

Key Points

• Bank of America acquired 3.9 million Thermo Fisher shares worth approximately $1.95 billion in the second quarter, giving it a 1.05% stake. Institutional investors and hedge funds collectively own 89.23% of TMO.
• Thermo Fisher reported strong quarterly results, with revenue rising 10.5% year over year to $11.99 billion and EPS of $6.03, exceeding analyst expectations of $5.71. Shares recently traded at $614.11, near their 52-week high.
• The company declared a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 payout and a 0.3% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $624.64, despite one recent downgrade to “underweight.”

Bank of America Corp DE bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,895,265 shares of the medical research company's stock, valued at approximately $1,952,930,000. Bank of America Corp DE owned 1.05% of Thermo Fisher Scientific as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TMO. BlackRock Inc. bought a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $15,501,867,000. State Street Corp grew its holdings in shares of Thermo Fisher Scientific by 1.4% in the 4th quarter. State Street Corp now owns 16,613,761 shares of the medical research company's stock valued at $9,633,991,000 after acquiring an additional 229,630 shares in the last quarter. Capital World Investors increased its stake in shares of Thermo Fisher Scientific by 7.0% during the 4th quarter. Capital World Investors now owns 11,003,814 shares of the medical research company's stock worth $6,376,229,000 after purchasing an additional 718,669 shares during the last quarter. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 8,196,477 shares of the medical research company's stock worth $4,728,129,000 after purchasing an additional 26,425 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 7.1% in the 4th quarter. Franklin Resources Inc. now owns 6,346,512 shares of the medical research company's stock valued at $3,677,486,000 after acquiring an additional 420,841 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Up 0.7%

Shares of TMO stock opened at $614.11 on Tuesday. The company's fifty day simple moving average is $582.32 and its two-hundred day simple moving average is $519.25. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.55 and a quick ratio of 1.18. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $647.00. The stock has a market capitalization of $227.07 billion, a price-to-earnings ratio of 33.03, a PEG ratio of 2.55 and a beta of 0.85.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The medical research company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.71 by $0.32. Thermo Fisher Scientific had a net margin of 15.04% and a return on equity of 17.09%. The company had revenue of $11.99 billion during the quarter, compared to analysts' expectations of $11.71 billion. During the same quarter in the previous year, the company earned $4.28 earnings per share. Thermo Fisher Scientific's revenue for the quarter was up 10.5% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 25.13 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific's payout ratio is presently 10.11%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 420 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $584.81, for a total value of $245,620.20. Following the completion of the sale, the chief accounting officer owned 2,966 shares in the company, valued at approximately $1,734,546.46. This trade represents a 12.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 275 shares of the company's stock in a transaction on Monday, August 24th. The stock was sold at an average price of $627.05, for a total transaction of $172,438.75. Following the completion of the transaction, the chief executive officer owned 123,925 shares of the company's stock, valued at $77,707,171.25. This trade represents a 0.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 73,768 shares of company stock valued at $44,122,820. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wolfe Research began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, June 2nd. They set an "outperform" rating and a $535.00 target price on the stock. Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an "overweight" rating in a report on Friday, July 24th. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Wells Fargo & Company downgraded shares of Thermo Fisher Scientific from an "overweight" rating to an "underweight" rating in a research report on Wednesday, September 9th. Finally, Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, July 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $624.64.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global supplier of scientific equipment, laboratory services and analytical technologies. The company serves pharmaceutical and biotechnology companies, clinical laboratories, academic and government institutions, industrial businesses and other research organizations.

Its products and services include laboratory instruments, analytical systems, reagents, consumables, software and related services. Thermo Fisher also provides laboratory supplies and equipment, bioproduction solutions, genetic analysis technologies, clinical diagnostics, specialty diagnostic products and contract research and manufacturing services through its laboratory services businesses.

The company was formed in 2006 through the merger of Thermo Electron Corporation and Fisher Scientific International.

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