Canoe Financial LP Increases Stock Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Canoe Financial LP dramatically increased its Thermo Fisher Scientific stake in Q1, boosting holdings by 21,893.9% to 160,995 shares valued at about $79.1 million.
• Thermo Fisher reported strong quarterly results, with EPS of $5.44 topping estimates and revenue of $11.01 billion also beating forecasts; revenue rose 6.2% year over year.
• Analysts remain generally positive on TMO, with a consensus rating of Moderate Buy and an average price target of $605.09, though HSBC recently cut its rating to hold and lowered its target.

Canoe Financial LP boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21,893.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 160,995 shares of the medical research company's stock after purchasing an additional 160,263 shares during the period. Canoe Financial LP's holdings in Thermo Fisher Scientific were worth $79,134,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TMO. J. Stern & Co. LLP increased its position in Thermo Fisher Scientific by 58,006.4% during the fourth quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company's stock valued at $18,258,082,000 after acquiring an additional 31,455,105 shares during the last quarter. Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter worth about $3,072,744,000. Auto Owners Insurance Co grew its stake in shares of Thermo Fisher Scientific by 57,845.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,427,896 shares of the medical research company's stock valued at $1,406,844,000 after purchasing an additional 2,423,706 shares during the period. T. Rowe Price Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 2,183.2% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,328,845 shares of the medical research company's stock valued at $770,000,000 after purchasing an additional 1,270,643 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Thermo Fisher Scientific by 88.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company's stock worth $1,309,292,000 after purchasing an additional 1,270,191 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

TMO opened at $513.54 on Monday. The company has a 50 day simple moving average of $474.08 and a two-hundred day simple moving average of $519.85. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.53 and a quick ratio of 1.15. The firm has a market cap of $190.84 billion, a P/E ratio of 28.23, a PEG ratio of 2.27 and a beta of 0.88. Thermo Fisher Scientific Inc. has a 1-year low of $401.45 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share for the quarter, beating analysts' consensus estimates of $5.25 by $0.19. The company had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.86 billion. Thermo Fisher Scientific had a net margin of 15.15% and a return on equity of 16.86%. Thermo Fisher Scientific's revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.15 EPS. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 24.85 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, June 15th. Thermo Fisher Scientific's payout ratio is presently 10.34%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, COO Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $462.66, for a total transaction of $185,064.00. Following the completion of the sale, the chief operating officer owned 25,051 shares in the company, valued at approximately $11,590,095.66. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on TMO shares. Morgan Stanley restated an "overweight" rating and set a $620.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, April 27th. Robert W. Baird dropped their price target on shares of Thermo Fisher Scientific from $653.00 to $639.00 and set an "outperform" rating on the stock in a research note on Friday, April 24th. HSBC lowered Thermo Fisher Scientific from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $670.00 to $540.00 in a research note on Wednesday, June 3rd. Wolfe Research began coverage on Thermo Fisher Scientific in a report on Tuesday, June 2nd. They set an "outperform" rating and a $535.00 price target for the company. Finally, Sanford C. Bernstein assumed coverage on Thermo Fisher Scientific in a research report on Friday. They issued a "market perform" rating and a $520.00 price target for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $605.09.

Thermo Fisher Scientific 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.

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