Clear Harbor Asset Management LLC Makes New Investment in Thermo Fisher Scientific Inc. $TMO

Key Points

• Clear Harbor Asset Management bought 11,758 Thermo Fisher Scientific shares in the second quarter, valued at approximately $5.9 million. Institutional investors and hedge funds collectively own 89.23% of TMO.
• Analysts maintain a generally positive outlook, with one Strong Buy, 16 Buy, and six Hold ratings. The stock has an average price target of $619.41, while recent targets range as high as $650.
• Thermo Fisher exceeded quarterly expectations with adjusted EPS of $6.03 and revenue of $11.99 billion, up 10.5% year over year. The company also declared a quarterly dividend of $0.47 per share, representing a 0.3% annualized yield.

Clear Harbor Asset Management LLC bought a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,758 shares of the medical research company's stock, valued at approximately $5,895,000.

A number of other institutional investors have also recently made changes to their positions in TMO. J. Stern & Co. LLP lifted its holdings in Thermo Fisher Scientific by 58,006.4% in the 4th 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 purchasing an additional 31,455,105 shares in the last quarter. BlackRock Inc. acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $15,501,867,000. Norges Bank acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $3,072,744,000. Bank of New York Mellon Corp acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $1,974,561,000. Finally, Auto Owners Insurance Co raised its position 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 buying an additional 2,423,706 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Royal Bank Of Canada upped their target price on shares of Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Stifel Nicolaus set a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Wednesday, August 5th. HSBC lowered shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $670.00 to $540.00 in a report on Wednesday, June 3rd. Finally, Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $650.00 and gave the company an "overweight" rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $619.41.

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 420 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $584.81, for a total transaction of $245,620.20. Following the completion of the transaction, the chief accounting officer directly owned 2,966 shares of the company's stock, valued at $1,734,546.46. The trade was a 12.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $565.00, for a total value of $226,000.00. Following the completion of the sale, the chief operating officer directly owned 24,651 shares in the company, valued at $13,927,815. This represents a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 63,493 shares of company stock valued at $37,657,681 in the last 90 days. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 0.2%

NYSE TMO opened at $629.02 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55. The firm has a market cap of $232.58 billion, a price-to-earnings ratio of 33.84, a PEG ratio of 2.56 and a beta of 0.85. The firm has a 50 day simple moving average of $542.53 and a 200-day simple moving average of $509.70. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, July 23rd. The medical research company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.71 by $0.32. The firm had revenue of $11.99 billion for the quarter, compared to the consensus estimate of $11.71 billion. Thermo Fisher Scientific had a net margin of 15.04% and a return on equity of 17.09%. The firm's revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.28 EPS. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.12 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source