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Eastern Bank Sells 1,126 Shares of Thermo Fisher Scientific Inc. $TMO

Thermo Fisher Scientific logo with Medical background

Key Points

  • Eastern Bank has reduced its holdings in Thermo Fisher Scientific Inc. by 12.7%, selling 1,126 shares, leaving them with 7,774 shares valued at approximately $3.15 million.
  • Thermo Fisher reported earnings of $5.36 per share for the last quarter, exceeding estimates, with a revenue of $10.86 billion, marking a 2.9% year-over-year increase.
  • Analysts are optimistic about Thermo Fisher, with an average target price of $593.43, as Barclays and Scotiabank have raised their price targets to $585.00 and $590.00 respectively.
  • Five stocks we like better than Thermo Fisher Scientific.

Eastern Bank reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,774 shares of the medical research company's stock after selling 1,126 shares during the period. Eastern Bank's holdings in Thermo Fisher Scientific were worth $3,152,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Revolve Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after buying an additional 20 shares during the period. Root Financial Partners LLC boosted its holdings in Thermo Fisher Scientific by 5.0% in the 1st quarter. Root Financial Partners LLC now owns 506 shares of the medical research company's stock valued at $252,000 after purchasing an additional 24 shares during the period. Rossmore Private Capital boosted its holdings in Thermo Fisher Scientific by 0.5% in the 1st quarter. Rossmore Private Capital now owns 4,652 shares of the medical research company's stock valued at $2,315,000 after purchasing an additional 24 shares during the period. FARMERS & MERCHANTS TRUST Co OF LONG BEACH boosted its holdings in Thermo Fisher Scientific by 3.1% in the 2nd quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 803 shares of the medical research company's stock valued at $326,000 after purchasing an additional 24 shares during the period. Finally, Somerville Kurt F boosted its holdings in Thermo Fisher Scientific by 1.6% in the 2nd quarter. Somerville Kurt F now owns 1,605 shares of the medical research company's stock valued at $651,000 after purchasing an additional 25 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $524.95 on Friday. The stock has a market capitalization of $198.23 billion, a price-to-earnings ratio of 30.36, a P/E/G ratio of 2.90 and a beta of 0.77. The firm's 50-day moving average price is $488.68 and its two-hundred day moving average price is $448.39. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. The company had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company's revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $5.37 earnings per share. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on TMO shares. Barclays increased their price target on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Redburn Partners set a $580.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a research note on Friday, July 11th. Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an "overweight" rating in a research note on Thursday. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $593.43.

Read Our Latest Analysis on Thermo Fisher Scientific

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Joseph R. Holmes sold 385 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares of the company's stock, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,066 shares of company stock valued at $14,182,963. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Read More

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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