Granite Bay Wealth Management LLC Buys 2,270 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Granite Bay Wealth Management increased its Thermo Fisher Scientific stake by 17.2% in Q1, buying 2,270 more shares and bringing its total to 15,447 shares worth about $7.6 million.
• Institutional ownership remains high, with 89.23% of Thermo Fisher Scientific’s stock held by institutional investors and hedge funds. Several other firms also raised their positions during the quarter.
• Thermo Fisher’s recent fundamentals were solid: the company beat quarterly EPS and revenue estimates, and its quarterly dividend of $0.47 per share implies a 0.4% yield. Analysts currently rate the stock a “Moderate Buy” with an average price target of $602.14.

Granite Bay Wealth Management LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 17.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,447 shares of the medical research company's stock after purchasing an additional 2,270 shares during the period. Thermo Fisher Scientific accounts for 1.6% of Granite Bay Wealth Management LLC's portfolio, making the stock its 25th largest holding. Granite Bay Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $7,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Simplicity Wealth LLC raised its position in shares of Thermo Fisher Scientific by 8.7% during the first quarter. Simplicity Wealth LLC now owns 1,284 shares of the medical research company's stock worth $631,000 after acquiring an additional 103 shares during the last quarter. Candriam S.C.A. raised its holdings in Thermo Fisher Scientific by 18.9% during the 1st quarter. Candriam S.C.A. now owns 354,087 shares of the medical research company's stock worth $174,044,000 after purchasing an additional 56,368 shares during the last quarter. Osprey Private Wealth LLC lifted its position in Thermo Fisher Scientific by 7.3% during the 1st quarter. Osprey Private Wealth LLC now owns 20,537 shares of the medical research company's stock valued at $10,095,000 after purchasing an additional 1,397 shares during the period. Conning Inc. boosted its stake in shares of Thermo Fisher Scientific by 8.5% in the 1st quarter. Conning Inc. now owns 10,822 shares of the medical research company's stock valued at $5,319,000 after purchasing an additional 852 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Thermo Fisher Scientific by 3.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 15,810 shares of the medical research company's stock worth $7,771,000 after buying an additional 466 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TMO. Piper Sandler assumed coverage on shares of Thermo Fisher Scientific in a research note on Thursday, June 11th. They issued a "neutral" rating and a $510.00 price objective on the stock. Morgan Stanley reissued an "overweight" rating and issued a $620.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, April 27th. Barclays decreased their price objective on Thermo Fisher Scientific from $650.00 to $625.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. Wolfe Research began coverage on Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They issued an "outperform" rating and a $535.00 target price on the stock. Finally, Royal Bank Of Canada set a $490.00 target price on Thermo Fisher Scientific and gave the stock a "sector perform" rating in a research report on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $602.14.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $526.72 on Friday. The stock's fifty day simple moving average is $478.23 and its 200 day simple moving average is $516.44. The company has a current ratio of 1.53, a quick ratio of 1.15 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $195.74 billion, a PE ratio of 28.96, a PEG ratio of 2.32 and a beta of 0.87. Thermo Fisher Scientific Inc. has a 12 month low of $403.36 and a 12 month high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.19. The company had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.86 billion. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 15.15%.The company's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.15 earnings per share. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 24.84 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.34%.

Insiders Place Their Bets

In other news, COO Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $462.66, for a total value of $185,064.00. Following the completion of the transaction, the chief operating officer owned 25,051 shares in the company, valued at $11,590,095.66. This represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.33% of the company's stock.

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.

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