Huntington National Bank Has $40.95 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Huntington National Bank cut its Thermo Fisher Scientific stake by 12.1% in the fourth quarter, selling 9,727 shares and leaving it with 70,671 shares valued at about $40.95 million.
• Thermo Fisher reported better-than-expected Q1 results, posting $5.44 EPS and $11.01 billion in revenue, both above analyst estimates, while revenue rose 6.2% year over year.
• Analysts remain generally positive on TMO, with a consensus rating of Moderate Buy and an average target price of $616.10, though some firms have recently trimmed their price targets.

Huntington National Bank lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,671 shares of the medical research company's stock after selling 9,727 shares during the period. Huntington National Bank's holdings in Thermo Fisher Scientific were worth $40,950,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TMO. Wellington Management Group LLP increased its holdings 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 valued at $1,309,292,000 after purchasing an additional 1,270,191 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Thermo Fisher Scientific by 54.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company's stock valued at $1,732,422,000 after purchasing an additional 1,262,967 shares during the period. Franklin Resources Inc. increased its holdings in shares of Thermo Fisher Scientific by 21.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock valued at $2,874,069,000 after purchasing an additional 1,028,125 shares during the period. Corient Private Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 89.1% in the 2nd quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company's stock valued at $720,576,000 after purchasing an additional 825,649 shares during the period. Finally, Capital World Investors increased its holdings in shares of Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company's stock valued at $4,988,132,000 after purchasing an additional 706,572 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TMO. UBS Group reiterated a "neutral" rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. KeyCorp reiterated an "overweight" rating on shares of Thermo Fisher Scientific in a report on Tuesday. Jefferies Financial Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a report on Friday, April 24th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $675.00 to $615.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. Finally, TD Cowen dropped their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $616.10.

Thermo Fisher Scientific Trading Up 1.9%

NYSE:TMO opened at $456.64 on Thursday. The stock's 50 day moving average price is $479.12 and its 200 day moving average price is $535.54. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a market capitalization of $169.70 billion, a P/E ratio of 25.10, a P/E/G ratio of 1.98 and a beta of 0.88. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.15 and a current ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The medical research company reported $5.44 EPS for the quarter, topping analysts' consensus estimates of $5.25 by $0.19. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 15.15%.The firm had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.86 billion. During the same quarter in the prior year, the company posted $5.15 earnings per share. The firm's revenue was up 6.2% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 24.86 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the sale, the chief executive officer owned 123,925 shares of the company's stock, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $462.66, for a total value of $185,064.00. Following the sale, the chief operating officer directly owned 25,051 shares of the company's stock, valued at $11,590,095.66. The trade was a 1.57% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Company 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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