Keybank National Association OH Reduces Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Keybank National Association OH cut its Thermo Fisher Scientific stake by 4.3% in the first quarter, though it still held 279,710 shares valued at about $137.5 million at quarter-end.
• Thermo Fisher reported better-than-expected first-quarter results, with EPS of $5.44 versus $5.25 expected and revenue of $11.01 billion versus $10.86 billion expected; revenue rose 6.2% year over year.
• Analyst sentiment remains broadly positive despite some cuts to price targets, with the stock carrying a Moderate Buy consensus and an average target price of $605.09.

Keybank National Association OH lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 279,710 shares of the medical research company's stock after selling 12,685 shares during the quarter. Keybank National Association OH owned 0.08% of Thermo Fisher Scientific worth $137,486,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assetmark Inc. increased its stake in Thermo Fisher Scientific by 22.9% in the fourth quarter. Assetmark Inc. now owns 37,654 shares of the medical research company's stock worth $21,819,000 after purchasing an additional 7,023 shares during the period. Mackenzie Financial Corp lifted its holdings in Thermo Fisher Scientific by 29.4% during the 3rd quarter. Mackenzie Financial Corp now owns 276,545 shares of the medical research company's stock valued at $134,130,000 after buying an additional 62,790 shares in the last quarter. North Dakota State Investment Board purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $7,505,000. Quadrant Capital Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 30.9% in the third quarter. Quadrant Capital Group LLC now owns 14,277 shares of the medical research company's stock valued at $6,924,000 after purchasing an additional 3,369 shares during the period. Finally, EdgePoint Investment Group Inc. increased its holdings in Thermo Fisher Scientific by 5.0% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,388,662 shares of the medical research company's stock worth $673,529,000 after purchasing an additional 65,597 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

TMO has been the topic of several research reports. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Friday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and issued a $620.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, April 27th. Wall Street Zen lowered shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Royal Bank Of Canada set a $490.00 target price on Thermo Fisher Scientific and gave the company a "sector perform" rating in a research report on Thursday, May 14th. Finally, Weiss Ratings cut Thermo Fisher Scientific from a "hold (c)" rating to a "hold (c-)" rating in a research note on Monday. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $605.09.

Thermo Fisher Scientific Trading Up 1.8%

NYSE TMO opened at $522.38 on Friday. The stock has a market cap of $194.13 billion, a P/E ratio of 28.72, a P/E/G ratio of 2.27 and a beta of 0.87. The company has a current ratio of 1.53, a quick ratio of 1.15 and a debt-to-equity ratio of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $403.36 and a 12-month high of $643.99. The company has a fifty day simple moving average of $473.02 and a two-hundred day simple moving average of $518.12.

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 (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.19. The firm had revenue of $11.01 billion for 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 firm's revenue was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $5.15 EPS. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 24.84 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be given a $0.47 dividend. The ex-dividend date 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 currently 10.34%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 27th. The shares were 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 directly owned 25,051 shares in the company, valued at approximately $11,590,095.66. The trade was a 1.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate 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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