Kornitzer Capital Management Inc. KS Has $2.77 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Kornitzer Capital Management Inc. reduced its holdings in Thermo Fisher Scientific by 7% in Q2, now owning 6,825 shares valued at approximately $2.77 million.
• Several other institutional investors also adjusted their positions, with notable increases from CBIZ Investment Advisory Services (up 137.5%) and DiNuzzo Private Wealth Inc. (up 406.7%).
• Thermo Fisher recently reported a quarterly EPS of $5.79, exceeding estimates, and projected FY 2025 EPS guidance between $22.600 and $22.860.

Kornitzer Capital Management Inc. KS cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,825 shares of the medical research company's stock after selling 514 shares during the period. Kornitzer Capital Management Inc. KS's holdings in Thermo Fisher Scientific were worth $2,767,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC increased its stake in shares of Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company's stock worth $28,000 after purchasing an additional 33 shares during the period. Anderson Financial Strategies LLC bought a new position in Thermo Fisher Scientific during the first quarter valued at about $30,000. Keystone Global Partners LLC bought a new position in Thermo Fisher Scientific during the first quarter valued at about $31,000. DiNuzzo Private Wealth Inc. increased its stake in Thermo Fisher Scientific by 406.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company's stock valued at $31,000 after acquiring an additional 61 shares during the period. Finally, HighMark Wealth Management LLC increased its stake in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company's stock valued at $31,000 after acquiring an additional 45 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 385 shares of the business'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 value of $189,662.55. Following the transaction, the chief accounting officer directly owned 2,319 shares of the company's stock, valued at $1,142,408.97. The trade was a 14.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $500.96, for a total value of $5,009,600.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares in the company, valued at $57,697,567.04. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,666 shares of company stock worth $13,990,971 over the last three months. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.2%

Shares of TMO opened at $573.07 on Friday. The company has a market capitalization of $216.40 billion, a P/E ratio of 33.11, a PEG ratio of 3.24 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.50. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $610.97. The business's 50 day simple moving average is $504.04 and its 200-day simple moving average is $453.55.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping the consensus estimate of $5.50 by $0.29. The business had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.Thermo Fisher Scientific's revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned $5.28 EPS. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. Cowen restated a "buy" rating on shares of Thermo Fisher Scientific in a research note on Thursday. Evercore ISI boosted their price target on Thermo Fisher Scientific from $525.00 to $590.00 and gave the company an "outperform" rating in a research note on Tuesday, October 7th. Hsbc Global Res lowered Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Weiss Ratings restated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Tuesday, October 14th. Finally, HSBC reiterated a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Nineteen analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $595.75.

Thermo Fisher Scientific Profile

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.

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 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.