Manning & Napier Advisors LLC Sells 4,831 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Manning & Napier Advisors cut its Thermo Fisher Scientific stake by 75.7% in the first quarter, selling 4,831 shares and leaving it with 1,553 shares worth about $763,000.
• Wall Street sentiment remains constructive, with Thermo Fisher carrying a consensus Moderate Buy rating and an average price target of $602.14 after several analysts reiterated or raised bullish ratings.
• The company reported strong quarterly results, topping EPS and revenue estimates, and also announced a quarterly dividend of $0.47 per share, payable October 15.

Manning & Napier Advisors LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 75.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,553 shares of the medical research company's stock after selling 4,831 shares during the period. Manning & Napier Advisors LLC's holdings in Thermo Fisher Scientific were worth $763,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Thermo Fisher Scientific by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 34,133,702 shares of the medical research company's stock worth $19,778,774,000 after purchasing an additional 288,296 shares during the last quarter. J. Stern & Co. LLP increased its holdings in Thermo Fisher Scientific by 58,006.4% in the fourth quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company's stock valued at $18,258,082,000 after purchasing an additional 31,455,105 shares during the last quarter. State Street Corp lifted its stake in Thermo Fisher Scientific by 1.4% in the fourth quarter. State Street Corp now owns 16,613,761 shares of the medical research company's stock valued at $9,633,991,000 after buying an additional 229,630 shares during the period. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 7.0% during the fourth quarter. Capital World Investors now owns 11,003,814 shares of the medical research company's stock worth $6,376,229,000 after buying an additional 718,669 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 8,196,477 shares of the medical research company's stock valued at $4,728,129,000 after acquiring an additional 26,425 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on TMO shares. Wolfe Research assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They set an "outperform" rating and a $535.00 price objective on the stock. KeyCorp reiterated an "overweight" rating on shares of Thermo Fisher Scientific in a report on Tuesday, May 26th. Jefferies Financial Group raised shares of Thermo Fisher Scientific to a "strong-buy" rating in a report on Friday, April 24th. Stifel Nicolaus lowered their price objective on shares of Thermo Fisher Scientific from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Finally, HSBC lowered Thermo Fisher Scientific from a "buy" rating to a "hold" rating and reduced their target price for the stock from $670.00 to $540.00 in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $602.14.

Insiders Place Their Bets

In other news, COO Gianluca Pettiti sold 400 shares of the firm'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 transaction of $185,064.00. Following the completion of the transaction, the chief operating officer directly owned 25,051 shares of the company's stock, valued at $11,590,095.66. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal 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. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 0.1%

Shares of NYSE:TMO opened at $526.72 on Monday. The firm has a market cap of $195.74 billion, a price-to-earnings ratio of 28.96, a PEG ratio of 2.33 and a beta of 0.87. The company has a quick ratio of 1.15, a current ratio of 1.53 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's fifty day simple moving average is $478.23 and its 200 day simple moving average is $516.03.

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, topping analysts' consensus estimates of $5.25 by $0.19. The firm had revenue of $11.01 billion during the quarter, compared to analysts' expectations 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 was up 6.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.15 EPS. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 24.84 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.