Perpetual Ltd Sells 61,065 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Perpetual Ltd cut its Thermo Fisher Scientific stake by 29.2% in the third quarter, selling 61,065 shares and retaining 148,301 shares valued at approximately $100.1 million.
• Thermo Fisher reported quarterly results above expectations, with adjusted earnings of $6.03 per share and revenue of $11.99 billion; revenue increased 10.5% year over year.
• Analyst sentiment remains broadly positive, with the stock carrying a “Moderate Buy” consensus and an average price target of $638.67, although recent targets and ratings were mixed.

Perpetual Ltd decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 29.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,301 shares of the medical research company's stock after selling 61,065 shares during the period. Thermo Fisher Scientific comprises approximately 1.6% of Perpetual Ltd's holdings, making the stock its 21st largest holding. Perpetual Ltd's holdings in Thermo Fisher Scientific were worth $100,111,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Bank OZK acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $1,096,000. Ausdal Financial Partners Inc. bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $456,000. BlackRock Inc. acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $15,501,867,000. German American Bancorp Inc. bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at $4,920,000. Finally, Parallax Volatility Advisers L.P. bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at $814,000. Institutional investors own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $565.00, for a total transaction of $226,000.00. Following the transaction, the chief operating officer owned 24,651 shares of the company's stock, valued at approximately $13,927,815. This represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Joseph Holmes sold 420 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $584.81, for a total value of $245,620.20. Following the completion of the transaction, the chief accounting officer owned 2,966 shares in the company, valued at $1,734,546.46. The trade was a 12.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 73,768 shares of company stock worth $44,122,820 over the last ninety days. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Up 0.6%

Shares of NYSE:TMO opened at $661.65 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.55 and a debt-to-equity ratio of 0.74. The firm has a market cap of $244.64 billion, a P/E ratio of 35.59, a P/E/G ratio of 2.75 and a beta of 0.87. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $694.33. The company's 50-day moving average price is $629.14 and its two-hundred day moving average price is $543.01.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, July 23rd. The medical research company reported $6.03 earnings per share for the quarter, topping analysts' consensus estimates of $5.71 by $0.32. Thermo Fisher Scientific had a net margin of 15.04% and a return on equity of 17.09%. The company had revenue of $11.99 billion during the quarter, compared to the consensus estimate of $11.71 billion. During the same period in the previous year, the firm posted $4.28 earnings per share. The company's revenue was up 10.5% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 25.13 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on TMO. Sanford C. Bernstein started coverage on shares of Thermo Fisher Scientific in a report on Friday, June 26th. They issued a "market perform" rating and a $520.00 target price on the stock. Weiss Ratings upgraded shares of Thermo Fisher Scientific from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. UBS Group raised shares of Thermo Fisher Scientific from a "neutral" rating to a "buy" rating and lifted their price target for the company from $540.00 to $730.00 in a report on Tuesday, September 8th. Piper Sandler started coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 9th. They issued an "overweight" rating on the stock. Finally, Wells Fargo & Company cut shares of Thermo Fisher Scientific from an "overweight" rating to an "underweight" rating in a research note on Wednesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $638.67.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc is a global provider of laboratory products, analytical instruments, reagents, consumables, software and services. Its offerings support research, drug discovery and development, clinical diagnostics, biotechnology and pharmaceutical manufacturing, as well as environmental, industrial and other applied markets.

The company's portfolio includes mass spectrometers, genetic analysis and sequencing systems, electron microscopes, chromatography equipment, laboratory plastics, cell culture products, antibodies, protein and molecular biology reagents, and diagnostic testing solutions.

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