Pinnacle Associates Ltd. Trims Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Pinnacle Associates Ltd. cut its stake in Thermo Fisher Scientific by 10.2% in the fourth quarter, selling 2,449 shares and leaving it with 21,637 shares valued at about $12.5 million.
• Despite mixed insider activity and some analyst price-target reductions, Wall Street remains broadly positive on TMO, with a consensus Buy rating and an average target price of $616.10.
• Thermo Fisher recently beat earnings and revenue expectations, reporting $5.44 EPS on $11.01 billion in revenue, while also raising its quarterly dividend to $0.47 per share.

Pinnacle Associates Ltd. decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,637 shares of the medical research company's stock after selling 2,449 shares during the quarter. Pinnacle Associates Ltd.'s holdings in Thermo Fisher Scientific were worth $12,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of TMO. Vanguard Group Inc. grew its stake in 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 buying an additional 288,296 shares in the last quarter. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 7.4% during 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 acquiring an additional 706,572 shares during the period. Franklin Resources Inc. increased its stake in shares of Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock worth $2,874,069,000 after buying an additional 1,028,125 shares during the period. Bank of New York Mellon Corp increased its holdings in Thermo Fisher Scientific by 54.7% during 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. Finally, Massachusetts Financial Services Co. MA lifted its stake in Thermo Fisher Scientific by 5.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 3,087,666 shares of the medical research company's stock worth $1,789,148,000 after acquiring an additional 150,668 shares during the period. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on TMO shares. Jefferies Financial Group upgraded shares of Thermo Fisher Scientific to a "strong-buy" rating in a research report on Friday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $620.00 target price on shares of Thermo Fisher Scientific in a report on Monday, April 27th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $653.00 to $639.00 and set an "outperform" rating on the stock in a research report on Friday, April 24th. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $675.00 to $615.00 and set an "overweight" rating for the company in a research note on Friday, May 8th. Finally, UBS Group restated a "neutral" rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Two investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Buy" and an average target price of $616.10.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $448.12 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.53 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $166.53 billion, a P/E ratio of 24.64, a PEG ratio of 1.97 and a beta of 0.88. The company has a 50-day moving average price of $487.50 and a 200-day moving average price of $542.85. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, April 23rd. The medical research company reported $5.44 EPS for the quarter, beating analysts' consensus estimates of $5.25 by $0.19. Thermo Fisher Scientific had a net margin of 15.15% and a return on equity of 16.86%. The business had revenue of $11.01 billion during the quarter, compared to analysts' expectations of $10.86 billion. During the same period in the prior year, the company earned $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. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 24.86 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, March 13th. Thermo Fisher Scientific's dividend payout ratio is 10.34%.

Insider Buying and Selling

In related news, COO Gianluca Pettiti sold 400 shares of the business'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 transaction of $185,064.00. Following the completion of the transaction, 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 can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Marc N. Casper sold 5,000 shares of the business's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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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