Thermo Fisher Scientific Inc. $TMO Shares Bought by First Citizens Bank & Trust Co.

Key Points

• First Citizens Bank & Trust Co. increased its holdings in Thermo Fisher Scientific by 15.3%, bringing its total to 25,922 shares valued at approximately $10.51 million.
• Analysts have shown positivity towards Thermo Fisher Scientific, with Barclays raising their price target from $585.00 to $625.00, and a consensus rating of 'Moderate Buy' among 22 analysts.
• CEO Marc N. Casper sold 10,000 shares for about $5 million, resulting in a 7.99% decrease in his overall position in the company.

First Citizens Bank & Trust Co. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 15.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,922 shares of the medical research company's stock after acquiring an additional 3,434 shares during the period. First Citizens Bank & Trust Co.'s holdings in Thermo Fisher Scientific were worth $10,510,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after buying an additional 20 shares in the last quarter. GAMMA Investing LLC increased its stake in Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after buying an additional 877 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Thermo Fisher Scientific by 8.0% in the 1st quarter. GHP Investment Advisors Inc. now owns 6,790 shares of the medical research company's stock worth $3,379,000 after acquiring an additional 503 shares during the period. Finally, Consolidated Portfolio Review Corp boosted its holdings in shares of Thermo Fisher Scientific by 9.1% in the first quarter. Consolidated Portfolio Review Corp now owns 683 shares of the medical research company's stock valued at $340,000 after acquiring an additional 57 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TMO shares. Barclays lifted their price target on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an "overweight" rating in a research report on Thursday. UBS Group reissued a "neutral" rating on shares of Thermo Fisher Scientific in a research note on Thursday. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Thermo Fisher Scientific in a research report on Thursday. Leerink Partners upped their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, October 8th. Seventeen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $584.26.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were 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 approximately $57,697,567.04. This represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Joseph R. Holmes sold 385 shares of Thermo Fisher Scientific stock in a transaction on Friday, August 29th. The stock was sold at an average price of $492.63, for a total transaction 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. This represents a 14.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,066 shares of company stock worth $14,182,963 in the last three months. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Trading Up 1.1%

Shares of TMO stock opened at $563.98 on Thursday. The firm has a fifty day moving average of $500.65 and a 200-day moving average of $451.30. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The stock has a market cap of $212.96 billion, a price-to-earnings ratio of 32.62, a P/E/G ratio of 3.22 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $610.97.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The business had revenue of $11.12 billion during the quarter, compared to analysts' expectations of $10.90 billion. During the same period last year, the firm posted $5.28 EPS. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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.

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