Thermo Fisher Scientific Inc. $TMO Shares Sold by Bowen Hanes & Co. Inc.

Key Points

• Bowen Hanes & Co. Inc. trimmed its Thermo Fisher Scientific stake by 2.4% in the fourth quarter, though it still held 101,505 shares valued at about $58.8 million.
• Thermo Fisher also saw a small insider sale: COO Gianluca Pettiti sold 400 shares in a pre-arranged 10b5-1 transaction, leaving him with 25,051 shares.
• The company recently beat quarterly earnings and revenue estimates, and analysts remain broadly positive with a consensus rating of Moderate Buy and an average price target of $613.67.

Bowen Hanes & Co. Inc. reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,505 shares of the medical research company's stock after selling 2,545 shares during the quarter. Bowen Hanes & Co. Inc.'s holdings in Thermo Fisher Scientific were worth $58,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. High Note Wealth LLC boosted its stake in shares of Thermo Fisher Scientific by 170.6% in the 4th quarter. High Note Wealth LLC now owns 46 shares of the medical research company's stock valued at $27,000 after buying an additional 29 shares during the period. JPL Wealth Management LLC purchased a new stake in Thermo Fisher Scientific during the third quarter worth approximately $28,000. Beacon Financial Strategies CORP purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Olistico Wealth LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Finally, Core Wealth Advisors LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity

In other 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 value of $185,064.00. Following the transaction, the chief operating officer owned 25,051 shares of the company's stock, valued at approximately $11,590,095.66. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TMO shares. HSBC cut Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research note on Wednesday. Morgan Stanley restated an "overweight" rating and set a $620.00 target price on shares of Thermo Fisher Scientific in a research note on Monday, April 27th. Wall Street Zen cut Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research note on Saturday, May 9th. Jefferies Financial Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a research note on Friday, April 24th. Finally, KeyCorp reaffirmed an "overweight" rating on shares of Thermo Fisher Scientific in a research report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $613.67.

Thermo Fisher Scientific Trading Down 1.6%

TMO opened at $474.25 on Thursday. The firm has a market cap of $176.24 billion, a price-to-earnings ratio of 26.07, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88. 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 business's 50 day moving average is $480.44 and its two-hundred day moving average is $532.17. 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 released its earnings results on Thursday, April 23rd. The medical research company reported $5.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.25 by $0.19. The business had revenue of $11.01 billion for the quarter, compared to analyst estimates 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 for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.15 earnings per share. Thermo Fisher Scientific has set its FY 2026 guidance at 24.640-25.120 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 24.86 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.88 dividend on an annualized basis and a dividend 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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.