Canandaigua National Bank & Trust Co. Sells 545 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Canandaigua National Bank & Trust Co. reduced its stake in Thermo Fisher Scientific by 7.3%, holding 6,893 shares worth approximately $2.8 million as of the latest SEC filing.
• Insiders at Thermo Fisher sold significant shares recently, with CAO Joseph R. Holmes selling 385 shares and CEO Marc N. Casper selling 400 shares, reflecting a decrease in their positions.
• Analyst ratings on Thermo Fisher are mixed, with an average rating of "Moderate Buy" and a price target of $592.24, indicating positive expectations despite some downgrades from brokerages.

Canandaigua National Bank & Trust Co. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,893 shares of the medical research company's stock after selling 545 shares during the period. Canandaigua National Bank & Trust Co.'s holdings in Thermo Fisher Scientific were worth $2,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. RMR Wealth Builders raised its holdings in Thermo Fisher Scientific by 24.6% during the second quarter. RMR Wealth Builders now owns 3,574 shares of the medical research company's stock valued at $1,449,000 after acquiring an additional 705 shares during the period. NBC Securities Inc. raised its holdings in Thermo Fisher Scientific by 9.4% during the second quarter. NBC Securities Inc. now owns 2,741 shares of the medical research company's stock valued at $1,111,000 after acquiring an additional 235 shares during the period. Apella Capital LLC raised its holdings in Thermo Fisher Scientific by 6.7% during the second quarter. Apella Capital LLC now owns 640 shares of the medical research company's stock valued at $268,000 after acquiring an additional 40 shares during the period. Gradient Investments LLC bought a new stake in Thermo Fisher Scientific during the second quarter valued at about $2,095,000. Finally, E. Ohman J or Asset Management AB raised its holdings in Thermo Fisher Scientific by 21.3% during the second quarter. E. Ohman J or Asset Management AB now owns 85,675 shares of the medical research company's stock valued at $34,738,000 after acquiring an additional 15,064 shares during the period. 89.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a report on Friday, July 11th. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. HSBC reaffirmed a "hold" rating and issued a $510.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Evercore ISI reduced their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $535.00 price target (up previously from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Seventeen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $592.24.

Insider Activity at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 385 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $492.63, for a total value of $189,662.55. Following the completion of the sale, the chief accounting officer owned 2,319 shares in the company, valued at approximately $1,142,408.97. The trade was a 14.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,066 shares of company stock worth $14,182,963. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 1.3%

Shares of NYSE:TMO traded up $6.24 during trading hours on Tuesday, hitting $480.70. 1,799,780 shares of the company's stock traded hands, compared to its average volume of 1,482,249. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $623.77. The business has a fifty day moving average price of $469.07 and a 200-day moving average price of $450.41. The firm has a market capitalization of $181.52 billion, a P/E ratio of 27.80, a price-to-earnings-growth ratio of 2.53 and a beta of 0.75. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The company's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.37 earnings per share. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's payout ratio is presently 9.95%.

About Thermo Fisher Scientific

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.