Thermo Fisher Scientific Inc. $TMO Shares Sold by Canopy Partners LLC

Key Points

• Canopy Partners LLC reduced its stake in Thermo Fisher Scientific by 48.9%, owning 1,115 shares with a total value of $452,000 at the end of the 2nd quarter.
• Analysts have given Thermo Fisher Scientific a consensus rating of "Moderate Buy" with a target price of $591.16, reflecting optimism about the company's growth potential.
• CEO Marc N. Casper recently sold 400 shares at an average price of $500.50, reducing his ownership by 0.35% to 113,762 shares valued over $56 million.

Canopy Partners LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 48.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,115 shares of the medical research company's stock after selling 1,068 shares during the quarter. Canopy Partners LLC's holdings in Thermo Fisher Scientific were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Shell Asset Management Co. grew its position in shares of Thermo Fisher Scientific by 6.6% during the second quarter. Shell Asset Management Co. now owns 22,472 shares of the medical research company's stock worth $9,111,000 after buying an additional 1,390 shares in the last quarter. Slow Capital Inc. grew its holdings in Thermo Fisher Scientific by 1.5% during the 2nd quarter. Slow Capital Inc. now owns 7,442 shares of the medical research company's stock worth $3,019,000 after acquiring an additional 112 shares in the last quarter. KLP Kapitalforvaltning AS grew its stake in shares of Thermo Fisher Scientific by 4.1% during the second quarter. KLP Kapitalforvaltning AS now owns 142,683 shares of the medical research company's stock worth $57,904,000 after purchasing an additional 5,600 shares in the last quarter. RMG Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth $131,000. Finally, Hardy Reed LLC grew its stake in shares of Thermo Fisher Scientific by 96.9% during the second quarter. Hardy Reed LLC now owns 5,060 shares of the medical research company's stock worth $2,052,000 after purchasing an additional 2,490 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the subject of several analyst reports. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a research report on Friday, July 11th. HSBC restated a "hold" rating and issued a $510.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Barclays upped their target price on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Weiss Ratings restated a "hold (c-)" rating on shares of Thermo Fisher Scientific in a research note on Saturday, September 27th. Finally, William Blair began coverage on shares of Thermo Fisher Scientific in a research note on Monday, August 18th. They issued an "outperform" rating for the company. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $591.16.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 400 shares of the firm's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $500.50, for a total value of $200,200.00. Following the completion of the sale, the chief executive officer owned 113,762 shares in the company, valued at $56,937,881. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Joseph R. Holmes sold 385 shares of the firm's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the completion of the sale, the chief accounting officer owned 2,319 shares of the company's stock, valued at $1,142,408.97. This trade 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 over the last 90 days. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $539.54 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $610.97. The firm has a 50-day simple moving average of $484.90 and a 200-day simple moving average of $447.60. 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 company has a market capitalization of $203.73 billion, a price-to-earnings ratio of 31.21, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%.The company had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period last year, the firm earned $5.37 EPS. The firm's revenue for the quarter was up 2.9% on a year-over-year basis. Thermo Fisher Scientific has set its Q3 2025 guidance at 5.460-5.510 EPS. FY 2025 guidance at 22.220-22.840 EPS. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Thermo Fisher Scientific Company 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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.