Westpac Banking Corp Purchases New Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Westpac Banking Corp acquired 2,957 Thermo Fisher Scientific shares during the second quarter, worth approximately $1.48 million. Institutional investors collectively own 89.23% of the company.
• Thermo Fisher reported quarterly EPS of $6.03, beating estimates of $5.71, while revenue rose 10.5% year over year to $11.99 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $619.41.
• The company declared a quarterly dividend of $0.47 per share, equivalent to an annualized $1.88 payout and a 0.3% yield. Several insiders have sold shares recently, including an executive vice president’s $15.3 million sale under a pre-arranged trading plan.

Westpac Banking Corp acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,957 shares of the medical research company's stock, valued at approximately $1,483,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. J. Stern & Co. LLP raised its holdings in Thermo Fisher Scientific by 58,006.4% during the 4th quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company's stock worth $18,258,082,000 after purchasing an additional 31,455,105 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $15,501,867,000. Norges Bank acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $3,072,744,000. Bank of New York Mellon Corp bought a new position in Thermo Fisher Scientific in the second quarter valued at approximately $1,974,561,000. Finally, Auto Owners Insurance Co grew its holdings in Thermo Fisher Scientific by 57,845.0% during the 4th quarter. Auto Owners Insurance Co now owns 2,427,896 shares of the medical research company's stock worth $1,406,844,000 after acquiring an additional 2,423,706 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TMO. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an "overweight" rating in a research note on Friday, July 24th. Weiss Ratings upgraded Thermo Fisher Scientific from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, July 14th. Evercore set a $570.00 price target on Thermo Fisher Scientific in a research note on Monday, July 6th. Royal Bank Of Canada increased their price target on shares of Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a "sector perform" rating in a research report on Friday, July 24th. Finally, HSBC cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating and decreased their price objective for the company from $670.00 to $540.00 in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $619.41.

Thermo Fisher Scientific Trading Up 0.2%

NYSE TMO opened at $629.02 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.55 and a debt-to-equity ratio of 0.74. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $643.99. The business has a 50 day moving average price of $542.53 and a 200-day moving average price of $509.70. The company has a market cap of $232.58 billion, a price-to-earnings ratio of 33.84, a P/E/G ratio of 2.56 and a beta of 0.85.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The medical research company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.71 by $0.32. Thermo Fisher Scientific had a net margin of 15.04% and a return on equity of 17.09%. The business had revenue of $11.99 billion during the quarter, compared to the consensus estimate of $11.71 billion. During the same quarter last year, the firm posted $4.28 EPS. Thermo Fisher Scientific's revenue was up 10.5% compared to the same quarter last year. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 25.12 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.11%.

Insiders Place Their Bets

In other news, EVP Michael D. Shafer sold 25,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total value of $15,300,000.00. Following the transaction, the executive vice president owned 20,994 shares in the company, valued at $12,596,400. This trade represents a 54.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $565.00, for a total value of $226,000.00. Following the sale, the chief operating officer owned 24,651 shares of the company's stock, valued at $13,927,815. This trade represents a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 63,493 shares of company stock worth $37,657,681 in the last 90 days. Company 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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