Cresset Asset Management LLC Purchases 7,364 Shares of Thermo Fisher Scientific Inc. $TMO

by · The Cerbat Gem

Cresset Asset Management LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 25.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,591 shares of the medical research company’s stock after buying an additional 7,364 shares during the quarter. Cresset Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $14,852,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of TMO. CBIZ Investment Advisory Services LLC increased its position in Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock worth $28,000 after purchasing an additional 33 shares during the last quarter. Anderson Financial Strategies LLC bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth about $30,000. Keystone Global Partners LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $31,000. DiNuzzo Private Wealth Inc. grew its position in Thermo Fisher Scientific by 406.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock worth $31,000 after acquiring an additional 61 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its stake in Thermo Fisher Scientific by 450.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 77 shares of the medical research company’s stock worth $38,000 after acquiring an additional 63 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $566.10, for a total value of $4,104,225.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares of the company’s stock, valued at $64,400,668.20. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares in the company, valued at $8,360,731.98. This trade represents a 32.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 149,271 shares of company stock valued at $86,507,282 over the last three months. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TMO shares. Hsbc Global Res raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Royal Bank Of Canada set a $561.00 price target on Thermo Fisher Scientific and gave the stock an “outperform” rating in a research report on Tuesday, September 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Argus raised their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Citigroup upped their price target on shares of Thermo Fisher Scientific from $500.00 to $580.00 and gave the company a “neutral” rating in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $602.35.

View Our Latest Analysis on Thermo Fisher Scientific

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $572.49 on Friday. The stock has a market cap of $215.09 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 4.20 and a beta of 0.90. The firm has a 50-day moving average of $559.70 and a two-hundred day moving average of $485.00. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, beating the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The firm had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the previous year, the firm posted $5.28 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2025 guidance at 22.600-22.860 EPS. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Thermo Fisher Scientific Profile

(Free Report)

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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