WealthPLAN Partners Reduces Stake in Thermo Fisher Scientific

WealthPLAN Partners LLC has lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE: TMO) by 3.7% during the second quarter of 2023, according to a filing with the Securities and Exchange Commission. The institutional investor now holds 3,993 shares of the medical research company, following a sale of 153 shares during the quarter. As of the end of June, WealthPLAN’s holdings in Thermo Fisher were valued at approximately $1.619 million.

Several other institutional investors have also adjusted their positions in Thermo Fisher. Notably, Mondrian Investment Partners LTD increased its stake by 146.1% in the first quarter, acquiring an additional 127,357 shares to reach a total of 214,506 shares, valued at $106.738 million. Similarly, Caledonia Investments PLC expanded its position by 11.5% in the second quarter, now owning 111,767 shares worth $45.299 million after purchasing an additional 11,500 shares.

In a remarkable move, Foresight Group Ltd Liability Partnership increased its position by an astonishing 3,242.7% in the first quarter, now holding 58,497 shares valued at $29.113 million. Advisors Capital Management LLC and New England Research & Management Inc. also made significant purchases, adding to their holdings during the recent quarters.

Overall, institutional investors collectively own 89.23% of Thermo Fisher’s stock, indicating strong confidence in the company’s future performance.

Insider Transactions and Stock Performance

Recent insider trading activity at Thermo Fisher has drawn attention. On July 25, 2023, Gianluca Pettiti, Executive Vice President, sold 400 shares at an average price of $479.98, totaling $191,992. Following this transaction, Pettiti retained 22,367 shares valued at around $10.736 million, representing a 1.76% decline in his ownership.

Additionally, Marc N. Casper, the Chief Executive Officer, sold 10,000 shares on August 22, 2023, at an average price of $500.96, bringing in approximately $5.010 million. After this sale, Casper owns 115,174 shares, valued at about $57.698 million, indicating a 7.99% decrease in his stake. Over the last three months, insiders have sold a total of 30,066 shares, worth around $14.183 million. Currently, 0.33% of the stock is owned by insiders.

Market Performance and Financial Outlook

On the market, Thermo Fisher stock opened at $527.34 on Thursday, reflecting a 0.3% increase. The company’s 50-day moving average stands at $492.55, while the 200-day moving average is at $448.75. Thermo Fisher’s market capitalization is approximately $199.13 billion, with a price-to-earnings (PE) ratio of 30.50 and a beta of 0.77.

In its last quarterly earnings report on July 23, 2023, Thermo Fisher announced earnings of $5.36 per share, surpassing analysts’ expectations of $5.22. The company reported revenue of $10.86 billion, exceeding forecasts of $10.68 billion, and reflecting a 2.9% year-over-year increase. The company has provided guidance for the third quarter of 2025, projecting earnings between $5.460 and $5.510 per share, with full-year guidance set at $22.220 to $22.840 per share.

Research analysts predict that Thermo Fisher Scientific Inc. will report an average of $23.28 earnings per share for the current fiscal year. As the company continues to innovate and expand its offerings in the life sciences sector, investor interest remains strong, reflecting confidence in its ongoing growth and profitability.