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Michael A. Boxer, Senior Vice President and General Counsel at Thermo Fisher Scientific Inc. (NYSE:TMO), a $194 billion life sciences leader with a strong GOOD financial health rating according to InvestingPro, recently sold 3,775 shares of the company’s common stock. The shares were sold at an average price of $532.525, totaling approximately $2.01 million. Following this transaction, Boxer retains ownership of 10,815 shares in the company. The stock, currently trading near its 52-week low with historically low volatility (5-year beta of 0.79), appears fairly valued based on InvestingPro’s Fair Value analysis. Discover 10+ additional exclusive ProTips and comprehensive valuation metrics with InvestingPro.
In other recent news, Solventum has agreed to sell its Purification & Filtration business to Thermo Fisher Scientific for $4.1 billion. This transaction is expected to be neutral to Solventum’s earnings per share in 2025 and is anticipated to generate approximately $3.4 billion in net proceeds, which Solventum plans to use primarily for debt reduction. Thermo Fisher’s acquisition aligns with its strategy to enhance its bioproduction capabilities, adding Solventum’s innovative filtration technologies to its portfolio. The deal is projected to close by the end of 2025, pending regulatory approvals.
Activist investor Trian Fund Management, which holds a 5% stake in Solventum, has been advocating for the company to separate additional businesses, such as its dental products and software divisions, to focus on its medical and surgical unit. Trian has praised the recent sale as a positive step, aligning with its view that Solventum should cut costs and streamline operations. Additionally, Thermo Fisher has announced a 10% increase in its quarterly dividend to $0.43 per share, reflecting its confidence in financial performance.
Thermo Fisher also expanded its board of directors by appointing Karen S. Lynch, a seasoned health care executive, bringing the board’s total to twelve members. Lynch’s appointment is expected to contribute valuable insights and expertise, particularly in the health sector. These developments come as Solventum prepares to report its fourth-quarter results and host an investor day next month.
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