Thermo Fisher Scientific Inc. (NYSE: TMO) wrapped up the shortened Christmas Eve session on Wednesday, December 24, 2025 with a muted move—exactly the kind of tape you’d expect when liquidity thins out ahead of a major U.S. market holiday. The stock finished the session around $579.12, down roughly 0.14% from the prior close, after trading in a narrow range through the day. [1]
But “quiet price action” doesn’t mean “nothing to know.” Today’s notable flow for Thermo Fisher investors came from fresh positioning and valuation reads published on Dec. 24—specifically, an updated look at short interest and a new valuation screen that labels the stock “ultra expensive” on certain metrics. [2]
One critical calendar note first: U.S. exchanges closed early on Dec. 24 and will be closed on Thursday, Dec. 25 (Christmas Day). The next full trading session is Friday, Dec. 26, 2025. [3]
TMO stock price recap: how Thermo Fisher traded into the Christmas Eve close
In the holiday-shortened session, Thermo Fisher shares traded with relatively small intraday swings:
- Open: $578.62
- High: $579.81
- Low: $576.33
- Close: $579.12
- Volume: 397,068 shares (notably light versus prior sessions) [4]
With U.S. markets closing early on Dec. 24, this kind of low volume is typical—and it matters. Thin trading can reduce the “signal” in small price moves, and it can amplify any single order’s impact. In other words: don’t over-interpret a modest drift unless it’s paired with a clear catalyst or unusual flow.
Market schedule check: why “tomorrow’s open” is actually Friday, Dec. 26
If you’re planning your next trade or watchlist: there is no U.S. stock market session on Thursday, Dec. 25.
According to Reuters’ reporting on the year-end trading calendar, U.S. exchanges kept their planned schedule: early close on Dec. 24 and a regular full day of trading on Dec. 26. [5]
That means the practical “pre-market checklist” for most investors is really about preparing for Friday’s open, when normal liquidity returns and portfolio rebalancing can show up more clearly.
Today’s key “new” reads on TMO: short interest eased while valuation screens flashed red
1) Short interest update (published Dec. 24): bearish bets eased
A Benzinga short-seller snapshot published today reported that:
- 5.10 million shares of Thermo Fisher were sold short
- About 1.35% of the float
- Short interest fell 6.9% versus the previous report
- Estimated 3.21 days to cover based on trading volume [6]
In plain English: the short base is small and getting smaller, which can be interpreted as reduced near-term bearish conviction—though it is not, by itself, a predictive signal that the stock must rise.
2) Valuation analysis (published Dec. 24): AAII calls it “Ultra Expensive”
On the valuation side, the American Association of Individual Investors (AAII) published a valuation screen dated Dec. 24 that frames TMO as potentially overvalued based on its internal grading:
- Price-to-sales: 5.03 (AAII notes this is above the industry median cited in the piece)
- P/E: 33.4
- EV/EBITDA: 23.7
- Value Score: 18, which AAII maps to a Value Grade of “F” and labels “Ultra Expensive” [7]
This is a useful reminder heading into year-end: Thermo Fisher is widely viewed as a high-quality compounder in life-science tools and services, but quality doesn’t immunize a stock from valuation gravity—especially when markets shift from growth-friendly to cash-flow-and-multiple discipline.
Wall Street forecasts: where analysts see TMO over the next 12 months
Even with today’s quiet session, the Street’s view of Thermo Fisher remains broadly constructive.
Analyst price targets remain clustered well above the current price
Investing.com’s consensus snapshot shows:
- Coverage from 23 analysts
- Average price target: about $639.39
- Range: roughly $575 (low) to $750 (high) [8]
Benzinga’s compilation is similar, listing:
- Consensus price target: about $638.44
- High: $750
- Low: $535
- And it highlights that several of the most recent ratings came in during December (including names like Wells Fargo, Citigroup, and Goldman Sachs). [9]
Recent December analyst actions: upgrades and initiations
A recent run of December actions compiled by Finviz includes:
- Citigroup upgraded Neutral → Buy (Dec. 11) with a $660 target
- Goldman Sachs initiated Buy (Dec. 9) with a $685 target
- KeyBanc upgraded to Overweight (Dec. 8) with a $750 target
- Morgan Stanley resumed Overweight (Dec. 2) with a $670 target
- HSBC upgraded Hold → Buy (Dec. 1) with a $670 target [10]
Takeaway: analysts aren’t uniformly bullish on valuation, but their targets suggest many still see Thermo Fisher as a core holding with upside tied to execution, cycle normalization in biopharma tools/services, and strategic portfolio moves.
What Thermo Fisher itself guided: the numbers investors keep anchored to
When markets reopen, one of the fastest ways sentiment shifts in mega-cap healthcare tools is via “whisper vs. guide” debates.
A Benzinga guidance table reflecting Thermo Fisher’s last-issued outlook (dated Oct. 22, 2025 in that dataset) lists full-year 2025 guidance around:
- FY 2025 EPS:$22.60 to $22.86
- FY 2025 revenue:$44.10B to $44.50B [11]
Whether you’re bullish or cautious, this is the key lens for near-term positioning: the market will care about (1) where Thermo actually lands within that range and (2) what it says next about demand across pharma/biotech, clinical research services, and academic/government end markets.
Capital returns: buyback authorization and the next dividend date
Two shareholder-return items remain relevant into year-end positioning:
$5 billion share repurchase authorization
Thermo Fisher announced in early November that its board authorized $5 billion of share repurchases, with no expiration date. [12]
For investors, buybacks can matter in two ways:
- They can provide incremental support during drawdowns or choppy tape.
- They can signal management’s confidence in long-term cash generation—though actual repurchase pace is what ultimately matters.
Dividend payable in January
Thermo Fisher’s investor materials list a $0.43 quarterly dividend with:
- Record date:Dec. 15, 2025
- Payable date:Jan. 15, 2026 [13]
If you’re watching for technical pressure around dividend events: the record date has already passed, so the next session is more about broader flows and catalysts than dividend eligibility.
The big catalysts beyond daily tape: M&A, portfolio strategy, and the next earnings window
Clario acquisition: large, strategic, and not closing until mid-2026
Thermo Fisher announced an agreement to acquire Clario Holdings on Oct. 29, 2025 for $8.875 billion in cash at close, with potential additional payments later. In the company’s release, Thermo Fisher said the deal is expected to be completed by the middle of 2026, and it outlined an accretion and synergy framework (including $0.45 of adjusted EPS in the first year after close and a synergy run-rate goal by year five). [14]
This matters for Friday’s open (and beyond) because:
- It’s a large capital deployment that will be debated as either smart “platform expansion” or valuation/stretch leverage risk.
- Regulatory and integration timelines mean headline risk can appear at random points in 2026.
Solventum filtration deal: expected to close by end of 2025
Thermo Fisher also agreed earlier in 2025 to buy Solventum’s purification and filtration business for about $4.1 billion, with reports describing a closing timeline by the end of 2025. [15]
With just days left in the year, traders may stay alert for any closing confirmation, financing updates, or synergy commentary.
“Watch item” for strategic portfolio moves: diagnostics divestiture discussions
Earlier reporting in 2025 indicated Thermo Fisher had explored selling parts of a diagnostics business portfolio as part of a shift away from lower-growth assets (with a possible valuation discussed in the multibillion-dollar range). [16]
There was no new development on that front in today’s flow, but it remains the type of strategic lever that can quickly change the narrative around capital allocation.
What to watch before the next session opens Friday, Dec. 26
Here’s the practical checklist heading into the next open—especially after a low-volume holiday session.
1) Don’t ignore holiday microstructure
Because volume was light on Dec. 24, the first full session back can bring:
- delayed institutional rebalancing
- renewed options positioning
- sharper price discovery on macro headlines
2) Follow the “positioning vs. valuation” tug-of-war
Today’s readings show a clear split:
- Short interest is low and falling (less bearish pressure) [17]
- Valuation screens look demanding on several multiples, at least in AAII’s framework [18]
If the broader market tone turns risk-off, valuation narratives tend to dominate. If risk-on returns, positioning and “quality compounder” arguments tend to win.
3) Track the analyst narrative, not just the average target
Consensus targets around the high $630s are supportive, but what moves stocks is often the marginal change:
- new upgrades/downgrades
- revisions to earnings power assumptions
- commentary on pharma/biotech funding and demand
Investors can point to a broadly positive target range and recent upgrades, but price targets alone don’t eliminate drawdown risk. [19]
4) Watch macro and policy exposures (including China and tariffs)
Earlier reporting in 2025 highlighted potential tariff and China-demand sensitivity as factors investors have weighed for Thermo Fisher, including discussion of China’s share of sales and potential policy impacts. [20]
Even when there’s no company-specific headline, macro policy narratives can influence the whole life-science tools group.
5) Keep the longer-range price context in view
According to analyst consensus pages, Thermo Fisher’s 52-week range spans roughly $385 to $611, with the stock around $579. [21]
That puts the shares roughly 5% below the 52-week high—close enough that any positive catalyst can revive “breakout” chatter, and any disappointment can trigger “failed retest” narratives.
Bottom line for Thermo Fisher stock heading into the next open
Thermo Fisher (TMO) ended Dec. 24, 2025 in a calm, low-volume session near $579, with no major company-specific headline dominating the close. [22]
What investors should carry into the next market open (Friday, Dec. 26) is the contrast in today’s signal set:
- Positioning looks benign (short interest fell, and it’s a small percentage of float). [23]
- Valuation looks demanding in at least one prominent screen that labeled TMO “ultra expensive” on its composite scoring. [24]
- Street targets remain constructive, clustered in the high-$630s with some high-end calls up to $750. [25]
- The strategic backdrop—buybacks, dividend, and major deals like Clario and Solventum’s filtration unit—continues to shape the medium-term thesis. [26]
If you want, I can also write an alternate version in a tighter “newswire” style (same facts, shorter paragraphs) or a longer Google Discover-style feature with more background on Thermo Fisher’s business segments and how the life-science tools cycle is trending.
References
1. stockanalysis.com, 2. www.benzinga.com, 3. www.reuters.com, 4. stockanalysis.com, 5. www.reuters.com, 6. www.benzinga.com, 7. www.aaii.com, 8. www.investing.com, 9. www.benzinga.com, 10. finviz.com, 11. www.benzinga.com, 12. ir.thermofisher.com, 13. ir.thermofisher.com, 14. ir.thermofisher.com, 15. www.wsj.com, 16. www.ft.com, 17. www.benzinga.com, 18. www.aaii.com, 19. www.investing.com, 20. www.reuters.com, 21. www.investing.com, 22. stockanalysis.com, 23. www.benzinga.com, 24. www.aaii.com, 25. www.investing.com, 26. ir.thermofisher.com
