Dakota Wealth Management Sells 1,493 Shares of Thermo Fisher Scientific Inc. $TMO

Dakota Wealth Management trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,557 shares of the medical research company’s stock after selling 1,493 shares during the period. Dakota Wealth Management’s holdings in Thermo Fisher Scientific were worth $1,725,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Soundwatch Capital LLC purchased a new stake in Thermo Fisher Scientific in the second quarter worth $807,713,000. Flossbach Von Storch SE boosted its stake in shares of Thermo Fisher Scientific by 93.0% during the second quarter. Flossbach Von Storch SE now owns 2,727,021 shares of the medical research company’s stock valued at $1,105,698,000 after purchasing an additional 1,314,182 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its holdings in Thermo Fisher Scientific by 282.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after buying an additional 977,127 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.3%

Shares of Thermo Fisher Scientific stock opened at $514.20 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The company has a market cap of $193.19 billion, a P/E ratio of 28.99, a PEG ratio of 2.97 and a beta of 0.93. The firm’s 50 day moving average price is $576.02 and its 200-day moving average price is $547.25. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period last year, the firm earned $6.10 earnings per share. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a share buyback program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction on Monday, December 1st. The shares were sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the transaction, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 98,271 shares of company stock valued at $56,920,935 in the last three months. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have commented on TMO. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research report on Sunday, December 7th. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Finally, Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Profile

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.