Thermo Fisher Scientific Inc. $TMO Stake Reduced by Andra AP fonden

Andra AP fonden cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 75.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,798 shares of the medical research company’s stock after selling 20,600 shares during the period. Andra AP fonden’s holdings in Thermo Fisher Scientific were worth $3,297,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $31,000. Capital A Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares in the last quarter. Elevation Wealth Partners LLC increased its position in Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after acquiring an additional 20 shares during the period. Finally, Howard Hughes Medical Institute bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $33,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.1%

TMO stock opened at $520.80 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The firm has a market capitalization of $195.67 billion, a P/E ratio of 29.36, a P/E/G ratio of 3.01 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company’s 50 day simple moving average is $574.24 and its 200-day simple moving average is $547.94.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company posted $6.10 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares in the company, valued at $8,586,868.56. This represents a 32.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the sale, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. This represents a 32.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 98,271 shares of company stock valued at $56,920,935 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TMO has been the topic of a number of research analyst reports. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a research note on Sunday, December 7th. TD Cowen lowered their price objective 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. Finally, UBS Group reissued a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Company 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.