Ameriprise Financial Inc. Reduces Holdings in Thermo Fisher Scientific Inc. $TMO

Ameriprise Financial Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,572,998 shares of the medical research company’s stock after selling 115,887 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.42% of Thermo Fisher Scientific worth $762,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Lombard Odier Asset Management Switzerland SA raised its stake in shares of Thermo Fisher Scientific by 8.4% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after acquiring an additional 1,128 shares during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $41,393,000. Weaver Capital Management LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $506,000. VELA Investment Management LLC raised its position in Thermo Fisher Scientific by 65.5% during the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after purchasing an additional 3,683 shares during the last quarter. Finally, NEOS Investment Management LLC grew its position in shares of Thermo Fisher Scientific by 28.6% in the 3rd quarter. NEOS Investment Management LLC now owns 51,364 shares of the medical research company’s stock worth $24,913,000 after buying an additional 11,415 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer owned 123,925 shares of the company’s stock, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Down 2.5%

NYSE TMO opened at $463.99 on Friday. The stock’s 50 day moving average is $557.83 and its 200 day moving average is $548.59. 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 firm has a market capitalization of $172.36 billion, a PE ratio of 26.15, a P/E/G ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99.

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

Thermo Fisher Scientific Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TMO shares. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a report on Friday, January 30th. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price target on the stock. UBS Group restated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.