Thermo Fisher Scientific Inc. $TMO Stake Lessened by Bank of Nova Scotia

Bank of Nova Scotia lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,348 shares of the medical research company’s stock after selling 10,009 shares during the period. Bank of Nova Scotia’s holdings in Thermo Fisher Scientific were worth $44,306,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TMO. Brighton Jones LLC grew its stake in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Foundations Investment Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 15.4% during the second quarter. Foundations Investment Advisors LLC now owns 1,269 shares of the medical research company’s stock worth $514,000 after purchasing an additional 169 shares during the period. Empower Advisory Group LLC grew its position in Thermo Fisher Scientific by 6.0% during the second quarter. Empower Advisory Group LLC now owns 19,963 shares of the medical research company’s stock valued at $8,094,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Creative Planning lifted its position in Thermo Fisher Scientific by 8.8% in the 2nd quarter. Creative Planning now owns 111,769 shares of the medical research company’s stock worth $45,318,000 after buying an additional 9,086 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on TMO. Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research report on Sunday, December 7th. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Evercore reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, UBS Group reiterated a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One equities research 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 stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $463.99 on Monday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $557.83 and its 200 day simple moving average is $549.01. The firm has a market capitalization of $172.36 billion, a PE ratio of 26.15, a PEG ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99.

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 business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.During the same quarter in the previous year, the firm earned $6.10 EPS. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.