Thermo Fisher Scientific Inc. $TMO Shares Sold by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 625,400 shares of the medical research company’s stock after selling 87,500 shares during the period. Thermo Fisher Scientific makes up about 1.4% of Alecta Tjanstepension Omsesidigt’s portfolio, making the stock its 23rd biggest position. Alecta Tjanstepension Omsesidigt owned approximately 0.17% of Thermo Fisher Scientific worth $303,044,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Management Network Inc. grew its holdings in shares of Thermo Fisher Scientific by 3.7% during the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC lifted its position in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after acquiring an additional 19 shares during the period. White Pine Capital LLC increased its holdings in shares of Thermo Fisher Scientific by 3.2% in the third quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock valued at $296,000 after purchasing an additional 19 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the period. Finally, Hopwood Financial Services Inc. increased its holdings in Thermo Fisher Scientific by 9.1% in the 3rd quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after buying an additional 20 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TMO has been the topic of a number of research reports. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Citigroup lifted their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. TD Cowen decreased their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Finally, Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.6%

Shares of TMO opened at $464.94 on Thursday. 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 has a market cap of $172.72 billion, a P/E ratio of 26.21, a PEG ratio of 2.73 and a beta of 0.96. The stock’s 50 day moving average is $549.04 and its two-hundred day moving average is $548.15. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month 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 (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for 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 business’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $6.10 EPS. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued 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 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s payout ratio is currently 10.60%.

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.