Banque Pictet & Cie SA Trims Stock Position in Thermo Fisher Scientific Inc. $TMO

Banque Pictet & Cie SA lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,532 shares of the medical research company’s stock after selling 1,732 shares during the period. Banque Pictet & Cie SA’s holdings in Thermo Fisher Scientific were worth $22,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Thermo Fisher Scientific by 88.9% during the third quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company’s stock worth $1,309,292,000 after purchasing an additional 1,270,191 shares in the last quarter. Bank of New York Mellon Corp boosted its stake 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 valued at $1,732,422,000 after purchasing an additional 1,262,967 shares during the period. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 21.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock worth $2,874,069,000 after buying an additional 1,028,125 shares during the period. EdgePoint Investment Group Inc. increased its position in shares of Thermo Fisher Scientific by 282.5% during the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after acquiring an additional 977,127 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Thermo Fisher Scientific by 58.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,293,264 shares of the medical research company’s stock valued at $929,828,000 after purchasing an additional 843,267 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The stock was 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 owned 123,925 shares of the company’s stock, valued at $63,499,170. The trade was a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’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 completion of the sale, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TMO. TD Cowen decreased their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Evercore restated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Finally, The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $632.50.

Thermo Fisher Scientific Stock Up 0.8%

TMO stock opened at $495.51 on Thursday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The company has a fifty day moving average of $521.97 and a 200-day moving average of $547.93. The stock has a market capitalization of $184.07 billion, a PE ratio of 27.93, a price-to-earnings-growth ratio of 2.84 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for 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%.The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $6.10 EPS. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company 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. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.60%.

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.