Bamco Inc. NY Lowers Stake in Thermo Fisher Scientific Inc. $TMO

Bamco Inc. NY reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,712 shares of the medical research company’s stock after selling 6,054 shares during the period. Bamco Inc. NY’s holdings in Thermo Fisher Scientific were worth $11,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $2,264,615,000. Soundwatch Capital LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $807,713,000. Wellington Management Group LLP lifted its holdings in shares of Thermo Fisher Scientific by 88.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company’s stock valued at $1,309,292,000 after acquiring an additional 1,270,191 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the period. Finally, Franklin Resources Inc. raised its position in Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after purchasing an additional 1,028,125 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMO. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $463.99 on Monday. The business has a 50 day moving average price of $557.83 and a two-hundred day moving average price of $549.01. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm has a market cap of $172.36 billion, a PE ratio of 26.15, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results 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 company 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%.The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.10 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. 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. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The shares were 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 trade represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 123,925 shares of the company’s stock, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

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.