Thermo Fisher Scientific Inc. $TMO Shares Sold by DAVENPORT & Co LLC

DAVENPORT & Co LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 87.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,070 shares of the medical research company’s stock after selling 34,817 shares during the period. DAVENPORT & Co LLC’s holdings in Thermo Fisher Scientific were worth $2,938,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TMO. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 7.4% during the third quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock worth $4,988,132,000 after buying an additional 706,572 shares during the period. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 21.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after buying an additional 1,028,125 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth about $2,264,615,000. Bank of New York Mellon Corp grew its position in Thermo Fisher Scientific by 54.7% in the 3rd 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 acquiring an additional 1,262,967 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Thermo Fisher Scientific by 25.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock worth $1,424,503,000 after purchasing an additional 594,218 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In related news, 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 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. The trade was a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of the 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 completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This 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 Stock Down 3.1%

Shares of Thermo Fisher Scientific stock opened at $473.83 on Friday. 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 Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market capitalization of $176.02 billion, a P/E ratio of 26.71, a P/E/G ratio of 2.82 and a beta of 0.96. The company has a 50 day moving average of $530.10 and a 200 day moving average of $547.35.

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 analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.10 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is 10.60%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on TMO shares. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. UBS Group reaffirmed a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wells Fargo & Company set a $683.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, TD Cowen reduced their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $632.50.

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.