Assenagon Asset Management S.A. Has $6.22 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Assenagon Asset Management S.A. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 98.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,740 shares of the medical research company’s stock after selling 604,595 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Thermo Fisher Scientific were worth $6,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TMO. Financial Management Network Inc. grew its stake in Thermo Fisher Scientific by 3.7% in the 3rd 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 boosted its holdings in Thermo Fisher Scientific by 8.8% during the third quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after acquiring an additional 19 shares during the period. White Pine Capital LLC grew its position 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 last quarter. Revolve Wealth Partners LLC increased its stake 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 during the period. Finally, Elevation Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd 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 last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the 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 sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company’s 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 in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of research reports. Stifel Nicolaus increased 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Barclays increased their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, KeyCorp upgraded 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. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $632.50.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $473.83 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $176.02 billion, a P/E ratio of 26.71, a PEG ratio of 2.73 and a beta of 0.96. The company’s 50-day simple moving average is $530.10 and its 200 day simple moving average is $547.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the company earned $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, research analysts forecast 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. 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%.

Thermo Fisher Scientific 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.