Thermo Fisher Scientific Inc. $TMO Shares Sold by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,441 shares of the medical research company’s stock after selling 2,201 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Thermo Fisher Scientific were worth $2,888,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on TMO shares. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. The Goldman Sachs Group initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price for the company. UBS Group reaffirmed a “neutral” rating and issued a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $501.72 on Monday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The company has a market cap of $186.38 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm’s 50 day simple moving average is $567.28 and its 200-day simple moving average is $549.05.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 analyst estimates of $11.95 billion. During the same quarter last year, the business posted $6.10 EPS. The company’s revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.47 per share. This is a positive change 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%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.70%.

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.