Chevy Chase Trust Holdings LLC Raises Position in Thermo Fisher Scientific Inc. $TMO

Chevy Chase Trust Holdings LLC boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 289,769 shares of the medical research company’s stock after buying an additional 17,687 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Thermo Fisher Scientific were worth $140,544,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in TMO. Highline Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Capital A Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the last quarter. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $31,000. Howard Hughes Medical Institute purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after buying an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

TMO opened at $463.99 on Friday. 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 stock has a market capitalization 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 stock’s 50 day moving average price is $557.83 and its 200-day moving average price is $548.59. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

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. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates 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 revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $6.10 earnings per share. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current 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 paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research analyst reports. Evercore reaffirmed an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Citigroup upped their price objective on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. The Goldman Sachs Group initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective on the stock. Finally, HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity

In related 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 value of $2,562,000.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm’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 of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

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.