Thermo Fisher Scientific Inc. $TMO Shares Sold by Professional Advisory Services Inc.

Professional Advisory Services Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,020 shares of the medical research company’s stock after selling 8,491 shares during the period. Thermo Fisher Scientific accounts for approximately 3.8% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 6th largest holding. Professional Advisory Services Inc.’s holdings in Thermo Fisher Scientific were worth $29,564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth about $2,264,615,000. Wellington Management Group LLP grew its position in Thermo Fisher Scientific by 88.9% in the 3rd quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company’s stock worth $1,309,292,000 after purchasing an additional 1,270,191 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Thermo Fisher Scientific by 54.7% in the third 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 purchasing an additional 1,262,967 shares during the period. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 21.0% during 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 buying an additional 1,028,125 shares during the last quarter. Finally, EdgePoint Investment Group Inc. grew its holdings in Thermo Fisher Scientific by 282.5% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after buying an additional 977,127 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 2.4%

TMO opened at $489.71 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The business has a 50-day moving average of $538.33 and a 200-day moving average of $548.25. 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 capitalization of $181.92 billion, a PE ratio of 27.60, a price-to-earnings-growth ratio of 2.77 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 business had revenue of $12.22 billion for 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 for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.10 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity

In other news, 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 transaction, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’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 directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on TMO shares. The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 target price on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note 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 given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

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.