Thermo Fisher Scientific Inc. $TMO Shares Sold by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 625,400 shares of the medical research company’s stock after selling 87,500 shares during the period. Thermo Fisher Scientific accounts for approximately 1.4% of Alecta Tjanstepension Omsesidigt’s investment portfolio, making the stock its 23rd largest position. Alecta Tjanstepension Omsesidigt’s holdings in Thermo Fisher Scientific were worth $303,044,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Swiss Life Asset Management Ltd increased its position in Thermo Fisher Scientific by 4.7% during the third quarter. Swiss Life Asset Management Ltd now owns 45,080 shares of the medical research company’s stock worth $21,865,000 after purchasing an additional 2,007 shares during the last quarter. Groupama Asset Managment grew its stake in shares of Thermo Fisher Scientific by 58.9% in the 3rd quarter. Groupama Asset Managment now owns 245,016 shares of the medical research company’s stock valued at $118,838,000 after buying an additional 90,854 shares during the period. Investment Research Partners LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $311,000. Cambria Investment Management L.P. purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $723,000. Finally, KERR FINANCIAL PLANNING Corp acquired a new position in Thermo Fisher Scientific in the third quarter valued at approximately $38,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $464.94 on Thursday. 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 $172.72 billion, a price-to-earnings ratio of 26.21, a price-to-earnings-growth ratio of 2.73 and a beta of 0.96. The stock’s 50-day moving average is $549.04 and its two-hundred day moving average is $548.15. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter last year, the business posted $6.10 EPS. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. 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 is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.60%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on TMO shares. Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 target price on the stock. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the company’s 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 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. Corporate insiders own 0.33% of the company’s stock.

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.