American Money Management LLC Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• American Money Management LLC reduced its holdings in Thermo Fisher Scientific by 35.8%, ending the first quarter with 3,457 shares valued at approximately $1.72 million.
• Thermo Fisher recently reported a quarterly earnings per share of $5.36, exceeding expectations, with a revenue increase of 2.9% year-over-year to $10.86 billion.
• The company declared a quarterly dividend of $0.43 per share, with a payout ratio of approximately 9.95%, scheduled for payment on October 15th.

American Money Management LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 35.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,457 shares of the medical research company's stock after selling 1,929 shares during the period. American Money Management LLC's holdings in Thermo Fisher Scientific were worth $1,720,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after buying an additional 988 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in 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 buying an additional 20 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in Thermo Fisher Scientific by 0.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock worth $79,677,000 after buying an additional 461 shares in the last quarter. Cohen & Steers Inc. raised its stake in Thermo Fisher Scientific by 5.2% in the fourth quarter. Cohen & Steers Inc. now owns 592 shares of the medical research company's stock worth $308,000 after buying an additional 29 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in Thermo Fisher Scientific in the fourth quarter worth approximately $1,055,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $485.72 on Thursday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The company has a market cap of $183.41 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.55 and a beta of 0.74. The stock's fifty day moving average price is $431.32 and its 200 day moving average price is $462.11.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the company earned $5.37 earnings per share. The firm's revenue was up 2.9% on a year-over-year basis. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 8,000 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the sale, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,340,824.30. This represents a 6.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TMO shares. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research report on Friday, July 11th. Evercore ISI reduced their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Robert W. Baird upped their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $593.00.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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