Thermo Fisher Scientific Inc. (NYSE:TMO) Position Lessened by AXS Investments LLC

Key Points

• AXS Investments LLC reduced its holdings in Thermo Fisher Scientific Inc. by 52.4%, owning 3,622 shares valued at approximately $1.8 million after selling off 3,993 shares in the first quarter.
• Thermo Fisher Scientific reported earnings of $5.36 per share, exceeding expectations, with revenues of $10.86 billion for the quarter, reflecting a year-over-year growth of 2.9%.
• The company announced a quarterly dividend of $0.43 per share, with an annualized yield of 0.4%, set to be paid to shareholders on October 15th.

AXS Investments LLC lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 52.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,622 shares of the medical research company's stock after selling 3,993 shares during the quarter. AXS Investments LLC's holdings in Thermo Fisher Scientific were worth $1,802,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Brighton Jones LLC increased its stake in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after acquiring an additional 988 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after purchasing an additional 461 shares during the last quarter. Invesco Ltd. grew its stake in shares of Thermo Fisher Scientific by 6.3% during the 4th quarter. Invesco Ltd. now owns 1,677,581 shares of the medical research company's stock valued at $872,728,000 after buying an additional 99,688 shares during the period. Finally, FIL Ltd increased its holdings in shares of Thermo Fisher Scientific by 58.5% during the 4th quarter. FIL Ltd now owns 347,139 shares of the medical research company's stock worth $180,592,000 after buying an additional 128,095 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Royal Bank Of Canada dropped their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Barclays lifted their price target on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research report on Thursday, July 24th. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial restated an "outperform" rating and set a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $593.00.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the transaction, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,400 shares of company stock worth $8,345,792 in the last ninety days. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Up 1.5%

TMO traded up $6.60 on Friday, reaching $461.34. The company's stock had a trading volume of 1,689,914 shares, compared to its average volume of 3,227,669. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The business's 50 day moving average is $425.62 and its 200 day moving average is $464.94. The stock has a market cap of $174.21 billion, a price-to-earnings ratio of 26.68, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74.

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

Thermo Fisher Scientific Dividend Announcement

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

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.