Capital Research Global Investors Reduces Stock Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Capital Research Global Investors reduced its Thermo Fisher stake by 41.8% in Q3, selling 2,270,997 shares and ending the quarter with 3,162,662 shares worth about $1.534 billion (≈0.84% of the company).
• Analysts hold a consensus of "Moderate Buy" on TMO with an average price target of $633.68 (18 Buy ratings, 1 Strong Buy, 2 Hold).
• Insider activity included CEO Marc N. Casper selling 5,000 shares for $2.562 million and an EVP selling 400 shares, and the company raised its quarterly dividend to $0.47 (annual $1.88, ~0.4% yield).

Capital Research Global Investors lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 41.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,162,662 shares of the medical research company's stock after selling 2,270,997 shares during the quarter. Capital Research Global Investors owned about 0.84% of Thermo Fisher Scientific worth $1,533,711,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Highline Wealth Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock worth $29,000 after acquiring an additional 33 shares during the period. Capital A Wealth Management LLC lifted its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock valued at $30,000 after acquiring an additional 66 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $31,000. Howard Hughes Medical Institute acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Finally, Elevation Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 35.1% during 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 period. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

TMO has been the topic of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. HSBC upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 1st. 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. TD Cowen decreased their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating for the company in a research note on Friday, January 30th. Finally, UBS Group restated a "neutral" rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $633.68.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the company's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. This represents a 1.89% 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 Stock Performance

Shares of TMO opened at $510.28 on Tuesday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The company's fifty day moving average is $565.80 and its 200-day moving average is $549.24. The firm has a market cap of $189.56 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.95 billion. During the same period in the prior year, the company earned $6.10 earnings per share. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.70%.

Thermo Fisher Scientific Company 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.

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