Carnegie Investment Counsel Has $27.51 Million Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Carnegie Investment Counsel trimmed its stake in Thermo Fisher by 4.4% in Q4, selling 2,178 shares and leaving 47,467 shares valued at about $27.51 million.
• Thermo Fisher beat Q4 estimates, reporting EPS of $6.57 vs. $6.45 and revenue of $12.22 billion (up 7.2% year-over-year), and analysts remain largely bullish with a consensus target near $632.50.
• The company raised its quarterly dividend to $0.47 ($1.88 annualized, ~0.4% yield), while insiders (including the CEO and an EVP) sold modest stakes and institutional ownership is roughly 89%.

Carnegie Investment Counsel lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,467 shares of the medical research company's stock after selling 2,178 shares during the period. Carnegie Investment Counsel's holdings in Thermo Fisher Scientific were worth $27,505,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TMO. Wellington Management Group LLP lifted its position in shares of Thermo Fisher Scientific by 88.9% during the 3rd quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company's stock valued at $1,309,292,000 after acquiring an additional 1,270,191 shares during the period. Bank of New York Mellon Corp increased its stake in Thermo Fisher Scientific by 54.7% during the 3rd 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 in the last quarter. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 21.0% during the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company's stock valued at $2,874,069,000 after purchasing an additional 1,028,125 shares in the last quarter. EdgePoint Investment Group Inc. increased its stake in Thermo Fisher Scientific by 282.5% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company's stock valued at $536,450,000 after purchasing an additional 977,127 shares in the last quarter. Finally, Corient Private Wealth LLC increased its stake in Thermo Fisher Scientific by 89.1% during the 2nd quarter. Corient Private Wealth LLC now owns 1,752,607 shares of the medical research company's stock valued at $720,576,000 after purchasing an additional 825,649 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $496.34 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. 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 firm has a market cap of $184.45 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 2.68 and a beta of 0.97. The company has a fifty day moving average price of $505.33 and a 200-day moving average price of $548.30.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter in the prior year, the business posted $6.10 EPS. The business's revenue was up 7.2% compared to the same quarter last year. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.60%.

Insider Activity

In related news, 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 123,925 shares of the company's stock, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a research note on Friday, January 9th. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. DZ Bank initiated coverage on shares of Thermo Fisher Scientific in a research note on Friday, March 27th. They set a "buy" rating and a $610.00 price target for the company. Finally, TD Cowen reduced their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $632.50.

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.

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