Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden has reduced its stake in Thermo Fisher Scientific by 2.7%, selling 2,500 shares, while maintaining holdings valued at approximately $44.7 million.
• Thermo Fisher Scientific recently reported $10.86 billion in revenue for the quarter, surpassing estimates, along with earnings per share of $5.36, up 2.9% from the previous year.
• The company announced a quarterly dividend of $0.43 per share, with a payout ratio of 9.95%, indicating a stable return to shareholders.

Forsta AP Fonden trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 89,870 shares of the medical research company's stock after selling 2,500 shares during the quarter. Forsta AP Fonden's holdings in Thermo Fisher Scientific were worth $44,719,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of TMO. Brighton Jones LLC boosted its holdings in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG lifted 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 worth $79,677,000 after acquiring an additional 461 shares during the last quarter. Martingale Asset Management L P lifted its holdings in shares of Thermo Fisher Scientific by 6.3% in the 4th quarter. Martingale Asset Management L P now owns 8,910 shares of the medical research company's stock worth $4,635,000 after acquiring an additional 528 shares during the last quarter. Finally, Texas Yale Capital Corp. lifted its holdings in shares of Thermo Fisher Scientific by 7.7% in the 4th quarter. Texas Yale Capital Corp. now owns 530 shares of the medical research company's stock worth $276,000 after acquiring an additional 38 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TMO. Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Argus decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank Of Canada decreased their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a research note on Friday, July 11th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Stock Up 1.5%

Shares of NYSE:TMO traded up $6.60 during trading hours on Friday, reaching $461.34. The 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 quick ratio of 1.50 and a current ratio of 1.93. The firm's 50 day moving average is $426.80 and its 200-day moving average is $463.40. The stock has a market capitalization of $174.21 billion, a price-to-earnings ratio of 26.68, a P/E/G ratio of 2.46 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. The firm had revenue of $10.86 billion for 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 company's revenue was up 2.9% on a year-over-year basis. During the same period last year, the firm posted $5.37 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the completion of the sale, the chief executive officer owned 115,174 shares in the company, valued at $52,037,916.68. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on 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 owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock worth $8,345,792 over the last ninety days. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Company Profile

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.