Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by LGT Fund Management Co Ltd.

Key Points

• LGT Fund Management Co Ltd. reduced its holdings in Thermo Fisher Scientific Inc. by 29.8% during the first quarter, owning 7,046 shares valued at approximately $3.51 million.
• Thermo Fisher Scientific reported quarterly earnings of $5.36 EPS, surpassing analysts' expectations, with revenue of $10.86 billion, a 2.9% increase from the same quarter last year.
• The company announced a quarterly dividend of $0.43 per share, with an annualized dividend yield of 0.4%, set to be paid on October 15th.

LGT Fund Management Co Ltd. lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 29.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,046 shares of the medical research company's stock after selling 2,988 shares during the quarter. LGT Fund Management Co Ltd.'s holdings in Thermo Fisher Scientific were worth $3,506,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake 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 valued at $255,000 after buying an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its stake in Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after buying an additional 461 shares during the last quarter. Sagespring Wealth Partners LLC bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $1,242,000. Finally, Bragg Financial Advisors Inc boosted its stake in Thermo Fisher Scientific by 1.1% during the fourth quarter. Bragg Financial Advisors Inc now owns 12,960 shares of the medical research company's stock valued at $6,742,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMO. Royal Bank Of Canada lowered their price objective 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. Hsbc Global Res downgraded Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $593.00.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business's 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 sale, the chief executive officer owned 115,174 shares of the company's stock, valued at approximately $52,037,916.68. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock valued at $8,345,792 in the last ninety days. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

TMO traded up $0.83 on Thursday, reaching $485.62. 1,955,228 shares of the stock were exchanged, compared to its average volume of 3,096,282. The company's 50-day moving average price is $433.08 and its 200 day moving average price is $461.44. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week 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 firm has a market capitalization of $183.38 billion, a PE ratio of 28.09, a PEG ratio of 2.59 and a beta of 0.74.

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

Thermo Fisher Scientific Announces Dividend

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

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.