Local Pensions Partnership Investment Ltd Cuts Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• Local Pensions Partnership Investment Ltd trimmed its stake in Thermo Fisher Scientific by 3.1% in Q4, selling 11,400 shares to finish the quarter with 360,005 shares (about 0.10% of the company), valued at $208.6 million and representing roughly 3.7% of the fund's assets (its 13th largest holding).
• Thermo Fisher beat Q4 estimates with $6.57 EPS vs. $6.45 expected and $12.22B revenue (up 7.2% YoY), raised its quarterly dividend to $0.47 ($1.88 annualized, 0.4% yield), and holds a consensus "Moderate Buy" analyst rating with an average price target of $631.25.

Local Pensions Partnership Investment Ltd trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 360,005 shares of the medical research company's stock after selling 11,400 shares during the quarter. Thermo Fisher Scientific accounts for about 3.7% of Local Pensions Partnership Investment Ltd's holdings, making the stock its 13th biggest holding. Local Pensions Partnership Investment Ltd owned approximately 0.10% of Thermo Fisher Scientific worth $208,623,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $28,000. Highline Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd 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 last quarter. Beacon Financial Strategies CORP bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Olistico Wealth LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $31,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $526.04 on Friday. The stock has a market cap of $195.49 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.97. The firm's fifty day simple moving average is $501.60 and its 200 day simple moving average is $550.79. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve 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.

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 for the quarter, beating the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion for the quarter, compared to analysts' expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.10 earnings per share. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

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

Analyst Ratings Changes

TMO has been the topic of several analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. TD Cowen decreased their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $631.25.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on 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 sale, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company's stock.

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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.