Lord Abbett & CO. LLC Sells 3,517 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Lord Abbett & CO. LLC reduced its stake in Thermo Fisher Scientific Inc. by 4.7%, selling 3,517 shares, which left them with 71,264 shares valued at approximately $35.46 million.
• A number of large investors have recently adjusted their positions in Thermo Fisher, with Brighton Jones LLC increasing its stake by 28.9% during the last quarter.
• Thermo Fisher declared a quarterly dividend of $0.43 per share, set to be paid on October 15th, reflecting a 0.4% dividend yield.

Lord Abbett & CO. LLC decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,264 shares of the medical research company's stock after selling 3,517 shares during the quarter. Lord Abbett & CO. LLC's holdings in Thermo Fisher Scientific were worth $35,461,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in TMO. Sit Investment Associates Inc. grew its position in Thermo Fisher Scientific by 1.1% in the first quarter. Sit Investment Associates Inc. now owns 24,823 shares of the medical research company's stock valued at $12,352,000 after acquiring an additional 276 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. acquired a new stake in shares of Thermo Fisher Scientific during the first quarter valued at about $149,000. E Fund Management Co. Ltd. lifted its stake in shares of Thermo Fisher Scientific by 13.8% in the first quarter. E Fund Management Co. Ltd. now owns 5,590 shares of the medical research company's stock worth $2,782,000 after acquiring an additional 680 shares during the period. Financial Network Wealth Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 18.8% in the first quarter. Financial Network Wealth Advisors LLC now owns 373 shares of the medical research company's stock worth $186,000 after acquiring an additional 59 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Thermo Fisher Scientific by 7.0% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,464 shares of the medical research company's stock worth $5,704,000 after acquiring an additional 748 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 8,000 shares of the firm's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the completion of the transaction, the chief executive officer owned 115,174 shares in the company, valued at $52,340,824.30. The trade was a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TMO shares. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Hsbc Global Res cut Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. UBS Group increased their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Royal Bank Of Canada decreased their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Trading Up 1.0%

Shares of NYSE TMO traded up $4.92 during trading on Friday, hitting $489.96. 2,462,453 shares of the company traded hands, compared to its average volume of 3,059,810. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a 50-day moving average price of $434.83 and a 200-day moving average price of $459.02. The firm has a market capitalization of $185.01 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.61 and a beta of 0.74. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.

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

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific 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.