Oak Harvest Investment Services Decreases Position in Thermo Fisher Scientific Inc. $TMO

Key Points

• Oak Harvest Investment Services sharply reduced its stake in Thermo Fisher by 90.2% in Q4, selling 6,455 shares and leaving it with 703 shares valued at about $407,000.
• Company insiders have also been selling — CEO Marc N. Casper sold 5,000 shares for roughly $2.56M (avg $512.40) and EVP Gianluca Pettiti sold 400 shares — insiders now own about 0.33% of the stock.
• Analysts remain largely positive: the consensus rating is a Moderate Buy with an average price target of $631.25, even as individual targets range roughly from $583 to $700.

Oak Harvest Investment Services decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 703 shares of the medical research company's stock after selling 6,455 shares during the quarter. Oak Harvest Investment Services' holdings in Thermo Fisher Scientific were worth $407,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its stake in Thermo Fisher Scientific by 0.5% during the fourth quarter. Howard Capital Management Inc. now owns 3,091 shares of the medical research company's stock worth $1,791,000 after purchasing an additional 16 shares during the last quarter. Petros Family Wealth LLC lifted its stake in Thermo Fisher Scientific by 3.9% in the fourth quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company's stock valued at $264,000 after buying an additional 17 shares during the last quarter. Financial Management Network Inc. lifted its stake in Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company's stock valued at $248,000 after buying an additional 18 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in Thermo Fisher Scientific by 1.5% in the fourth quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company's stock valued at $728,000 after buying an additional 18 shares during the last quarter. Finally, Red Door Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 0.8% in the fourth quarter. Red Door Wealth Management LLC now owns 2,156 shares of the medical research company's stock valued at $1,250,000 after buying an additional 18 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, the chief executive officer owned 123,925 shares of the company's stock, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Barclays reduced their price objective on Thermo Fisher Scientific from $650.00 to $625.00 and set an "overweight" rating for the company in a research note on Tuesday, April 14th. TD Cowen dropped their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a report on Friday, January 30th. Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a "buy" rating in a report on Friday, January 9th. Finally, Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $631.25.

Thermo Fisher Scientific Stock Up 1.9%

Thermo Fisher Scientific stock opened at $526.04 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm has a market capitalization of $195.49 billion, a price-to-earnings ratio of 29.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.97. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The stock's fifty day moving average is $501.60 and its two-hundred day moving average is $550.79.

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 for the quarter, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific's revenue was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $6.10 earnings per share. 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 disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Friday, March 13th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, March 13th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is 10.60%.

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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