Prudential PLC Has $3.07 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Prudential PLC decreased its holdings in Thermo Fisher Scientific Inc. by 9.5%, now owning 6,172 shares valued at $3.07 million as of its latest SEC filing.
• Thermo Fisher reported a strong quarterly performance with $10.86 billion in revenue and $5.36 EPS, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.43 to be paid on October 15th, representing an annualized yield of 0.4%.

Prudential PLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,172 shares of the medical research company's stock after selling 649 shares during the quarter. Prudential PLC's holdings in Thermo Fisher Scientific were worth $3,071,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TMO. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $35,000. Navigoe LLC bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in Thermo Fisher Scientific during the first quarter worth about $37,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMO. HSBC reiterated a "hold" rating and set a $510.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. UBS Group lifted their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Barclays lifted their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Evercore ISI reduced their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Finally, Royal Bank Of Canada reduced their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $4.92 during trading on Friday, hitting $489.96. The company had a trading volume of 2,462,453 shares, compared to its average volume of 3,069,315. 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 has a market capitalization of $185.01 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74. The stock's 50-day moving average price is $434.83 and its 200 day moving average price is $460.05. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results 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. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the previous year, the company posted $5.37 earnings per share. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 presently 9.95%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the completion of the sale, the chief executive officer directly owned 115,174 shares in the company, valued at $52,340,824.30. This represents a 6.49% decrease in their ownership of the stock. The transaction 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 company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,400 shares of company stock valued at $8,345,792 over the last 90 days. Corporate insiders own 0.33% of the company's stock.

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.