Resona Asset Management Co. Ltd. Has $59.15 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Resona Asset Management has increased its holdings in Thermo Fisher Scientific by 8.4%, now owning $59.15 million worth of shares after acquiring an additional 9,187 shares.
• Analysts are optimistic about Thermo Fisher Scientific, with a consensus average target price of $593.00 and 15 buy ratings indicating confidence in the stock's performance.
• The company reported better-than-expected earnings for the quarter, with an EPS of $5.36 and revenue of $10.86 billion, surpassing analyst estimates.

Resona Asset Management Co. Ltd. raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 118,783 shares of the medical research company's stock after buying an additional 9,187 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Thermo Fisher Scientific were worth $59,153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TMO. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter worth about $30,000. IMA Advisory Services Inc. bought a new position in Thermo Fisher Scientific in the 1st quarter worth about $35,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $37,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total value of $4,518,200.00. Following the transaction, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $52,037,916.68. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm's 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 completion of the transaction, the executive vice president owned 22,367 shares in the company, 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. In the last 90 days, insiders have sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Up 0.2%

Shares of NYSE:TMO traded up $0.83 during mid-day trading on Thursday, hitting $485.62. The stock had a trading volume of 1,955,228 shares, compared to its average volume of 2,498,410. 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 company has a market cap of $183.38 billion, a PE ratio of 28.09, a P/E/G ratio of 2.55 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The company's 50 day moving average is $431.32 and its 200-day moving average is $462.11.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm earned $5.37 EPS. The company's revenue was up 2.9% compared to the same quarter last year. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders 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 dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is 9.95%.

Analyst Upgrades and Downgrades

TMO has been the topic of several research reports. Barclays boosted their price target on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Wall Street Zen cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research note on Sunday. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Argus cut their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group increased their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday, July 24th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus price target of $593.00.

About Thermo Fisher Scientific

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.