State of Alaska Department of Revenue Has $21.58 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Key Points

• State of Alaska Department of Revenue trimmed its Thermo Fisher stake by 7.9% in Q4, selling 3,205 shares and now owning 37,241 shares worth about $21.58 million.
• Quarterly results and analyst view: Thermo Fisher beat Q4 estimates with $6.57 EPS (vs. $6.45) and $12.22B revenue (up 7.2% YoY), and carries a consensus "Moderate Buy" rating with a $632.50 price target.
• Dividend and insider activity: the company raised its quarterly dividend to $0.47 ($1.88 annualized, ~0.4% yield) while CEO Marc Casper sold 5,000 shares; institutional investors hold roughly 89% of the stock.

State of Alaska Department of Revenue trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,241 shares of the medical research company's stock after selling 3,205 shares during the period. State of Alaska Department of Revenue's holdings in Thermo Fisher Scientific were worth $21,579,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of TMO. JPL Wealth Management LLC acquired a new position in Thermo Fisher Scientific during the third quarter valued at $28,000. Highline Wealth Partners LLC raised its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company's stock valued at $29,000 after buying an additional 33 shares during the period. Beacon Financial Strategies CORP acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. Olistico Wealth LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. Finally, Capital A Wealth Management LLC raised its position in Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock valued at $30,000 after buying an additional 66 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of recent research reports. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Robert W. Baird set a $653.00 target price on Thermo Fisher Scientific in a research note on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Wednesday. Citigroup boosted their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a "buy" rating in a research note on Friday, January 30th. Finally, Barclays boosted their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. One research 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. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $632.50.

Thermo Fisher Scientific Stock Performance

TMO opened at $496.34 on Monday. The company has a market cap of $184.45 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. The stock has a 50-day moving average of $505.33 and a 200-day moving average of $549.42. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

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 (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm's revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $6.10 EPS. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.43. The ex-dividend date is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is currently 10.60%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred 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 owned 20,752 shares of the company's stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is owned by corporate insiders.

About Thermo Fisher Scientific

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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