TD Asset Management Inc Sells 41,480 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• TD Asset Management Inc reduced its holdings in Thermo Fisher Scientific Inc. by 8.5%, selling 41,480 shares, and now owns 444,718 shares valued at approximately $221 million.
• Thermo Fisher Scientific reported earnings of $5.36 per share for the last quarter, surpassing analysts' expectations, with a revenue of $10.86 billion.
• The company recently declared a quarterly dividend of $0.43 per share, with an ex-dividend date of September 15th, reflecting an annualized rate of $1.72 and a yield of 0.36%.

TD Asset Management Inc decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 444,718 shares of the medical research company's stock after selling 41,480 shares during the period. TD Asset Management Inc owned approximately 0.12% of Thermo Fisher Scientific worth $221,292,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capital World Investors lifted its position in Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after acquiring an additional 104,343 shares in the last quarter. Geode Capital Management LLC lifted its position in Thermo Fisher Scientific by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after acquiring an additional 197,442 shares in the last quarter. Northern Trust Corp lifted its position in Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after acquiring an additional 455,004 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its position in Thermo Fisher Scientific by 7.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock valued at $1,432,816,000 after acquiring an additional 193,378 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on TMO shares. Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Finally, Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $0.72 during mid-day trading on Wednesday, hitting $481.44. 824,108 shares of the company's stock were exchanged, compared to its average volume of 2,511,304. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The stock's 50-day simple moving average is $416.56 and its 200-day simple moving average is $468.86. The firm has a market cap of $181.74 billion, a price-to-earnings ratio of 27.81, a price-to-earnings-growth ratio of 2.59 and a beta of 0.77. 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 announced its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping 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 company had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. During the same period last year, the firm earned $5.37 earnings per share. The business's revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company 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 $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.36%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were 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 in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

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.