Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia has decreased its stake in Thermo Fisher Scientific by 20.2%, selling 17,112 shares and now holding 67,473 shares valued at approximately $33.58 million.
• Thermo Fisher Scientific's stock recently reported $5.36 earnings per share, exceeding analyst expectations, and had total revenue of $10.86 billion for the quarter.
• The company announced a quarterly dividend of $0.43 to be paid on October 15th, reflecting an annualized dividend yield of 0.4%.

Bank of Nova Scotia reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 20.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,473 shares of the medical research company's stock after selling 17,112 shares during the period. Bank of Nova Scotia's holdings in Thermo Fisher Scientific were worth $33,575,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth $25,000. Ameriflex Group Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $30,000. IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the first quarter valued at $35,000. Navigoe LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at $37,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. This represents a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.1%

Thermo Fisher Scientific stock opened at $462.74 on Friday. The firm has a market capitalization of $174.68 billion, a P/E ratio of 26.76, a P/E/G ratio of 2.47 and a beta of 0.74. The company has a 50-day simple moving average of $420.88 and a 200-day simple moving average of $467.07. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.

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 for the quarter, beating 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 period in the prior year, the company earned $5.37 EPS. Thermo Fisher Scientific's revenue was up 2.9% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is currently 9.95%.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent analyst reports. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a report on Friday, July 11th. Stifel Nicolaus cut their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday. Royal Bank Of Canada lowered their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $593.00.

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.

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