Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in Thermo Fisher Scientific Inc. by 11.5%, holding 7,000 shares valued at $3.5 million after selling 908 shares in the 1st quarter.
• Thermo Fisher Scientific reported $5.36 EPS in its latest quarterly earnings, beating estimates and achieving a 2.9% revenue increase year-over-year.
• The company announced a quarterly dividend of $0.43, with a dividend yield of 0.4%, payable on October 15th to investors of record on September 15th.

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,000 shares of the medical research company's stock after selling 908 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Thermo Fisher Scientific were worth $3,501,000 at the end of the most recent quarter.

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

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of the business'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 in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Evercore ISI lowered their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Scotiabank raised 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 research note on Friday, July 11th. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. UBS Group lifted their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Saturday. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $593.00.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $462.74 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The company 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. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The stock's fifty day moving average is $420.88 and its two-hundred day moving average is $467.07.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data 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. The firm had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company's quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.37 EPS. Equities 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 issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.

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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