Thermo Fisher Scientific Inc. $TMO Shares Sold by Brown Brothers Harriman & Co.

Key Points

• Brown Brothers Harriman & Co. trimmed its Thermo Fisher stake by 1.2% in Q3, selling 6,201 shares and now holds 516,385 shares (about 0.14% of TMO) valued at $250.46 million, while institutional ownership in the stock is roughly 89.23%.
• Insider selling occurred recently: EVP Gianluca Pettiti sold 400 shares at $541.20 and CEO Marc N. Casper sold 5,000 shares at $512.40, leaving insiders with about 0.33% ownership.
• Thermo Fisher beat quarterly estimates with EPS $6.57 (vs. $6.45) and revenue $12.22B (+7.2% YoY), raised its quarterly dividend to $0.47, and holds a consensus analyst rating of Moderate Buy with a $633.68 price target.

Brown Brothers Harriman & Co. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 516,385 shares of the medical research company's stock after selling 6,201 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.5% of Brown Brothers Harriman & Co.'s investment portfolio, making the stock its 17th largest holding. Brown Brothers Harriman & Co. owned 0.14% of Thermo Fisher Scientific worth $250,457,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd 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. Capital A Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company's stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $31,000. Howard Hughes Medical Institute purchased a new stake in Thermo Fisher Scientific during the second quarter worth $33,000. Finally, Elevation Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company's stock valued at $37,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TMO shares. The Goldman Sachs Group started coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a "buy" rating and a $685.00 target price on the stock. Robert W. Baird set a $653.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. TD Cowen decreased their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a research note on Friday, January 30th. Finally, UBS Group reiterated a "neutral" rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Down 2.5%

Shares of TMO opened at $463.99 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm has a market cap of $172.36 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The company's 50-day moving average price is $557.83 and its 200 day moving average price is $548.17. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts' consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm's quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the company posted $6.10 EPS. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is 9.70%.

Thermo Fisher Scientific Company Profile

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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