Thermo Fisher Scientific Inc. $TMO Shares Sold by Orion Porfolio Solutions LLC

Key Points

• Orion Portfolio Solutions cut its stake in Thermo Fisher by 28.8% in Q3, selling 7,727 shares and leaving 19,102 shares valued at about $9.27 million.
• Thermo Fisher beat quarterly estimates with EPS of $6.57 versus $6.45 and revenue of $12.22 billion (up 7.2% year-over-year), and analysts hold a consensus "Moderate Buy" with an average target of $633.68.
• The company raised its quarterly dividend to $0.47 (annualized $1.88, ~0.4% yield), while recent insider sales by the CEO and an EVP modestly reduced their holdings.

Orion Porfolio Solutions LLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 28.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,102 shares of the medical research company's stock after selling 7,727 shares during the period. Orion Porfolio Solutions LLC's holdings in Thermo Fisher Scientific were worth $9,265,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Stonebridge Capital Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 25,659 shares of the medical research company's stock valued at $12,445,000 after purchasing an additional 130 shares during the period. Snyder Capital Management L P boosted its holdings in shares of Thermo Fisher Scientific by 71.6% in the third quarter. Snyder Capital Management L P now owns 98,285 shares of the medical research company's stock worth $47,670,000 after buying an additional 40,997 shares during the period. Corient IA LLC raised its holdings in shares of Thermo Fisher Scientific by 100.0% during the third quarter. Corient IA LLC now owns 1,000 shares of the medical research company's stock valued at $485,000 after acquiring an additional 500 shares during the period. Alpha Family Trust purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $342,000. Finally, Element Pointe Advisors LLC boosted its stake in Thermo Fisher Scientific by 3.2% in the 3rd quarter. Element Pointe Advisors LLC now owns 1,595 shares of the medical research company's stock worth $774,000 after purchasing an additional 50 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $501.72 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a market capitalization of $186.38 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.99 and a beta of 0.96. The business has a 50-day moving average of $567.28 and a two-hundred day moving average of $548.32. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99.

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 (EPS) for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the firm earned $6.10 EPS. Thermo Fisher Scientific's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's dividend payout ratio is currently 9.70%.

Analyst Ratings Changes

Several brokerages recently issued reports on TMO. KeyCorp raised Thermo Fisher Scientific from a "sector weight" rating to an "overweight" rating and set a $750.00 price objective for the company in a research note on Sunday, December 7th. Citigroup increased their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. UBS Group restated a "neutral" rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $633.68.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 400 shares of the business's 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the 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 sale, the chief executive officer directly owned 123,925 shares of the company's stock, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific 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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