Tredje AP fonden Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Tredje AP fonden reduced its holdings in Thermo Fisher Scientific by 4.0%, now owning 139,692 shares valued at approximately $69.5 million.
• Thermo Fisher Scientific reported a $5.36 earnings per share for the last quarter, exceeding analysts' expectations, with revenue reaching $10.86 billion.
• The company announced a quarterly dividend of $0.43, with a dividend yield of 0.36%, set to be paid on October 15th.

Tredje AP fonden decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 139,692 shares of the medical research company's stock after selling 5,865 shares during the period. Tredje AP fonden's holdings in Thermo Fisher Scientific were worth $69,511,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of TMO. Cypress Advisory Group LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $253,000. GAMMA Investing LLC increased its holdings in shares of Thermo Fisher Scientific by 22.0% in the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after acquiring an additional 877 shares during the last quarter. Deutsche Bank AG raised its position in shares of Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after acquiring an additional 114,277 shares in the last quarter. Hancock Whitney Corp lifted its stake in Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock worth $2,802,000 after purchasing an additional 30 shares during the last quarter. Finally, Cetera Trust Company N.A increased its stake in Thermo Fisher Scientific by 3.3% during the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after purchasing an additional 150 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TMO has been the subject of several research reports. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. HSBC restated a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Barclays increased their target price on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Price Performance

Shares of TMO traded down $9.72 during midday trading on Thursday, hitting $467.56. The company's stock had a trading volume of 3,413,838 shares, compared to its average volume of 3,120,658. The stock has a market capitalization of $176.50 billion, a price-to-earnings ratio of 27.04, a price-to-earnings-growth ratio of 2.55 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. The company's fifty day simple moving average is $418.15 and its two-hundred day simple moving average is $468.92. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its 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 business had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the firm posted $5.37 EPS. The company's revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Company 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.