Temasek Holdings Private Ltd decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 19.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 891,418 shares of the medical research company’s stock after selling 216,172 shares during the period. Thermo Fisher Scientific makes up 1.6% of Temasek Holdings Private Ltd’s portfolio, making the stock its 16th largest holding. Temasek Holdings Private Ltd’s holdings in Thermo Fisher Scientific were worth $516,532,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. High Note Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 170.6% in the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock worth $27,000 after acquiring an additional 29 shares during the last quarter. Swiss RE Ltd. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $28,000. JPL Wealth Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter worth $28,000. Beacon Financial Strategies CORP acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Up 0.8%
Shares of NYSE:TMO opened at $473.08 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.15 and a current ratio of 1.53. The company’s fifty day moving average is $478.75 and its 200-day moving average is $526.39. The company has a market capitalization of $175.81 billion, a PE ratio of 26.01, a P/E/G ratio of 2.08 and a beta of 0.88.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Monday, June 15th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, June 15th. Thermo Fisher Scientific’s payout ratio is currently 10.34%.
Insider Activity
In related news, COO Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $462.66, for a total value of $185,064.00. Following the completion of the transaction, the chief operating officer directly owned 25,051 shares of the company’s stock, valued at $11,590,095.66. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.33% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
TMO has been the topic of a number of recent research reports. HSBC downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and decreased their price target for the stock from $670.00 to $540.00 in a research note on Wednesday, June 3rd. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, April 8th. Wolfe Research initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $535.00 price target on the stock. Finally, Piper Sandler initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday. They set a “neutral” rating and a $510.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $608.95.
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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