Coronation Fund Managers Ltd. Sells 43,078 Shares of Thermo Fisher Scientific Inc. $TMO

Coronation Fund Managers Ltd. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 84.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,917 shares of the medical research company’s stock after selling 43,078 shares during the period. Coronation Fund Managers Ltd.’s holdings in Thermo Fisher Scientific were worth $3,891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Levin Capital Strategies L.P. increased its position in Thermo Fisher Scientific by 2.2% during the first quarter. Levin Capital Strategies L.P. now owns 6,291 shares of the medical research company’s stock worth $3,092,000 after acquiring an additional 138 shares during the period. Arvest Bank Trust Division boosted its holdings in Thermo Fisher Scientific by 6.9% in the 1st quarter. Arvest Bank Trust Division now owns 987 shares of the medical research company’s stock valued at $485,000 after purchasing an additional 64 shares during the period. First Citizens Bank & Trust Co. grew its position in shares of Thermo Fisher Scientific by 7.2% during the 1st quarter. First Citizens Bank & Trust Co. now owns 7,664 shares of the medical research company’s stock worth $3,767,000 after purchasing an additional 516 shares in the last quarter. Magellan Asset Management Ltd increased its holdings in shares of Thermo Fisher Scientific by 10.1% during the first quarter. Magellan Asset Management Ltd now owns 83,187 shares of the medical research company’s stock worth $40,889,000 after purchasing an additional 7,605 shares during the period. Finally, Investidor Profissional Gestao de Recursos Ltda. acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $1,948,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other news, COO Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $462.66, for a total value of $185,064.00. Following the sale, the chief operating officer directly owned 25,051 shares in the company, valued at approximately $11,590,095.66. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of analyst reports. Morgan Stanley reissued an “overweight” rating and set a $620.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, April 27th. KeyCorp reiterated an “overweight” rating on shares of Thermo Fisher Scientific in a research report on Tuesday, May 26th. Wolfe Research assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, June 2nd. They issued an “outperform” rating and a $535.00 price target on the stock. Jefferies Financial Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Friday, April 24th. Finally, Evercore set a $570.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $602.14.

Thermo Fisher Scientific Stock Up 0.5%

NYSE TMO opened at $526.19 on Thursday. The business has a fifty day moving average price of $488.92 and a two-hundred day moving average price of $513.21. The stock has a market capitalization of $195.54 billion, a PE ratio of 28.93, a PEG ratio of 2.32 and a beta of 0.87. Thermo Fisher Scientific Inc. has a fifty-two week low of $435.27 and a fifty-two week high of $643.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.53 and a quick ratio of 1.15.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, April 23rd. The medical research company reported $5.44 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.19. Thermo Fisher Scientific had a return on equity of 16.86% and a net margin of 15.15%.The company had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $10.86 billion. During the same quarter in the previous year, the firm earned $5.15 EPS. Thermo Fisher Scientific’s revenue was up 6.2% on a year-over-year basis. Equities analysts expect that Thermo Fisher Scientific Inc. will post 24.84 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.34%.

About Thermo Fisher Scientific

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.