LGT Fund Management Co Ltd. Has $2.89 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

LGT Fund Management Co Ltd. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.8% in the third quarter, Holdings Channel.com reports. The firm owned 5,441 shares of the medical research company’s stock after selling 2,201 shares during the period. LGT Fund Management Co Ltd.’s holdings in Thermo Fisher Scientific were worth $2,888,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after buying an additional 309,207 shares during the last quarter. Norges Bank bought a new position in Thermo Fisher Scientific during the second quarter valued at approximately $2,264,615,000. Franklin Resources Inc. lifted its stake in Thermo Fisher Scientific by 11.3% in the second quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after acquiring an additional 498,238 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 2.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after buying an additional 74,971 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TMO. TD Cowen lowered their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Evercore reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Finally, Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Stock Down 3.3%

Shares of TMO stock opened at $501.72 on Monday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm has a market cap of $186.38 billion, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96. The stock has a 50 day moving average of $567.28 and a 200-day moving average of $549.05.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $11.95 billion. During the same quarter in the previous year, the firm posted $6.10 earnings per share. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS 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. Stockholders of record on Friday, March 13th will be given a dividend of $0.47 per share. 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 dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.70%.

Insider Activity

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The stock was 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 of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by company insiders.

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.