Lord Abbett & CO. LLC Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Lord Abbett & CO. LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 74,781 shares of the medical research company’s stock after selling 2,496 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Thermo Fisher Scientific were worth $38,903,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of TMO. Nordea Investment Management AB boosted its stake in Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after buying an additional 10,606 shares during the last quarter. S.E.E.D. Planning Group LLC grew its holdings in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after purchasing an additional 618 shares in the last quarter. Czech National Bank increased its position in Thermo Fisher Scientific by 6.6% in the fourth quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock worth $43,145,000 after purchasing an additional 5,118 shares during the last quarter. Douglas Lane & Associates LLC lifted its position in Thermo Fisher Scientific by 1.9% during the fourth quarter. Douglas Lane & Associates LLC now owns 182,511 shares of the medical research company’s stock valued at $94,948,000 after purchasing an additional 3,460 shares during the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $4,758,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on TMO. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research report on Friday, January 10th. UBS Group dropped their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $616.95.

Thermo Fisher Scientific Trading Down 0.6 %

TMO opened at $424.02 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $409.85 and a 12 month high of $627.88. The stock has a fifty day moving average price of $487.28 and a 200-day moving average price of $527.66. The firm has a market cap of $160.06 billion, a price-to-earnings ratio of 25.65, a PEG ratio of 2.99 and a beta of 0.86. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a $0.43 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is currently owned by corporate 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.