Lord Abbett & CO. LLC Sells 3,517 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lord Abbett & CO. LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 71,264 shares of the medical research company’s stock after selling 3,517 shares during the period. Lord Abbett & CO. LLC’s holdings in Thermo Fisher Scientific were worth $35,461,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in TMO. Brighton Jones LLC increased its position in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Bank Pictet & Cie Europe AG increased its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock worth $79,677,000 after purchasing an additional 461 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Thermo Fisher Scientific by 2.8% during the fourth quarter. NewEdge Advisors LLC now owns 30,489 shares of the medical research company’s stock worth $15,862,000 after purchasing an additional 843 shares in the last quarter. Finally, Global Endowment Management LP grew its holdings in shares of Thermo Fisher Scientific by 8.0% during the fourth quarter. Global Endowment Management LP now owns 809 shares of the medical research company’s stock valued at $421,000 after buying an additional 60 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TMO. Wall Street Zen lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. Royal Bank Of Canada dropped their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Scotiabank raised shares of Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 price objective on the stock in a report on Friday, July 11th. Finally, Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $593.00.

Thermo Fisher Scientific Trading Up 0.2%

TMO stock opened at $485.62 on Friday. The company’s 50-day simple moving average is $433.08 and its 200-day simple moving average is $461.44. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The firm has a market cap of $183.38 billion, a P/E ratio of 28.09, a PEG ratio of 2.59 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $10.68 billion. During the same period in the prior year, the company posted $5.37 EPS. The company’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the completion of the transaction, the chief executive officer owned 115,174 shares in the company, valued at $52,037,916.68. This represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Friday, July 25th. The stock was 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 approximately $10,735,712.66. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,400 shares of company stock valued at $8,345,792. Insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.