Thermo Fisher Scientific Inc. $TMO Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the 3rd quarter, Holdings Channel reports. The firm owned 116,970 shares of the medical research company’s stock after selling 6,119 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $56,292,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TMO. Financial Management Network Inc. lifted its position in shares of Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after acquiring an additional 18 shares in the last quarter. Bruce G. Allen Investments LLC raised its stake in Thermo Fisher Scientific by 8.8% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 19 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings 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 buying an additional 20 shares in the last quarter. Finally, S.A. Mason LLC raised its position in shares of Thermo Fisher Scientific by 7.0% in the third quarter. S.A. Mason LLC now owns 319 shares of the medical research company’s stock valued at $155,000 after buying an additional 21 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the subject of several research reports. Wells Fargo & Company upped their price objective on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. TD Cowen restated a “buy” rating on shares of Thermo Fisher Scientific in a research report on Wednesday, January 7th. UBS Group lifted their price objective on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a report on Sunday, December 7th. Finally, Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the company’s stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. This represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lisa P. Britt sold 10,225 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the completion of the sale, the vice president directly owned 14,145 shares of the company’s stock, valued at $8,085,564.90. The trade was a 41.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 131,767 shares of company stock worth $76,467,793. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $625.42 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. The stock has a market cap of $234.98 billion, a price-to-earnings ratio of 36.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91. The business has a fifty day moving average of $590.88 and a two-hundred day moving average of $530.87.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. The business had revenue of $11.12 billion during the quarter, compared to analysts’ expectations of $10.90 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.28 EPS. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.43 per share. The ex-dividend date was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback program on Thursday, November 6th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

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.