Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by TD Asset Management Inc.

TD Asset Management Inc. trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 2.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 600,523 shares of the medical research company’s stock after selling 15,040 shares during the period. TD Asset Management Inc. owned 0.15% of Thermo Fisher Scientific worth $354,699,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Thermo Fisher Scientific by 16.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,855 shares of the medical research company’s stock worth $30,628,000 after purchasing an additional 7,238 shares during the last quarter. Kovitz Investment Group Partners LLC increased its position in Thermo Fisher Scientific by 1,359.7% during the first quarter. Kovitz Investment Group Partners LLC now owns 10,612 shares of the medical research company’s stock worth $6,268,000 after purchasing an additional 9,885 shares during the last quarter. Marietta Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 4.3% during the first quarter. Marietta Wealth Management LLC now owns 12,912 shares of the medical research company’s stock valued at $7,626,000 after acquiring an additional 529 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. California State Teachers Retirement System now owns 708,079 shares of the medical research company’s stock valued at $472,459,000 after acquiring an additional 4,340 shares during the last quarter. Finally, GW&K Investment Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the first quarter valued at about $201,000. 87.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Wells Fargo & Company cut shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $605.00 to $525.00 in a research report on Monday, April 25th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $670.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. Barclays lifted their target price on shares of Thermo Fisher Scientific to $685.00 in a report on Tuesday, August 9th. Finally, SVB Leerink lifted their target price on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the company an “outperform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $661.08.

Thermo Fisher Scientific Stock Performance

TMO traded down $4.75 during trading on Wednesday, hitting $597.36. The stock had a trading volume of 14,597 shares, compared to its average volume of 1,302,918. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a market capitalization of $234.04 billion, a P/E ratio of 32.04, a PEG ratio of 1.88 and a beta of 0.83. The company’s 50-day moving average price is $553.46 and its 200 day moving average price is $558.65. Thermo Fisher Scientific Inc. has a twelve month low of $497.83 and a twelve month high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.92 by $0.59. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $9.95 billion. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. Thermo Fisher Scientific’s revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company posted $5.60 EPS. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 0.20%. Thermo Fisher Scientific’s payout ratio is currently 6.39%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 17,150 shares of the business’s stock in a transaction on Tuesday, May 24th. The shares were sold at an average price of $548.30, for a total transaction of $9,403,345.00. Following the sale, the chief operating officer now directly owns 15,758 shares in the company, valued at approximately $8,640,111.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $588.36, for a total value of $5,883,600.00. Following the sale, the chief executive officer now directly owns 183,373 shares in the company, valued at approximately $107,889,338.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Michel Lagarde sold 17,150 shares of the business’s stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $548.30, for a total transaction of $9,403,345.00. Following the completion of the sale, the chief operating officer now owns 15,758 shares in the company, valued at $8,640,111.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,577 shares of company stock worth $49,778,570. Corporate insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Further Reading

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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