Harvest Portfolios Group Inc. Sells 4,403 Shares of Thermo Fisher Scientific Inc. $TMO

Harvest Portfolios Group Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 125,513 shares of the medical research company’s stock after selling 4,403 shares during the quarter. Thermo Fisher Scientific accounts for 1.1% of Harvest Portfolios Group Inc.’s holdings, making the stock its 26th largest holding. Harvest Portfolios Group Inc.’s holdings in Thermo Fisher Scientific were worth $60,876,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after purchasing an additional 309,207 shares in the last quarter. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $2,264,615,000. Franklin Resources Inc. lifted its position in Thermo Fisher Scientific by 11.3% during 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 grew 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 2.6% during 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 purchasing an additional 74,971 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wells Fargo & Company set a $683.00 target price on Thermo Fisher Scientific in a research report on Friday, January 30th. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Evercore reissued an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $520.80 on Friday. The firm’s fifty day moving average is $574.24 and its two-hundred day moving average is $547.46. The firm has a market cap of $195.67 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 3.00 and a beta of 0.93. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the prior year, the business earned $6.10 earnings per share. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michel Lagarde sold 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the sale, the chief operating officer directly owned 65,480 shares in the company, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 98,271 shares of company stock valued at $56,920,935. Corporate insiders own 0.33% of the company’s stock.

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.