Chevy Chase Trust Holdings LLC Has $140.54 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Chevy Chase Trust Holdings LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,769 shares of the medical research company’s stock after buying an additional 17,687 shares during the period. Chevy Chase Trust Holdings LLC owned 0.08% of Thermo Fisher Scientific worth $140,544,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Thermo Fisher Scientific by 0.9% in 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 acquiring an additional 309,207 shares during the period. Capital World Investors lifted its holdings in shares of Thermo Fisher Scientific by 7.4% in the 3rd quarter. Capital World Investors now owns 10,285,145 shares of the medical research company’s stock worth $4,988,132,000 after purchasing an additional 706,572 shares in the last quarter. Franklin Resources Inc. grew its position in Thermo Fisher Scientific by 21.0% in the 3rd quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after purchasing an additional 1,028,125 shares during the period. Norges Bank bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $2,264,615,000. Finally, Bank of New York Mellon Corp raised its holdings in Thermo Fisher Scientific by 54.7% during 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 buying an additional 1,262,967 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 research analysts have recently issued reports on TMO shares. HSBC upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Citigroup raised their price target 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. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Evercore reissued an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research report on Sunday, December 7th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $463.99 on Friday. The firm’s 50 day moving average is $557.83 and its 200 day moving average is $548.59. The stock has a market capitalization of $172.36 billion, a P/E ratio of 26.15, a PEG ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. Thermo Fisher Scientific’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.10 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

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

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. This represents a 3.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific 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.