Intech Investment Management LLC Sells 5,099 Shares of Thermo Fisher Scientific Inc. $TMO

Intech Investment Management LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,489 shares of the medical research company’s stock after selling 5,099 shares during the period. Intech Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $6,542,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. TIAA Trust National Association lifted its position in shares of Thermo Fisher Scientific by 10.5% during the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock valued at $50,256,000 after buying an additional 11,817 shares in the last quarter. Lombard Odier Asset Management Switzerland SA lifted its holdings in Thermo Fisher Scientific by 8.4% during the second quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock valued at $5,875,000 after purchasing an additional 1,128 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $41,393,000. Weaver Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $506,000. Finally, VELA Investment Management LLC lifted its stake in Thermo Fisher Scientific by 65.5% in the 3rd quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after buying an additional 3,683 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares in the company, valued at approximately $38,200,377.20. This trade represents a 32.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 98,271 shares of company stock worth $56,920,935. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Evercore reissued an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock 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 $520.80 on Friday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The firm’s 50 day moving average price is $574.24 and its 200-day moving average price is $547.46. The firm has a market cap of $195.67 billion, a P/E ratio of 29.36, a P/E/G ratio of 3.00 and a beta of 0.93. 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 announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating 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 company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. During the same period last year, the business posted $6.10 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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

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.