Thermo Fisher Scientific Inc. $TMO Stake Boosted by Legal & General Group Plc

Legal & General Group Plc raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,462,988 shares of the medical research company’s stock after buying an additional 124,432 shares during the quarter. Legal & General Group Plc owned 0.66% of Thermo Fisher Scientific worth $1,194,598,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $2,264,615,000. Soundwatch Capital LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $807,713,000. Bank of New York Mellon Corp boosted its holdings in shares of Thermo Fisher Scientific by 54.7% during the 3rd 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 period. EdgePoint Investment Group Inc. raised its holdings in Thermo Fisher Scientific by 282.5% in the 2nd quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock worth $536,450,000 after acquiring an additional 977,127 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in Thermo Fisher Scientific by 58.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,293,264 shares of the medical research company’s stock valued at $929,828,000 after acquiring an additional 843,267 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the sale, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $63,499,170. The trade was a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Barclays raised their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a report on Sunday, December 7th. One research 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $510.28 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm has a fifty day moving average of $565.80 and a 200-day moving average of $549.24. The firm has a market capitalization of $189.56 billion, a price-to-earnings ratio of 28.76, a price-to-earnings-growth ratio of 2.89 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $11.95 billion. During the same period in the previous year, the company posted $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced 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 yield of 0.4%. The ex-dividend date of this dividend 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 (DPR) 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.