Danske Bank A S Makes New Investment in Thermo Fisher Scientific Inc. $TMO

Danske Bank A S purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the third quarter, HoldingsChannel reports. The firm purchased 254,055 shares of the medical research company’s stock, valued at approximately $123,222,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lombard Odier Asset Management Switzerland SA increased its holdings in Thermo Fisher Scientific by 8.4% in the 2nd 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 acquiring an additional 1,128 shares during the last quarter. Cornerstone Investment Partners LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $41,393,000. Weaver Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $506,000. VELA Investment Management LLC lifted its position in shares of Thermo Fisher Scientific by 65.5% in the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after buying an additional 3,683 shares in the last quarter. Finally, NEOS Investment Management LLC boosted its stake in Thermo Fisher Scientific by 28.6% during the third quarter. NEOS Investment Management LLC now owns 51,364 shares of the medical research company’s stock valued at $24,913,000 after buying an additional 11,415 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Barclays upped their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. TD Cowen dropped their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, UBS Group restated a “neutral” rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The stock was 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 in the company, valued at approximately $63,499,170. This represents a 3.88% 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, EVP Gianluca Pettiti sold 400 shares of the firm’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 value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $473.21 on Wednesday. The firm has a market capitalization of $175.79 billion, a PE ratio of 26.67, a PEG ratio of 2.72 and a beta of 0.96. The stock’s fifty day moving average is $552.08 and its 200 day moving average is $548.74. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week 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 posted its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same period in the previous year, the firm earned $6.10 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. 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 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 annualized dividend and a 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 payout ratio is currently 10.60%.

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.