Oak Grove Capital LLC Sells 1,750 Shares of Thermo Fisher Scientific Inc. $TMO

Oak Grove Capital LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 54.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,444 shares of the medical research company’s stock after selling 1,750 shares during the quarter. Oak Grove Capital LLC’s holdings in Thermo Fisher Scientific were worth $700,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Lombard Odier Asset Management Switzerland SA grew its position in shares of Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $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 during the 3rd quarter worth $41,393,000. Weaver Capital Management LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at about $506,000. VELA Investment Management LLC raised its position in Thermo Fisher Scientific by 65.5% during the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock valued at $4,513,000 after purchasing an additional 3,683 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. boosted its holdings in shares of Thermo Fisher Scientific by 45.3% in the 3rd quarter. Lockheed Martin Investment Management Co. now owns 11,160 shares of the medical research company’s stock valued at $5,413,000 after purchasing an additional 3,480 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on TMO shares. HSBC raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. TD Cowen cut 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. Finally, Evercore restated an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares in the company, valued at $47,404,976.52. The trade was a 20.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 54,446 shares of company stock valued at $31,309,204 in the last quarter. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 2.3%

NYSE:TMO opened at $509.09 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 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. The firm’s fifty day moving average is $572.91 and its 200-day moving average is $548.55. The firm has a market cap of $189.12 billion, a P/E ratio of 28.70, a P/E/G ratio of 3.01 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business posted $6.10 EPS. Equities analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders 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 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 (DPR) is currently 9.70%.

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

About Thermo Fisher Scientific

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.