OFI Invest Asset Management Sells 10,792 Shares of Thermo Fisher Scientific Inc. $TMO

OFI Invest Asset Management trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,249 shares of the medical research company’s stock after selling 10,792 shares during the period. Thermo Fisher Scientific comprises approximately 0.7% of OFI Invest Asset Management’s investment portfolio, making the stock its 29th biggest position. OFI Invest Asset Management’s holdings in Thermo Fisher Scientific were worth $56,351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of TMO. JPL Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at $28,000. Highline Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Beacon Financial Strategies CORP acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $29,000. Olistico Wealth LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $29,000. Finally, Capital A Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 825.0% in the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.9%

TMO opened at $503.91 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company has a fifty day moving average price of $508.81 and a two-hundred day moving average price of $548.48. The company has a market cap of $187.19 billion, a P/E ratio of 28.41, a price-to-earnings-growth ratio of 2.63 and a beta of 0.97. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results 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. The company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.10 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on TMO shares. Wells Fargo & Company set a $683.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. UBS Group restated a “neutral” rating and issued a $615.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Citigroup boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the company a “buy” rating in a report on Friday, January 30th. DZ Bank started coverage on shares of Thermo Fisher Scientific in a report on Friday, March 27th. They issued a “buy” rating and a $610.00 target price on the stock. Finally, Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $632.50.

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.