Coronation Fund Managers Ltd. Has $3.89 Million Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Coronation Fund Managers Ltd. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 84.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,917 shares of the medical research company’s stock after selling 43,078 shares during the period. Coronation Fund Managers Ltd.’s holdings in Thermo Fisher Scientific were worth $3,891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Legacy Wealth Managment LLC ID grew its holdings in Thermo Fisher Scientific by 78.6% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock worth $25,000 after acquiring an additional 22 shares during the last quarter. High Note Wealth LLC lifted its holdings in shares of Thermo Fisher Scientific by 170.6% during the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock worth $27,000 after purchasing an additional 29 shares during the period. Swiss RE Ltd. bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $28,000. JPL Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at $28,000. Finally, Beacon Financial Strategies CORP bought a new position in Thermo Fisher Scientific during the 4th quarter worth $29,000. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised Thermo Fisher Scientific from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Stifel Nicolaus decreased their target price on shares of Thermo Fisher Scientific from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, April 24th. HSBC lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and lowered their price target for the stock from $670.00 to $540.00 in a report on Wednesday, June 3rd. Finally, Sanford C. Bernstein assumed coverage on shares of Thermo Fisher Scientific in a research report on Friday, June 26th. They set a “market perform” rating and a $520.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $602.14.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, COO Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were sold at an average price of $462.66, for a total transaction of $185,064.00. Following the transaction, the chief operating officer owned 25,051 shares in the company, valued at approximately $11,590,095.66. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.5%

Shares of TMO stock opened at $526.19 on Thursday. Thermo Fisher Scientific Inc. has a fifty-two week low of $435.27 and a fifty-two week high of $643.99. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.15 and a current ratio of 1.53. The stock has a 50 day simple moving average of $488.92 and a two-hundred day simple moving average of $513.21. The company has a market cap of $195.54 billion, a P/E ratio of 28.93, a PEG ratio of 2.32 and a beta of 0.87.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, April 23rd. The medical research company reported $5.44 EPS for the quarter, topping the consensus estimate of $5.25 by $0.19. Thermo Fisher Scientific had a net margin of 15.15% and a return on equity of 16.86%. The company had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.86 billion. During the same quarter last year, the firm posted $5.15 EPS. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Research analysts forecast that Thermo Fisher Scientific Inc. will post 24.84 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Tuesday, September 15th. Thermo Fisher Scientific’s payout ratio is 10.34%.

Thermo Fisher Scientific Company 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.