Thermo Fisher Scientific Inc. (NYSE:TMO) Position Lifted by LGT Fund Management Co Ltd.

LGT Fund Management Co Ltd. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 55.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,712 shares of the medical research company’s stock after buying an additional 3,457 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Thermo Fisher Scientific were worth $5,371,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in TMO. Norges Bank acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $2,909,524,000. Capital World Investors raised its position in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB acquired a new stake in Thermo Fisher Scientific in the first quarter worth $705,636,000. Veritas Asset Management LLP lifted its position in Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the last quarter. Finally, Winslow Capital Management LLC bought a new position in Thermo Fisher Scientific in the 4th quarter worth about $333,786,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on TMO. Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird increased their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $630.41.

Thermo Fisher Scientific Trading Up 1.5 %

NYSE:TMO opened at $620.42 on Tuesday. The stock has a fifty day simple moving average of $585.64 and a 200 day simple moving average of $578.80. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $237.00 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 2.84 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the firm posted $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.