LGT Fund Management Co Ltd. Has $3.51 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

LGT Fund Management Co Ltd. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 7,046 shares of the medical research company’s stock after selling 2,988 shares during the period. LGT Fund Management Co Ltd.’s holdings in Thermo Fisher Scientific were worth $3,506,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. Brighton Jones LLC boosted its holdings in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock valued at $79,677,000 after purchasing an additional 461 shares during the last quarter. Sagespring Wealth Partners LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $1,242,000. Finally, Bragg Financial Advisors Inc grew its position in shares of Thermo Fisher Scientific by 1.1% in the fourth quarter. Bragg Financial Advisors Inc now owns 12,960 shares of the medical research company’s stock valued at $6,742,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $462.59 on Tuesday. The company has a market capitalization of $174.68 billion, a price-to-earnings ratio of 26.75, a PEG ratio of 2.46 and a beta of 0.74. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The stock has a fifty day simple moving average of $428.13 and a 200 day simple moving average of $461.84. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to analysts’ expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.37 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is 9.95%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total value of $4,518,200.00. Following the transaction, the chief executive officer owned 115,174 shares of the company’s stock, valued at approximately $52,037,916.68. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the transaction, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,400 shares of company stock worth $8,345,792 in the last three months. Insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Scotiabank raised Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 target price on the stock in a research report on Friday, July 11th. Evercore ISI cut their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating for the company in a research note on Thursday, July 24th. Finally, Royal Bank Of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $593.00.

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.