AGF Management Ltd. Has $42.56 Million Holdings in Thermo Fisher Scientific Inc. $TMO

AGF Management Ltd. lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 57.4% in the third quarter, Holdings Channel.com reports. The firm owned 87,748 shares of the medical research company’s stock after selling 118,109 shares during the period. AGF Management Ltd.’s holdings in Thermo Fisher Scientific were worth $42,560,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Convergence Investment Partners LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $228,000. Jones Financial Companies Lllp lifted its stake in Thermo Fisher Scientific by 18.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 152,635 shares of the medical research company’s stock valued at $71,578,000 after acquiring an additional 23,609 shares in the last quarter. Essex Bank grew its stake in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. Essex Bank now owns 1,733 shares of the medical research company’s stock worth $841,000 after acquiring an additional 56 shares in the last quarter. Oak Harbor Wealth Partners LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $218,000. Finally, Atlatl Advisers LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $362,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.6%

Shares of TMO opened at $582.07 on Tuesday. The firm has a market cap of $218.69 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 3.82 and a beta of 0.93. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two 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 business has a 50-day moving average of $593.88 and a 200 day moving average of $539.86.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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 analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the business earned $6.10 earnings per share. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Insider Buying and Selling

In other news, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 124,517 shares of company stock valued at $72,363,568. 0.33% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have commented on TMO. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. Evercore ISI reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research note on Sunday, December 7th. Hsbc Global Res upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, UBS Group restated a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific 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.