Select Equity Group L.P. Has $104.58 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Select Equity Group L.P. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.6% in the 4th quarter, HoldingsChannel reports. The fund owned 201,019 shares of the medical research company’s stock after selling 55,366 shares during the period. Select Equity Group L.P.’s holdings in Thermo Fisher Scientific were worth $104,576,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after acquiring an additional 196,864 shares in the last quarter. Capital World Investors raised its holdings in Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock valued at $4,905,812,000 after acquiring an additional 104,343 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock valued at $4,075,540,000 after purchasing an additional 197,442 shares during the period. Norges Bank bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $3,149,754,000. Finally, Northern Trust Corp grew its stake in shares of Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of several analyst reports. Raymond James reiterated an “outperform” rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Argus lowered their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley upped their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $607.43.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,075 shares of company stock valued at $7,305,942 in the last 90 days. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 1.8%

NYSE:TMO opened at $412.15 on Friday. The stock’s fifty day moving average price is $453.88 and its two-hundred day moving average price is $510.42. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company has a market cap of $155.58 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the business earned $5.11 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $0.43 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

Thermo Fisher Scientific Company Profile

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.