AGF Management Ltd. Sells 29,704 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

by · The Markets Daily

AGF Management Ltd. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 18.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 133,526 shares of the medical research company’s stock after selling 29,704 shares during the period. AGF Management Ltd.’s holdings in Thermo Fisher Scientific were worth $69,464,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TMO. Geode Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. raised its holdings in shares of Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after purchasing an additional 1,837 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after purchasing an additional 10,606 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC raised its holdings in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after purchasing an additional 618 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now 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 20,125 shares of company stock valued at $11,095,799 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.0 %

NYSE TMO opened at $526.32 on Tuesday. The stock has a market cap of $198.56 billion, a PE ratio of 31.84, a PEG ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The firm has a 50-day simple moving average of $549.26 and a 200 day simple moving average of $561.44.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.43 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.33%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley upped their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Scotiabank raised their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Finally, Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $653.23.

View Our Latest Stock Analysis on TMO

About Thermo Fisher Scientific

(Free Report)

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.

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