Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,607 shares of the medical research company’s stock after selling 1,236 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Thermo Fisher Scientific were worth $90,593,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TMO. State Street Corp grew its holdings in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after buying an additional 124,996 shares during the last quarter. FMR LLC boosted its holdings in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the period. Franklin Resources Inc. boosted its position in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the period. Finally, Amundi grew its stake in shares of Thermo Fisher Scientific by 13.5% in the fourth quarter. Amundi now owns 2,860,847 shares of the medical research company’s stock valued at $1,556,689,000 after buying an additional 340,263 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares in the company, valued at $5,759,736.32. The trade was a 25.87 % decrease in their position. The sale 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 Thermo Fisher Scientific stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $13,106,062 in the last quarter. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

TMO has been the subject of several research analyst reports. Morgan Stanley increased their target price 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. Bank of America cut their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Scotiabank raised their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Raymond James reissued an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $512.94 on Thursday. The firm has a market capitalization of $193.51 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a fifty day moving average of $549.00 and a 200-day moving average of $560.46. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.34%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

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.