Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lowered by KBC Group NV

by · The Cerbat Gem

KBC Group NV cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 15.2% in the 1st quarter, Holdings Channel reports. The firm owned 257,754 shares of the medical research company’s stock after selling 46,047 shares during the quarter. KBC Group NV’s holdings in Thermo Fisher Scientific were worth $128,259,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after purchasing an additional 196,864 shares during the last quarter. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 1.1% during the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock worth $4,905,812,000 after buying an additional 104,343 shares during the period. Geode Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 2.6% during 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 acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $3,149,754,000. Finally, Northern Trust Corp increased its position in shares of Thermo Fisher Scientific by 13.2% during 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. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on TMO. Argus lowered their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Royal Bank Of Canada lowered their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. UBS Group decreased their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Finally, Evercore ISI decreased their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $604.05.

Check Out Our Latest Report on Thermo Fisher Scientific

Thermo Fisher Scientific Trading Down 1.1%

Shares of TMO opened at $407.67 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $153.89 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 2.15 and a beta of 0.78. The stock’s 50-day moving average price is $409.74 and its 200 day moving average price is $483.23.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period in the previous year, the company posted $5.11 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Profile

(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.

See Also

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