Royal London Asset Management Ltd. reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 758,930 shares of the medical research company's stock after selling 11,486 shares during the period. Thermo Fisher Scientific makes up about 1.0% of Royal London Asset Management Ltd.'s investment portfolio, making the stock its 17th biggest position. Royal London Asset Management Ltd. owned approximately 0.20% of Thermo Fisher Scientific worth $394,818,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific in the third quarter worth approximately $26,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter worth $28,000. FPC Investment Advisory Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $28,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 89.23% of the company's stock.
Shares of TMO stock opened at $518.21 on Thursday. The company has a market cap of $195.50 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock's 50 day simple moving average is $547.18 and its two-hundred day simple moving average is $557.21. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.33%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is presently 10.41%.
A number of research firms have commented on TMO. Raymond James restated an "outperform" rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Scotiabank lifted their target price 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. Citigroup decreased their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Bank of America cut their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a research report on Friday, December 13th. Finally, UBS Group upped their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $653.23.
View Our Latest Research Report on Thermo Fisher Scientific
In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 over the last 90 days. Insiders own 0.34% of the company's stock.
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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