Nordea Investment Management AB Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Nordea Investment Management AB grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 23.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,452 shares of the medical research company’s stock after acquiring an additional 10,606 shares during the quarter. Nordea Investment Management AB’s holdings in Thermo Fisher Scientific were worth $28,868,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC increased its position in Thermo Fisher Scientific by 47.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 5,643 shares of the medical research company’s stock valued at $3,121,000 after acquiring an additional 1,815 shares during the period. Oak Thistle LLC raised its stake in shares of Thermo Fisher Scientific by 6.3% during the second quarter. Oak Thistle LLC now owns 588 shares of the medical research company’s stock worth $325,000 after purchasing an additional 35 shares during the last quarter. Prudential PLC grew its position in Thermo Fisher Scientific by 12.6% in the 2nd quarter. Prudential PLC now owns 9,178 shares of the medical research company’s stock valued at $5,075,000 after buying an additional 1,024 shares during the last quarter. Wedbush Securities Inc. raised its position in Thermo Fisher Scientific by 0.8% during the 2nd quarter. Wedbush Securities Inc. now owns 4,302 shares of the medical research company’s stock worth $2,379,000 after buying an additional 34 shares during the last quarter. Finally, Choreo LLC lifted its stake in shares of Thermo Fisher Scientific by 229.9% in the 2nd quarter. Choreo LLC now owns 10,570 shares of the medical research company’s stock worth $5,735,000 after acquiring an additional 7,366 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 1.6 %

TMO stock opened at $545.71 on Wednesday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The stock has a market capitalization of $208.73 billion, a P/E ratio of 34.21, a PEG ratio of 3.54 and a beta of 0.76. The company has a 50 day moving average price of $530.35 and a two-hundred day moving average price of $568.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.69 earnings per share. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is owned by insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several recent analyst reports. Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada cut their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bernstein Bank increased their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Finally, Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $650.05.

Thermo Fisher Scientific 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.