Harvest Fund Management Co. Ltd Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Harvest Fund Management Co. Ltd lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 74.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 72 shares of the medical research company’s stock after selling 205 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Thermo Fisher Scientific were worth $38,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 0.6% in the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after buying an additional 180,618 shares during the last quarter. Morgan Stanley raised its stake in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after acquiring an additional 50,736 shares during the last quarter. Northern Trust Corp lifted its position in Thermo Fisher Scientific by 2.6% during the 3rd quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock worth $1,988,856,000 after acquiring an additional 99,377 shares during the period. Wellington Management Group LLP increased its holdings in shares of Thermo Fisher Scientific by 9.8% in the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock valued at $1,559,351,000 after purchasing an additional 274,464 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Thermo Fisher Scientific by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,184,928 shares of the medical research company’s stock worth $1,105,945,000 after purchasing an additional 8,672 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

TMO stock opened at $573.60 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.39 and a current ratio of 1.70. The stock’s 50 day moving average price is $573.60 and its 200 day moving average price is $529.90. The firm has a market cap of $218.95 billion, a P/E ratio of 36.79, a PEG ratio of 2.41 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.54 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Activity

In other news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the transaction, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Debora L. Spar sold 164 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at $660,192.79. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock valued at $28,513,384 over the last quarter. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TMO shares. Raymond James upped their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Citigroup started coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Evercore ISI lifted their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $606.76.

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.