Svenska Handelsbanken AB publ Invests $29.06 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Svenska Handelsbanken AB publ purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,000 shares of the medical research company’s stock, valued at approximately $29,060,000. Thermo Fisher Scientific accounts for about 9.2% of Svenska Handelsbanken AB publ’s investment portfolio, making the stock its 6th largest position.

Other hedge funds have also recently modified their holdings of the company. Northwest Financial Advisors bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $29,000. True Wealth Design LLC grew its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. Pineridge Advisors LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $39,000. Cape Investment Advisory Inc. lifted its position in Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in Thermo Fisher Scientific by 49.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TMO shares. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. The Goldman Sachs Group increased their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays cut their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $606.47.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $1.63 during trading hours on Wednesday, reaching $535.56. 908,141 shares of the stock traded hands, compared to its average volume of 1,544,145. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The company has a market cap of $204.43 billion, a P/E ratio of 34.35, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. The company’s 50-day moving average price is $573.89 and its two-hundred day moving average price is $563.61.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,000 shares of company stock valued at $12,532,780. Corporate insiders own 0.34% of the company’s stock.

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.