AGF Management Ltd. Sells 118,109 Shares of Thermo Fisher Scientific Inc. $TMO

AGF Management Ltd. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 57.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 87,748 shares of the medical research company’s stock after selling 118,109 shares during the quarter. AGF Management Ltd.’s holdings in Thermo Fisher Scientific were worth $42,560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Convergence Investment Partners LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth $228,000. Jones Financial Companies Lllp boosted its holdings in shares of Thermo Fisher Scientific by 18.3% during the 3rd quarter. Jones Financial Companies Lllp now owns 152,635 shares of the medical research company’s stock valued at $71,578,000 after acquiring an additional 23,609 shares in the last quarter. Essex Bank grew its position in Thermo Fisher Scientific by 3.3% during the 3rd quarter. Essex Bank now owns 1,733 shares of the medical research company’s stock worth $841,000 after acquiring an additional 56 shares during the last quarter. Oak Harbor Wealth Partners LLC bought a new position in Thermo Fisher Scientific in the third quarter valued at about $218,000. Finally, Atlatl Advisers LLC acquired a new stake in shares of Thermo Fisher Scientific during the third quarter valued at about $362,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 10,225 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the completion of the sale, the vice president directly owned 14,145 shares in the company, valued at $8,085,564.90. This trade represents a 41.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total value of $18,668,480.00. Following the transaction, the chief operating officer directly owned 65,480 shares in the company, valued at approximately $38,200,377.20. This trade represents a 32.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 124,517 shares of company stock valued at $72,363,568 in the last ninety days. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $582.07 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The firm’s fifty day simple moving average is $593.88 and its two-hundred day simple moving average is $539.86. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The stock has a market capitalization of $218.69 billion, a P/E ratio of 32.81, a price-to-earnings-growth ratio of 3.82 and a beta of 0.93.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.10 EPS. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a $0.43 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 9th. They issued a “buy” rating and a $685.00 price objective for the company. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. UBS Group reissued a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday. Morgan Stanley raised their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Finally, TD Cowen reduced their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.