Korea Investment CORP Has $124.52 Million Stock Position in Thermo Fisher Scientific Inc. $TMO

Korea Investment CORP cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 256,722 shares of the medical research company’s stock after selling 2,259 shares during the period. Korea Investment CORP’s holdings in Thermo Fisher Scientific were worth $124,515,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in TMO. Vanguard Group Inc. grew its stake in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after buying an additional 309,207 shares in the last quarter. Norges Bank bought a new stake in Thermo Fisher Scientific during the second quarter worth $2,264,615,000. Franklin Resources Inc. grew its position in shares of Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after acquiring an additional 498,238 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Thermo Fisher Scientific by 54.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after purchasing an additional 1,262,967 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 2.6% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock valued at $1,216,612,000 after purchasing an additional 74,971 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on TMO. Evercore reiterated an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Barclays raised their price objective on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. TD Cowen decreased their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a report on Friday, January 30th. Robert W. Baird set a $653.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, UBS Group reaffirmed a “neutral” rating and set a $615.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Trading Down 3.3%

Shares of NYSE:TMO opened at $501.72 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The business has a 50 day moving average of $567.28 and a 200-day moving average of $548.67. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The stock has a market cap of $186.38 billion, a PE ratio of 28.28, a P/E/G ratio of 2.89 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $6.10 EPS. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president directly owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.