Allspring Global Investments Holdings LLC Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Allspring Global Investments Holdings LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 138,911 shares of the medical research company’s stock after purchasing an additional 13,346 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Thermo Fisher Scientific were worth $76,818,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $2,909,524,000. Capital World Investors increased its stake in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $705,636,000. Veritas Asset Management LLP grew its holdings in Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Finally, Winslow Capital Management LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth $333,786,000. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. Insiders have sold a total of 33,084 shares of company stock valued at $19,767,092 over the last three months. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMO shares. Raymond James lifted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. HSBC increased their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group reiterated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Finally, Robert W. Baird upped their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $618.94.

Thermo Fisher Scientific Price Performance

TMO traded down $0.15 during midday trading on Tuesday, hitting $605.44. The stock had a trading volume of 23,839 shares, compared to its average volume of 1,515,284. The company has a market cap of $231.28 billion, a P/E ratio of 38.84, a price-to-earnings-growth ratio of 2.81 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $622.30. The business has a fifty day moving average of $574.90 and a 200 day moving average of $574.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter last year, the company earned $5.15 EPS. The firm’s revenue was down 1.4% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

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.