Legal & General Group Plc Has $1.19 Billion Stock Holdings in Thermo Fisher Scientific Inc. $TMO

Legal & General Group Plc increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,462,988 shares of the medical research company’s stock after buying an additional 124,432 shares during the period. Legal & General Group Plc’s holdings in Thermo Fisher Scientific were worth $1,194,598,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $2,264,615,000. Soundwatch Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $807,713,000. Bank of New York Mellon Corp boosted its position in shares of Thermo Fisher Scientific by 54.7% in the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock valued at $1,732,422,000 after acquiring an additional 1,262,967 shares during the period. EdgePoint Investment Group Inc. grew its stake in shares of Thermo Fisher Scientific by 282.5% in the second quarter. EdgePoint Investment Group Inc. now owns 1,323,065 shares of the medical research company’s stock valued at $536,450,000 after acquiring an additional 977,127 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Thermo Fisher Scientific by 58.2% during the second quarter. The Manufacturers Life Insurance Company now owns 2,293,264 shares of the medical research company’s stock worth $929,828,000 after purchasing an additional 843,267 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the subject of several analyst reports. Robert W. Baird set a $653.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. TD Cowen lowered their target price on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. Citigroup upped their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Evercore reissued an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Insider Transactions at Thermo Fisher Scientific

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

Thermo Fisher Scientific Trading Up 1.7%

TMO opened at $510.28 on Tuesday. The company’s 50-day moving average is $565.80 and its 200 day moving average is $549.24. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm has a market capitalization of $189.56 billion, a PE ratio of 28.76, a P/E/G ratio of 2.89 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is an increase 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 is 9.70%.

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.