Tocqueville Asset Management L.P. Sells 12,064 Shares of Thermo Fisher Scientific Inc. $TMO

Tocqueville Asset Management L.P. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.4% during the third quarter, Holdings Channel.com reports. The firm owned 85,045 shares of the medical research company’s stock after selling 12,064 shares during the period. Tocqueville Asset Management L.P.’s holdings in Thermo Fisher Scientific were worth $41,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highline Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 126.9% in the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after acquiring an additional 33 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $31,000. Capital A Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after purchasing an additional 66 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Finally, Howard Hughes Medical Institute acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $33,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $3.43 on Friday, reaching $472.46. 422,081 shares of the company’s stock traded hands, compared to its average volume of 2,437,779. The stock’s 50 day simple moving average is $560.39 and its two-hundred day simple moving average is $548.36. The stock has a market cap of $175.51 billion, a PE ratio of 26.64, a PEG ratio of 2.86 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. During the same quarter in the previous year, the firm earned $6.10 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. On average, analysts forecast 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. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.70%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. UBS Group reiterated a “neutral” rating and set a $615.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Finally, KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research note on Sunday, December 7th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Activity

In other news, CEO Marc N. Casper sold 5,000 shares of the firm’s 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 completion of the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This trade 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 company’s stock in a transaction that occurred on Monday, February 9th. The shares were 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 approximately $11,230,982.40. The trade was a 1.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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.