Swedish Life Insurance Company Reduces Stake in Thermo Fisher Scientific as Analyst Reports Drive Market Evaluation
On September 15, 2023, it was reported that the Swedish life insurance company, Livforsakringsbolaget Skandia Omsesidigt, reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.6% during the second quarter of the year. According to the company’s recent 13F filing with the Securities and Exchange Commission (SEC), they sold 200 shares, leaving them with a total of 2,437 shares in the medical research company. The value of Livforsakringsbolaget Skandia Omsesidigt’s holdings in Thermo Fisher Scientific amounted to $1,271,000 as of their most recent filing with the SEC.
Thermo Fisher Scientific has recently been the subject of several analyst reports. One such report came from Royal Bank of Canada, which adjusted their price target for Thermo Fisher Scientific from $662.00 to $698.00 on July 27th. In another report by Wells Fargo & Company on July 28th, they raised their target price from $505.00 to $520.00 and rated the stock as “underweight.” Credit Suisse Group also upgraded Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a target price of $620.00 on July 13th. Furthermore, Barclays increased their target price for Thermo Fisher Scientific from $590.00 to $625.00 on July 27th and rated the stock as “overweight.” Lastly, Raymond James adjusted their target price for Thermo Fisher Scientific from $595.00 to $630.00 on July 28th and gave it an “outperform” rating.
Overall, one investment analyst has issued a sell rating for Thermo Fisher Scientific’s stock while two have assigned a hold rating and eleven have given it a buy rating. According to Bloomberg, the consensus rating for Thermo Fisher Scientific is “Moderate Buy” with an average target price of $631.71.
As of Friday, Thermo Fisher Scientific stock opened at $515.64. The company has had a 52-week low of $475.77 and a 52-week high of $609.85. It currently has a 50-day simple moving average of $540.37 and a 200-day simple moving average of $541.88. Thermo Fisher Scientific boasts a quick ratio of 1.02, a current ratio of 1.42, and a debt-to-equity ratio of 0.67. With a market capitalization of $199.01 billion, the stock has a price-to-earnings ratio of 35.25, a PEG ratio of 2.41, and a beta value of 0.77.
In conclusion, Livforsakringsbolaget Skandia Omsesidigt has reduced its position in Thermo Fisher Scientific, selling 200 shares during the second quarter which leaves them with a total holding worth $1,271,000 as per their latest SEC filing report on September 15, 2023. Thermo Fisher Scientific’s recent analyst reports have resulted in adjustments to its price targets and ratings by various institutions in the industry.These factors contribute to the intricate landscape surrounding Thermo Fisher Scientific’s position in the market today.
Thermo Fisher Scientific Inc.
TMO
Strong Buy
Updated on: 16/09/2023
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Thermo Fisher Scientific Shows Promising Growth and Investor Interest in the Medical Research Sector
Thermo Fisher Scientific, a leading medical research company, has seen an increase in holdings from hedge funds and institutional investors. Savant Capital LLC and Connecticut Wealth Management LLC both raised their holdings by 0.5% and 3.0%, respectively, with additional purchases of 18 shares each. Similarly, Sage Rhino Capital LLC saw a 2.6% increase in its holdings, followed by 1776 Wealth LLC with a 2.4% increase, and Crumly & Associates Inc. with a 1.5% increase.
Interestingly, it is the institutional investors and hedge funds that own the majority of Thermo Fisher Scientific’s stock at a staggering rate of 87.06%. This statistic speaks to the confidence these entities have in the company and its potential for growth.
In other news regarding Thermo Fisher Scientific, significant insider trading has occurred involving executive vice president Gianluca Pettiti and chief financial officer Stephen Williamson. Pettiti sold 3,000 shares of Thermo Fisher Scientific stock on August 30th at an average price of $557.77 per share, totaling $1,673,310.00. Following this transaction, Pettiti now owns 17,556 shares valued at $9,792,210.12.
Likewise, CFO Stephen Williamson sold 14,100 shares on August 1st at an average price of $550 per share for a total sum of $7,755,000.00. After this sale was completed, Williamson retained ownership of 27,393 shares valued at $15,066,150.
The disclosure for these transactions can be found on the Securities and Exchange Commission (SEC) website.
Analysts have been closely monitoring Thermo Fisher Scientific’s performance as well. Royal Bank of Canada increased its price target on the stock from $662 to $698 in their report released on July 27th.
Meanwhile,Wells Fargo & Company raised their target price from $505 to $520, issuing an “underweight” rating on the stock. Credit Suisse Group upgraded Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620 target price.
Barclays also upped its target price from $590 to $625 and classified the stock as “overweight.” Finally, Raymond James increased its target price from $595 to $630 and assigned Thermo Fisher Scientific an “outperform” rating.
According to Bloomberg, the consensus among analysts is that Thermo Fisher Scientific has a moderate buy rating with a consensus target price of $631.71.
In terms of financial performance, Thermo Fisher Scientific announced its earnings results on July 26th. The company reported an EPS of $5.15 for the quarter, falling short of the consensus estimate of $5.43 by 28 cents. Despite this slight miss, the business experienced a return on equity of 18.59% and a net margin of 13.14%. However, there was a decrease in revenue, which amounted to $10.69 billion for the quarter compared to analysts’ expectations of $10.99 billion.
Looking ahead, research analysts anticipate that Thermo Fisher Scientific Inc. will post earnings per share of 22.37 for the current fiscal year.
Moreover,Thermo Fisher Scientific declared its quarterly dividend recently, stating that it will be paid out on October 13th. Investors who held shares as of September 15th will receive a dividend of $0.35 per share. This translates to an annualized dividend of $1.40 and a yield of 0.27%. The ex-dividend date has been set for September 14th.
Overall, considering all these developments surrounding Thermo Fisher Scientific in recent months – from increased holdings by institutional investors and hedge funds to significant insider trading transactions and analyst ratings – it is evident that there is a notable interest in the company’s prospects. Investors and analysts alike continue to closely monitor Thermo Fisher Scientific as it navigates the ever-evolving landscape of the medical research industry.
