Lombard Odier Asset Management USA Corp Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Lombard Odier Asset Management USA Corp acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,068 shares of the medical research company’s stock, valued at approximately $591,000.

Several other hedge funds have also recently added to or reduced their stakes in TMO. Capital World Investors raised its holdings in Thermo Fisher Scientific by 10.0% in the first 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 period. Swedbank AB bought a new position in Thermo Fisher Scientific during the first quarter worth about $705,636,000. Veritas Asset Management LLP raised its position in shares of 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 worth $898,175,000 after purchasing an additional 697,383 shares during the period. Winslow Capital Management LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $333,786,000. Finally, Capital Research Global Investors increased its stake in Thermo Fisher Scientific by 6.9% during the 4th quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after purchasing an additional 517,137 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $613.69 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a market cap of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The business’s 50 day moving average price is $599.56 and its two-hundred day moving average price is $581.38. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the firm posted $5.15 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Analyst Upgrades and Downgrades

TMO has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday. Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, TD Cowen upped their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $647.78.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 over the last three months. Insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.