Vanguard Group Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 31,536,018 shares of the medical research company’s stock after selling 591,318 shares during the quarter. Vanguard Group Inc. owned 0.08% of Thermo Fisher Scientific worth $11,426,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bay Harbor Wealth Management LLC lifted its holdings in Thermo Fisher Scientific by 23.0% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 139 shares of the medical research company’s stock valued at $50,000 after purchasing an additional 26 shares in the last quarter. Engrave Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 20.9% in the second quarter. Engrave Wealth Partners LLC now owns 162 shares of the medical research company’s stock valued at $58,000 after purchasing an additional 28 shares during the last quarter. Koshinski Asset Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.5% in the second quarter. Koshinski Asset Management Inc. now owns 5,299 shares of the medical research company’s stock valued at $1,920,000 after purchasing an additional 28 shares during the last quarter. Blue Chip Wealth Management Inc. lifted its position in Thermo Fisher Scientific by 1.6% during the second quarter. Blue Chip Wealth Management Inc. now owns 1,958 shares of the medical research company’s stock worth $710,000 after buying an additional 30 shares in the last quarter. Finally, Tiedemann Advisors LLC boosted its stake in Thermo Fisher Scientific by 1.4% during the first quarter. Tiedemann Advisors LLC now owns 2,169 shares of the medical research company’s stock worth $616,000 after buying an additional 31 shares during the last quarter. 88.12% of the stock is owned by hedge funds and other institutional investors.
TMO has been the topic of several analyst reports. UBS Group lifted their price target on Thermo Fisher Scientific from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Needham & Company LLC initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, August 13th. They set a “buy” rating and a $468.00 target price on the stock. BTIG Research increased their price target on shares of Thermo Fisher Scientific from $372.00 to $475.00 and gave the company a “buy” rating in a research note on Thursday, July 23rd. Argus raised their price target on shares of Thermo Fisher Scientific from $370.00 to $450.00 in a report on Monday, July 27th. Finally, Cleveland Research upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $438.33.
In other news, COO Mark Stevenson sold 25,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 24th. The shares were sold at an average price of $404.58, for a total transaction of $10,114,500.00. Following the completion of the sale, the chief operating officer now directly owns 73,621 shares of the company’s stock, valued at approximately $29,785,584.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Peter E. Hornstra sold 3,337 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $418.82, for a total transaction of $1,397,602.34. Following the transaction, the chief accounting officer now owns 19,862 shares of the company’s stock, valued at approximately $8,318,602.84. The disclosure for this sale can be found here. Insiders sold 173,868 shares of company stock valued at $71,253,379 in the last 90 days. Company insiders own 0.44% of the company’s stock.
Shares of TMO traded down $9.69 during midday trading on Friday, hitting $409.98. 2,188,537 shares of the stock were exchanged, compared to its average volume of 1,249,669. Thermo Fisher Scientific Inc. has a 52-week low of $250.21 and a 52-week high of $441.96. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.02 and a current ratio of 2.62. The stock has a fifty day simple moving average of $414.95 and a 200 day simple moving average of $350.81. The firm has a market cap of $162.18 billion, a P/E ratio of 30.78, a P/E/G ratio of 1.80 and a beta of 1.01.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.67 by $1.22. The firm had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.91 billion. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. During the same quarter in the prior year, the company earned $3.04 EPS. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 15.19 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 0.21%. The ex-dividend date is Monday, September 14th. Thermo Fisher Scientific’s payout ratio is 7.13%.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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