Sterling Investment Management LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,058 shares of the medical research company’s stock, valued at approximately $1,074,000.
Several other institutional investors have also recently made changes to their positions in TMO. Moneta Group Investment Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 104,536.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock worth $4,601,150,000 after purchasing an additional 8,347,260 shares during the period. Providence Capital Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 61,754.7% in the 1st quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after purchasing an additional 5,832,730 shares in the last quarter. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $3,105,677,000. Polen Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $1,208,055,000. Finally, Morgan Stanley increased its stake in shares of Thermo Fisher Scientific by 17.7% in the 4th quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock worth $6,459,629,000 after purchasing an additional 1,764,312 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on TMO shares. Citigroup started coverage on Thermo Fisher Scientific in a research note on Wednesday, September 6th. They set a “buy” rating and a $625.00 price objective for the company. Barclays lifted their target price on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research note on Thursday, July 27th. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the company an “underweight” rating in a research note on Friday, July 28th. Finally, Raymond James lifted their target price on Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.71.
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock traded down $3.31 during midday trading on Tuesday, reaching $504.42. 280,929 shares of the stock traded hands, compared to its average volume of 1,493,186. The stock has a market cap of $194.68 billion, a P/E ratio of 34.72, a PEG ratio of 2.43 and a beta of 0.77. The stock’s fifty day moving average is $540.37 and its 200-day moving average is $541.53. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $609.85.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). The business had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. Thermo Fisher Scientific’s revenue for the quarter was down 2.6% compared to the same quarter last year. During the same period in the previous year, the company earned $5.51 EPS. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current year.
Thermo Fisher Scientific Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.40 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 9.57%.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $550.60, for a total transaction of $880,960.00. Following the sale, the chief executive officer now directly owns 135,330 shares of the company’s stock, valued at $74,512,698. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $550.60, for a total value of $880,960.00. Following the completion of the sale, the chief executive officer now owns 135,330 shares of the company’s stock, valued at $74,512,698. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $549.00, for a total value of $5,490,000.00. Following the transaction, the chief executive officer now directly owns 141,330 shares in the company, valued at approximately $77,590,170. The disclosure for this sale can be found here. Insiders have sold 28,700 shares of company stock valued at $15,799,270 over the last ninety days. 0.32% of the stock is owned by insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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