Carret Asset Management LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Carret Asset Management LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,787 shares of the medical research company’s stock after selling 20 shares during the period. Carret Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $4,306,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Signature Resources Capital Management LLC boosted its position in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $29,000. True Wealth Design LLC boosted its position in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at approximately $29,000. Finally, Stephens Consulting LLC grew its stake in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Up 0.6 %

Shares of Thermo Fisher Scientific stock traded up $3.39 on Monday, hitting $615.07. 1,058,900 shares of the company traded hands, compared to its average volume of 1,507,780. The stock’s 50 day moving average price is $578.71 and its 200-day moving average price is $576.22. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $622.30. The company has a market cap of $234.78 billion, a PE ratio of 39.45, a PEG ratio of 2.86 and a beta of 0.77.

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

Thermo Fisher Scientific Announces Dividend

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TMO shares. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays decreased their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Robert W. Baird raised their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.41.

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.