New South Capital Management Inc. Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

New South Capital Management Inc. lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 158,596 shares of the medical research company’s stock after selling 530 shares during the quarter. Thermo Fisher Scientific comprises approximately 3.9% of New South Capital Management Inc.’s investment portfolio, making the stock its 6th largest position. New South Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $87,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Beaumont Financial Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 14.5% during the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares during the period. Lafayette Investments Inc. lifted its stake in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. lifted its stake in shares of Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the period. Finally, Drive Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after acquiring an additional 18 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. In the last three months, insiders sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TMO. TD Cowen boosted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $630.41.

Thermo Fisher Scientific Stock Up 0.7 %

Shares of NYSE:TMO opened at $611.33 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30. The firm has a market cap of $233.35 billion, a P/E ratio of 39.21, a P/E/G ratio of 2.85 and a beta of 0.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The company’s 50-day moving average price is $584.07 and its two-hundred day moving average price is $578.20.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations 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 was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.15 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given 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 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Thermo Fisher Scientific Profile

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.