Naples Global Advisors LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 866 shares of the medical research company’s stock after purchasing an additional 110 shares during the quarter. Naples Global Advisors LLC’s holdings in Thermo Fisher Scientific were worth $352,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its stake in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after acquiring an additional 988 shares during the period. Revolve Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the period. Apella Capital LLC raised its stake in shares of Thermo Fisher Scientific by 10.5% in the 1st quarter. Apella Capital LLC now owns 600 shares of the medical research company’s stock worth $272,000 after buying an additional 57 shares in the last quarter. Retirement Planning Group LLC boosted its stake in Thermo Fisher Scientific by 41.6% during the first quarter. Retirement Planning Group LLC now owns 640 shares of the medical research company’s stock valued at $318,000 after buying an additional 188 shares in the last quarter. Finally, Breakwater Capital Group grew its holdings in Thermo Fisher Scientific by 47.0% during the first quarter. Breakwater Capital Group now owns 960 shares of the medical research company’s stock worth $478,000 after acquiring an additional 307 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Performance
Shares of TMO stock opened at $543.88 on Friday. The company has a market capitalization of $205.37 billion, a price-to-earnings ratio of 31.46, a P/E/G ratio of 2.85 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $610.97. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The stock’s fifty day simple moving average is $482.58 and its 200-day simple moving average is $447.76.
Thermo Fisher Scientific Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.95%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on TMO. Barclays raised their price objective on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an “overweight” rating in a research report on Thursday. William Blair began coverage on shares of Thermo Fisher Scientific in a research report on Monday, August 18th. They issued an “outperform” rating on the stock. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating for the company in a research report on Thursday, July 24th. Weiss Ratings restated a “hold (c-)” rating on shares of Thermo Fisher Scientific in a report on Saturday, September 27th. Finally, Scotiabank raised Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 target price for the company in a report on Friday, July 11th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $585.37.
Insider Activity
In other news, CAO Joseph R. Holmes sold 385 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $492.63, for a total value of $189,662.55. Following the transaction, the chief accounting officer directly owned 2,319 shares of the company’s stock, valued at approximately $1,142,408.97. This represents a 14.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,066 shares of company stock worth $14,182,963 in the last ninety days. Corporate insiders own 0.33% 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.
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