NORTHSTAR ASSET MANAGEMENT Co LLC Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

NORTHSTAR ASSET MANAGEMENT Co LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,621 shares of the medical research company’s stock after selling 85 shares during the quarter. Thermo Fisher Scientific comprises 2.9% of NORTHSTAR ASSET MANAGEMENT Co LLC’s investment portfolio, making the stock its 7th biggest holding. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Thermo Fisher Scientific were worth $11,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in TMO. Norges Bank bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $2,909,524,000. Capital World Investors lifted its position in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new position in Thermo Fisher Scientific in the 1st quarter valued at about $705,636,000. Veritas Asset Management LLP lifted its position in Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $333,786,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold a total of 33,084 shares of company stock valued at $19,767,092 in the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded up $0.29 during mid-day trading on Friday, reaching $603.98. The company’s stock had a trading volume of 1,076,197 shares, compared to its average volume of 1,714,754. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $622.30. The company has a market capitalization of $230.72 billion, a P/E ratio of 38.74, a PEG ratio of 2.80 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The firm’s fifty day moving average price is $570.86 and its two-hundred day moving average price is $571.81.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same period last year, the firm earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analyst Upgrades and Downgrades

Several research firms have commented on TMO. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, HSBC raised their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $618.94.

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.