Proffitt & Goodson Inc. Has $70,000 Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Proffitt & Goodson Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126 shares of the medical research company’s stock after buying an additional 29 shares during the period. Proffitt & Goodson Inc.’s holdings in Thermo Fisher Scientific were worth $70,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Thermo Fisher Scientific by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after acquiring an additional 117,353 shares in the last quarter. 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 worth $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Thermo Fisher Scientific by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after acquiring an additional 156,675 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after acquiring an additional 123,523 shares in the last quarter. Finally, Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $2,909,524,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded down $6.31 during trading hours on Thursday, hitting $603.86. The company had a trading volume of 1,138,386 shares, compared to its average volume of 1,535,194. 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 has a market capitalization of $230.67 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.81 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30. The firm’s fifty day moving average is $572.85 and its 200 day moving average is $573.13.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 for 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%. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s 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 transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold a total of 33,084 shares of company stock valued at $19,767,092 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TMO shares. Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Barclays cut their target price 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 increased their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, HSBC boosted their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $618.94.

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 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.