Alta Capital Management LLC reduced its holdings in Thermo Fisher Scientific Inc (NYSE:TMO) by 0.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 223,596 shares of the medical research company’s stock after selling 771 shares during the quarter. Thermo Fisher Scientific makes up 2.6% of Alta Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Alta Capital Management LLC owned approximately 0.06% of Thermo Fisher Scientific worth $39,010,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in TMO. BlackRock Inc. increased its stake in Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock valued at $3,531,095,000 after purchasing an additional 22,165,530 shares during the last quarter. C WorldWide Group Holding A S increased its stake in Thermo Fisher Scientific by 997.1% in the first quarter. C WorldWide Group Holding A S now owns 1,950,049 shares of the medical research company’s stock valued at $299,527,000 after purchasing an additional 1,772,300 shares during the last quarter. Veritas Asset Management LLP acquired a new position in Thermo Fisher Scientific in the first quarter valued at $175,795,000. Vanguard Group Inc. grew its position in Thermo Fisher Scientific by 2.7% during the first quarter. Vanguard Group Inc. now owns 25,971,301 shares of the medical research company’s stock valued at $3,989,193,000 after acquiring an additional 695,079 shares during the period. Finally, Renaissance Technologies LLC grew its position in Thermo Fisher Scientific by 68.8% during the first quarter. Renaissance Technologies LLC now owns 1,373,044 shares of the medical research company’s stock valued at $210,900,000 after acquiring an additional 559,400 shares during the period. Hedge funds and other institutional investors own 83.52% of the company’s stock.
Shares of Thermo Fisher Scientific Inc (TMO) opened at 191.47 on Thursday. Thermo Fisher Scientific Inc has a 52 week low of $139.07 and a 52 week high of $194.30. The firm’s 50-day moving average price is $178.97 and its 200 day moving average price is $169.99. The firm has a market cap of $74.70 billion, a PE ratio of 33.36 and a beta of 1.05.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc will post $9.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s payout ratio is 10.45%.
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A number of equities research analysts have issued reports on the company. Zacks Investment Research downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Tuesday. Cowen and Company reissued an “outperform” rating and set a $220.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research report on Sunday. Deutsche Bank AG set a $200.00 price target on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Saturday, June 10th. BidaskClub downgraded Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Barclays PLC reissued an “overweight” rating and set a $200.00 price target (up previously from $190.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $193.19.
In other news, Director Jim P. Manzi sold 11,318 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the completion of the transaction, the director now owns 38,757 shares of the company’s stock, valued at $6,702,635.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim P. Manzi sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $175.20, for a total transaction of $175,200.00. Following the transaction, the director now directly owns 38,757 shares of the company’s stock, valued at approximately $6,790,226.40. The disclosure for this sale can be found here. In the last three months, insiders sold 22,738 shares of company stock valued at $4,021,512. 0.49% of the stock is owned by insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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