Polaris Greystone Financial Group LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,296 shares of the medical research company’s stock after selling 4,804 shares during the quarter. Thermo Fisher Scientific comprises 2.0% of Polaris Greystone Financial Group LLC’s investment portfolio, making the stock its 18th biggest holding. Polaris Greystone Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $25,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its stake in Thermo Fisher Scientific by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,706,326 shares of the medical research company’s stock valued at $605,651,000 after purchasing an additional 17,860 shares during the period. CX Institutional acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $36,000. Wiley BROS. Aintree Capital LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $314,000. Abner Herrman & Brock LLC raised its holdings in Thermo Fisher Scientific by 0.7% in the 1st quarter. Abner Herrman & Brock LLC now owns 38,539 shares of the medical research company’s stock valued at $10,549,000 after acquiring an additional 279 shares in the last quarter. Finally, Addenda Capital Inc. raised its holdings in Thermo Fisher Scientific by 5.7% in the 1st quarter. Addenda Capital Inc. now owns 57,162 shares of the medical research company’s stock valued at $15,657,000 after acquiring an additional 3,083 shares in the last quarter. 88.02% of the stock is currently owned by institutional investors.
TMO has been the subject of several recent research reports. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a report on Wednesday, June 12th. Needham & Company LLC increased their target price on Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America reissued a “buy” rating and issued a $300.00 target price (up from $285.00) on shares of Thermo Fisher Scientific in a report on Tuesday, April 16th. UBS Group increased their target price on Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Finally, BTIG Research increased their target price on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average price target of $303.17.
TMO stock traded down $5.06 during midday trading on Monday, reaching $269.76. 99,815 shares of the company’s stock traded hands, compared to its average volume of 1,393,107. The business has a 50-day moving average of $291.36. Thermo Fisher Scientific Inc. has a 1-year low of $208.34 and a 1-year high of $305.45. The stock has a market cap of $109.92 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the firm posted $2.75 EPS. The business’s revenue was up 3.9% on a year-over-year basis. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 12.23 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 6.83%.
In other Thermo Fisher Scientific news, Director C Martin Harris sold 275 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total value of $74,450.75. Following the transaction, the director now directly owns 6,433 shares in the company, valued at approximately $1,741,606.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total value of $14,241,500.00. Following the completion of the transaction, the chief executive officer now owns 342,193 shares in the company, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders sold a total of 52,775 shares of company stock worth $14,986,676 over the last quarter. Corporate insiders own 0.45% of the company’s stock.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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