Profund Advisors LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,808 shares of the medical research company’s stock after selling 3,166 shares during the quarter. Profund Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of TMO. Massey Quick Simon & CO. LLC bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at approximately $30,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $31,000. Capital Advisors Ltd. LLC grew its stake in shares of Thermo Fisher Scientific by 250.0% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 140 shares of the medical research company’s stock worth $41,000 after buying an additional 100 shares during the last quarter. MRA Associates USA LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at approximately $43,000. Finally, Focused Wealth Management Inc bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at approximately $44,000. 88.19% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jim P. Manzi sold 1,833 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total value of $500,280.69. Following the completion of the transaction, the director now owns 28,592 shares in the company, valued at approximately $7,803,614.56. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.
Shares of TMO stock traded up $0.96 during trading hours on Friday, hitting $295.94. The company had a trading volume of 454,786 shares, compared to its average volume of 1,402,373. The company’s fifty day moving average is $280.90 and its 200 day moving average is $276.38. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07. Thermo Fisher Scientific Inc. has a fifty-two week low of $208.34 and a fifty-two week high of $305.45. The stock has a market capitalization of $115.94 billion, a PE ratio of 26.61, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.03. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.75 earnings per share. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s payout ratio is 6.83%.
Several research firms have recently weighed in on TMO. Credit Suisse Group reissued a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. BTIG Research increased their price target on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Wolfe Research began coverage on Thermo Fisher Scientific in a research note on Thursday, May 30th. They issued an “outperform” rating for the company. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, UBS Group raised their price objective on Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average target price of $303.17.
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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