DAVENPORT & Co LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.2% during the second quarter, Holdings Channel.com reports. The fund owned 2,783 shares of the medical research company’s stock after selling 152 shares during the quarter. DAVENPORT & Co LLC’s holdings in Thermo Fisher Scientific were worth $1,008,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in TMO. Laurel Wealth Advisors LLC increased its holdings in Thermo Fisher Scientific by 104.3% in the 1st quarter. Laurel Wealth Advisors LLC now owns 94 shares of the medical research company’s stock valued at $27,000 after buying an additional 48 shares during the period. Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $28,000. Ballast Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $35,000. Investors Research Corp boosted its stake in shares of Thermo Fisher Scientific by 100.0% in the 2nd quarter. Investors Research Corp now owns 120 shares of the medical research company’s stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. Finally, Liberty One Investment Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $41,000. 87.51% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on TMO. Citigroup lifted their target price on shares of Thermo Fisher Scientific from $390.00 to $471.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Argus lifted their target price on shares of Thermo Fisher Scientific from $370.00 to $450.00 in a research report on Monday, July 27th. Needham & Company LLC boosted their price target on shares of Thermo Fisher Scientific from $415.00 to $468.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. BTIG Research boosted their price target on shares of Thermo Fisher Scientific from $372.00 to $475.00 and gave the stock a “buy” rating in a research report on Thursday, July 23rd. Finally, Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $420.50.
NYSE:TMO opened at $413.95 on Friday. The company has a fifty day moving average of $373.97 and a 200-day moving average of $335.37. The firm has a market capitalization of $163.49 billion, a P/E ratio of 44.80, a P/E/G ratio of 1.82 and a beta of 1.04. The company has a quick ratio of 2.02, a current ratio of 2.62 and a debt-to-equity ratio of 0.69. Thermo Fisher Scientific Inc. has a twelve month low of $250.21 and a twelve month high of $420.99.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share for the quarter, beating the consensus estimate of $2.67 by $1.22. The company had revenue of $6.92 billion during the quarter, compared to analyst estimates of $6.91 billion. Thermo Fisher Scientific had a net margin of 14.12% and a return on equity of 18.18%. During the same quarter in the previous year, the business posted $3.04 EPS. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 14.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.22 per share. The ex-dividend date is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 0.21%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 7.13%.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 3,218 shares of the business’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $402.38, for a total transaction of $1,294,858.84. Following the completion of the sale, the director now owns 21,803 shares in the company, valued at approximately $8,773,091.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Syed A. Jafry sold 20,513 shares of the business’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $414.94, for a total transaction of $8,511,664.22. Following the sale, the vice president now owns 26,657 shares of the company’s stock, valued at approximately $11,061,055.58. The disclosure for this sale can be found here. Insiders have sold a total of 171,031 shares of company stock valued at $67,284,857 in the last 90 days. 0.44% of the stock is currently owned by company insiders.
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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