Cobiz Wealth LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,444 shares of the medical research company’s stock after selling 1,292 shares during the quarter. Cobiz Wealth LLC’s holdings in Thermo Fisher Scientific were worth $6,298,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in Thermo Fisher Scientific by 4.4% during the first quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after buying an additional 393 shares in the last quarter. Barrett Asset Management LLC boosted its stake in Thermo Fisher Scientific by 0.4% during the first quarter. Barrett Asset Management LLC now owns 111,500 shares of the medical research company’s stock worth $30,520,000 after buying an additional 395 shares in the last quarter. CX Institutional acquired a new stake in Thermo Fisher Scientific during the first quarter worth $36,000. Highstreet Asset Management Inc. acquired a new stake in Thermo Fisher Scientific during the first quarter worth $381,000. Finally, Buckingham Asset Management LLC boosted its stake in Thermo Fisher Scientific by 6.9% during the first quarter. Buckingham Asset Management LLC now owns 2,106 shares of the medical research company’s stock worth $576,000 after buying an additional 136 shares in the last quarter. 88.02% of the stock is currently owned by institutional investors.
Shares of NYSE:TMO traded up $1.89 on Tuesday, hitting $293.62. The stock had a trading volume of 877,248 shares, compared to its average volume of 1,592,038. Thermo Fisher Scientific Inc. has a twelve month low of $208.34 and a twelve month high of $305.45. The company has a quick ratio of 1.16, a current ratio of 1.69 and a debt-to-equity ratio of 0.61. The company has a 50 day moving average of $290.49. The company has a market cap of $116.93 billion, a P/E ratio of 26.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 24th. The medical research company reported $2.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. The company had revenue of $6.13 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 12.2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
In related news, CEO Marc N. Casper sold 50,713 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total value of $13,855,298.73. Following the completion of the transaction, the chief executive officer now directly owns 302,193 shares of the company’s stock, valued at $82,562,149.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $268.29, for a total value of $670,725.00. Following the completion of the transaction, the chief financial officer now directly owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The disclosure for this sale can be found here. Insiders sold a total of 53,488 shares of company stock worth $14,600,474 in the last 90 days. 0.45% of the stock is owned by corporate insiders.
A number of research firms have weighed in on TMO. Zacks Investment Research upgraded shares of Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 price target on the stock in a research note on Wednesday, June 12th. BTIG Research lifted their price target on shares of Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Bank of America downgraded shares of Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Wolfe Research began coverage on shares of Waters in a research note on Thursday, May 30th. They set an “underperform” rating on the stock. Finally, UBS Group downgraded shares of AGL Energy to a “sell” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $298.23.
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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