DNB Asset Management AS trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,911 shares of the medical research company’s stock after selling 3,439 shares during the quarter. DNB Asset Management AS’s holdings in Thermo Fisher Scientific were worth $28,167,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Capital Financial Planning LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $27,000. Truvestments Capital LLC bought a new position in Thermo Fisher Scientific in the first quarter valued at approximately $29,000. Liberty Wealth Management LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $35,000. CX Institutional bought a new position in Thermo Fisher Scientific in the first quarter valued at approximately $36,000. Finally, Somerset Trust Co grew its stake in Thermo Fisher Scientific by 162.7% in the first quarter. Somerset Trust Co now owns 197 shares of the medical research company’s stock valued at $54,000 after purchasing an additional 122 shares in the last quarter. Hedge funds and other institutional investors own 88.02% of the company’s stock.
Several research analysts have recently commented on the company. BTIG Research lifted their target price on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. UBS Group downgraded AGL Energy to a “sell” rating in a research note on Thursday, May 23rd. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $270.00 to $288.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 26th. Needham & Company LLC downgraded Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating and set a $315.00 target price for the company. in a research note on Tuesday, July 16th. They noted that the move was a valuation call. Finally, Bank of America downgraded Propetro from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average target price of $298.23.
NYSE:TMO traded up $1.89 during mid-day trading on Tuesday, hitting $293.62. 877,248 shares of the stock were exchanged, compared to its average volume of 1,592,038. The stock has a market cap of $116.93 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 1.90 and a beta of 1.10. The stock’s 50-day moving average price is $290.49. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.69 and a quick ratio of 1.16. Thermo Fisher Scientific Inc. has a fifty-two week low of $208.34 and a fifty-two week high of $305.45.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.07. The business had revenue of $6.13 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $2.50 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 12.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 6.83%.
In related news, CEO Marc N. Casper sold 50,713 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $273.21, for a total transaction of $13,855,298.73. Following the completion of the sale, the chief executive officer now directly owns 302,193 shares of the company’s stock, valued at approximately $82,562,149.53. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $268.29, for a total value of $670,725.00. Following the sale, 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. Over the last three months, insiders have sold 53,488 shares of company stock valued at $14,600,474. 0.45% of the stock is currently owned by insiders.
Thermo Fisher Scientific Company 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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