Gradient Investments LLC grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 348.5% during the second quarter, HoldingsChannel reports. The institutional investor owned 3,902 shares of the medical research company’s stock after buying an additional 3,032 shares during the period. Gradient Investments LLC’s holdings in Thermo Fisher Scientific were worth $1,146,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in TMO. Truvestments Capital LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at $29,000. Capital Financial Planning LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $27,000. CX Institutional bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at $36,000. Liberty Wealth Management LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $35,000. Finally, Somerset Trust Co boosted its position in Thermo Fisher Scientific by 162.7% during the 1st quarter. Somerset Trust Co now owns 197 shares of the medical research company’s stock valued at $54,000 after acquiring an additional 122 shares in the last quarter. 88.02% of the stock is currently owned by hedge funds and other institutional investors.
TMO stock traded down $4.00 during midday trading on Friday, reaching $286.59. The stock had a trading volume of 14,269 shares, compared to its average volume of 1,454,516. The firm has a market cap of $115.34 billion, a PE ratio of 25.81, a PEG ratio of 1.89 and a beta of 1.10. The company has a current ratio of 1.49, a quick ratio of 1.16 and a debt-to-equity ratio of 0.58. The firm has a fifty day simple moving average of $291.17. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45.
Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.03. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $2.75 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 12.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is currently 6.83%.
In other news, Director C Martin Harris sold 275 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total transaction of $74,450.75. Following the sale, the director now directly owns 6,433 shares in the company, valued at approximately $1,741,606.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 50,713 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $273.21, for a total value of $13,855,298.73. Following the sale, the chief executive officer now owns 302,193 shares in the company, valued at $82,562,149.53. The disclosure for this sale can be found here. Insiders have sold a total of 53,488 shares of company stock valued at $14,600,474 in the last quarter. Company insiders own 0.45% of the company’s stock.
Several analysts have recently commented on TMO shares. BTIG Research increased their price objective on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. UBS Group lowered AGL Energy to a “sell” rating in a report on Thursday, May 23rd. Needham & Company LLC increased their price objective on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research started coverage on Waters in a report on Thursday, May 30th. They set an “underperform” rating for the company. Finally, Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $298.69.
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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