Cleararc Capital Inc. reduced its position in Thermo Fisher Scientific Inc (NYSE:TMO) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,823 shares of the medical research company’s stock after selling 60 shares during the period. Cleararc Capital Inc.’s holdings in Thermo Fisher Scientific were worth $1,355,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in TMO. Princeton Portfolio Strategies Group LLC boosted its stake in Thermo Fisher Scientific by 1.6% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 36,835 shares of the medical research company’s stock worth $5,658,000 after buying an additional 575 shares during the period. Pictet North America Advisors SA bought a new stake in Thermo Fisher Scientific during the first quarter worth approximately $264,000. Pictet & Cie Europe SA boosted its stake in Thermo Fisher Scientific by 1.8% in the first quarter. Pictet & Cie Europe SA now owns 88,003 shares of the medical research company’s stock worth $13,517,000 after buying an additional 1,550 shares during the period. L & S Advisors Inc boosted its stake in Thermo Fisher Scientific by 126.5% in the first quarter. L & S Advisors Inc now owns 3,670 shares of the medical research company’s stock worth $564,000 after buying an additional 2,050 shares during the period. Finally, Ngam Advisors L.P. boosted its stake in Thermo Fisher Scientific by 10.7% in the first quarter. Ngam Advisors L.P. now owns 169,121 shares of the medical research company’s stock worth $25,977,000 after buying an additional 16,322 shares during the period. Institutional investors own 86.99% of the company’s stock.
Thermo Fisher Scientific Inc (NYSE TMO) traded up 0.34% during trading on Friday, hitting $176.33. 752,054 shares of the stock traded hands. The firm’s 50-day moving average is $176.88 and its 200-day moving average is $164.14. The stock has a market cap of $68.77 billion, a P/E ratio of 30.72 and a beta of 1.06. Thermo Fisher Scientific Inc has a 12 month low of $139.07 and a 12 month high of $182.87.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.03 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc will post $9.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.
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A number of research firms recently commented on TMO. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $197.00 target price for the company in a research note on Tuesday. BidaskClub cut shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Bank of America Corporation reiterated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Finally, Barclays PLC reiterated an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 17th. One analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $188.56.
In other news, insider Daniel P. Shine sold 4,688 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the completion of the sale, the insider now owns 29,200 shares in the company, valued at $5,018,896. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $176.26, for a total value of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares of the company’s stock, valued at approximately $6,660,865.40. The disclosure for this sale can be found here. Insiders have sold 27,188 shares of company stock valued at $4,702,223 in the last 90 days. Company insiders own 0.49% of the company’s stock.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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