Premier Asset Management LLC Has $7.87 Million Position in Thermo Fisher Scientific Inc (TMO)

Premier Asset Management LLC cut its holdings in Thermo Fisher Scientific Inc (NYSE:TMO) by 44.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,123 shares of the medical research company’s stock after selling 35,712 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.8% of Premier Asset Management LLC’s holdings, making the stock its 28th largest position. Premier Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $7,872,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC raised its stake in Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after buying an additional 253 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $108,000. Cribstone Capital Management LLC raised its stake in Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after buying an additional 50 shares during the last quarter. Sharkey Howes & Javer raised its stake in Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after buying an additional 7 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $113,000. 83.36% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Thermo Fisher Scientific Inc (NYSE TMO) opened at 188.30 on Friday. The firm has a 50-day moving average price of $181.07 and a 200-day moving average price of $171.15. Thermo Fisher Scientific Inc has a 52 week low of $139.07 and a 52 week high of $194.30. The stock has a market cap of $73.46 billion, a price-to-earnings ratio of 32.80 and a beta of 1.05.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same quarter in the previous year, the company earned $2.03 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc will post $9.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be issued a $0.15 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.32%. Thermo Fisher Scientific’s payout ratio is 10.45%.

In other news, VP Seth H. Hoogasian sold 4,140 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $177.80, for a total transaction of $736,092.00. Following the completion of the sale, the vice president now owns 25,518 shares of the company’s stock, valued at $4,537,100.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter E. Hornstra sold 3,894 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $185.18, for a total transaction of $721,090.92. Following the sale, the vice president now directly owns 19,751 shares of the company’s stock, valued at approximately $3,657,490.18. The disclosure for this sale can be found here. Insiders sold 52,738 shares of company stock valued at $9,302,112 in the last ninety days. 0.49% of the stock is owned by corporate insiders.

A number of brokerages have weighed in on TMO. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $208.00 target price for the company in a research note on Thursday, September 7th. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Argus reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, August 22nd. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and set a $220.00 target price on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. Finally, BidaskClub lowered shares of Thermo Fisher Scientific from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. One research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $194.33.

Thermo Fisher Scientific 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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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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