Arthur M. Cohen & Associates LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,671 shares of the medical research company's stock after selling 197 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.4% of Arthur M. Cohen & Associates LLC's investment portfolio, making the stock its 16th largest holding. Arthur M. Cohen & Associates LLC's holdings in Thermo Fisher Scientific were worth $5,797,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Veriti Management LLC raised its holdings in Thermo Fisher Scientific by 14.6% in the second quarter. Veriti Management LLC now owns 2,419 shares of the medical research company's stock worth $1,314,000 after purchasing an additional 309 shares in the last quarter. Western Wealth Management LLC grew its position in Thermo Fisher Scientific by 4.1% during the 2nd quarter. Western Wealth Management LLC now owns 5,485 shares of the medical research company's stock worth $2,986,000 after purchasing an additional 214 shares during the last quarter. Kaizen Financial Strategies increased its stake in Thermo Fisher Scientific by 18.6% during the 2nd quarter. Kaizen Financial Strategies now owns 818 shares of the medical research company's stock valued at $444,000 after purchasing an additional 128 shares in the last quarter. ARS Investment Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 1.3% in the second quarter. ARS Investment Partners LLC now owns 3,237 shares of the medical research company's stock worth $1,759,000 after buying an additional 40 shares during the last quarter. Finally, Kensington Investment Counsel LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $985,000. 86.50% of the stock is currently owned by institutional investors.
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Insider Buying and Selling at Thermo Fisher Scientific
In other news, SVP Michael A. Boxer sold 7,283 shares of the business's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $590.80, for a total transaction of $4,302,796.40. Following the completion of the sale, the senior vice president now owns 12,398 shares of the company's stock, valued at $7,324,738.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael A. Boxer sold 7,283 shares of the business's stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $590.80, for a total transaction of $4,302,796.40. Following the transaction, the senior vice president now directly owns 12,398 shares in the company, valued at $7,324,738.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jim P. Manzi sold 814 shares of the business's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $597.24, for a total transaction of $486,153.36. Following the transaction, the director now owns 15,807 shares in the company, valued at $9,440,572.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,397 shares of company stock valued at $33,012,754. Corporate insiders own 0.43% of the company's stock.
Thermo Fisher Scientific Trading Up 0.1 %
NYSE TMO opened at $520.79 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $497.83 and a 1 year high of $672.34. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.13. The company has a fifty day moving average of $567.24 and a 200 day moving average of $558.30. The company has a market capitalization of $204.04 billion, a PE ratio of 27.72, a P/E/G ratio of 1.62 and a beta of 0.85.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 earnings per share for the quarter, beating analysts' consensus estimates of $4.92 by $0.59. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. The company had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same quarter in the previous year, the company earned $5.60 earnings per share. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Research analysts forecast that Thermo Fisher Scientific Inc. will post 22.92 earnings per share for the current year.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.23%. Thermo Fisher Scientific's payout ratio is 6.39%.
Analysts Set New Price Targets
TMO has been the subject of several research reports. SVB Leerink lifted their price objective on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the stock an "outperform" rating in a research note on Friday, July 29th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $685.00 to $595.00 and set an "overweight" rating for the company in a research note on Monday, September 12th. Credit Suisse Group initiated coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, August 24th. They set a "neutral" rating and a $675.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $670.00 to $678.00 and gave the stock an "overweight" rating in a research note on Friday, July 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $656.56.
Thermo Fisher Scientific Profile
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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
Further Reading
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