Gofen & Glossberg LLC IL reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 265,171 shares of the medical research company's stock after selling 1,139 shares during the period. Thermo Fisher Scientific comprises 3.8% of Gofen & Glossberg LLC IL's portfolio, making the stock its 3rd largest holding. Gofen & Glossberg LLC IL's holdings in Thermo Fisher Scientific were worth $144,062,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Thermo Fisher Scientific by 16.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,855 shares of the medical research company's stock worth $30,628,000 after purchasing an additional 7,238 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in shares of Thermo Fisher Scientific by 1,359.7% in the first quarter. Kovitz Investment Group Partners LLC now owns 10,612 shares of the medical research company's stock worth $6,268,000 after purchasing an additional 9,885 shares in the last quarter. Marietta Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 4.3% in the first quarter. Marietta Wealth Management LLC now owns 12,912 shares of the medical research company's stock worth $7,626,000 after purchasing an additional 529 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 708,079 shares of the medical research company's stock worth $472,459,000 after purchasing an additional 4,340 shares in the last quarter. Finally, Kingfisher Capital LLC increased its stake in shares of Thermo Fisher Scientific by 1.6% in the first quarter. Kingfisher Capital LLC now owns 8,200 shares of the medical research company's stock worth $4,843,000 after purchasing an additional 133 shares in the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.
Get Thermo Fisher Scientific alerts:Insider Buying and Selling
In related news, CFO Stephen Williamson sold 12,300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $603.48, for a total transaction of $7,422,804.00. Following the completion of the transaction, the chief financial officer now directly owns 43,944 shares of the company's stock, valued at approximately $26,519,325.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, SVP Michael A. Boxer sold 7,283 shares of Thermo Fisher Scientific 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 in the company, valued at approximately $7,324,738.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Williamson sold 12,300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $603.48, for a total transaction of $7,422,804.00. Following the sale, the chief financial officer now owns 43,944 shares of the company's stock, valued at approximately $26,519,325.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,397 shares of company stock valued at $33,012,754. Company insiders own 0.43% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on TMO. Morgan Stanley increased 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. SVB Leerink upped their target price on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the stock an "outperform" rating in a research report on Friday, July 29th. Credit Suisse Group began coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, August 24th. They set a "neutral" rating and a $675.00 target price for the company. Finally, Barclays dropped their target price on shares of Thermo Fisher Scientific from $685.00 to $595.00 and set an "overweight" rating for the company in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus target price of $655.90.Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO traded down $4.13 on Thursday, reaching $521.56. The company's stock had a trading volume of 37,554 shares, compared to its average volume of 1,055,648. Thermo Fisher Scientific Inc. has a 52-week low of $497.83 and a 52-week high of $672.34. The company has a market cap of $204.34 billion, a P/E ratio of 27.98, a PEG ratio of 1.66 and a beta of 0.85. The company has a 50-day simple moving average of $567.71 and a 200 day simple moving average of $558.31. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.13 and a current ratio of 1.65.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last issued its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 EPS for the quarter, topping 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 business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $9.95 billion. During the same period last year, the company posted $5.60 EPS. The business's revenue was up 18.3% on a year-over-year basis. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Thursday, September 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.23%. Thermo Fisher Scientific's dividend payout ratio is presently 6.39%.
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.
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