Allworth Financial LP increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 25.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,204 shares of the medical research company's stock after acquiring an additional 444 shares during the period. Allworth Financial LP's holdings in Thermo Fisher Scientific were worth $1,197,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of TMO. Norges Bank purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $2,784,029,000. BlackRock Inc. increased its stake in Thermo Fisher Scientific by 3.8% in the 4th quarter. BlackRock Inc. now owns 30,982,611 shares of the medical research company's stock worth $20,672,838,000 after purchasing an additional 1,143,333 shares in the last quarter. Parnassus Investments LLC purchased a new position in Thermo Fisher Scientific in the 1st quarter worth about $552,948,000. Marshall Wace LLP increased its stake in Thermo Fisher Scientific by 146.4% in the 4th quarter. Marshall Wace LLP now owns 1,043,844 shares of the medical research company's stock worth $696,497,000 after purchasing an additional 620,291 shares in the last quarter. Finally, State Street Corp increased its stake in Thermo Fisher Scientific by 3.4% in the 4th quarter. State Street Corp now owns 16,223,173 shares of the medical research company's stock worth $10,828,875,000 after purchasing an additional 529,712 shares in the last quarter. Hedge funds and other institutional investors own 86.50% of the company's stock.
Get Thermo Fisher Scientific alerts:Wall Street Analysts Forecast Growth
TMO has been the subject of a number of research reports. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $670.00 to $678.00 and gave the stock an "overweight" rating in a research report on Friday, July 29th. SVB Leerink raised their price objective on Thermo Fisher Scientific from $630.00 to $650.00 and gave the stock an "outperform" rating in a research report on Friday, July 29th. Barclays decreased their price objective on 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. Finally, Credit Suisse Group initiated coverage on Thermo Fisher Scientific in a report on Wednesday, August 24th. They set a "neutral" rating and a $675.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $656.56.
Thermo Fisher Scientific Stock Down 1.0 %
TMO opened at $520.29 on Friday. The business has a 50 day moving average price of $567.60 and a 200 day moving average price of $558.21. Thermo Fisher Scientific Inc. has a twelve month low of $497.83 and a twelve month high of $672.34. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.13 and a current ratio of 1.65. The firm has a market cap of $203.84 billion, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.64 and a beta of 0.85.Thermo Fisher Scientific (NYSE:TMO – Get Rating) last posted its earnings results on Thursday, July 28th. The medical research company reported $5.51 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.59. Thermo Fisher Scientific had a return on equity of 24.36% and a net margin of 17.37%. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $9.95 billion. During the same period in the previous year, the company earned $5.60 EPS. The company'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 EPS for the current year.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Thursday, September 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Wednesday, September 14th. Thermo Fisher Scientific's dividend payout ratio is currently 6.39%.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 814 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $597.24, for a total value of $486,153.36. Following the transaction, the director now directly owns 15,807 shares of the company's stock, valued at approximately $9,440,572.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 814 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $597.24, for a total value of $486,153.36. Following the transaction, the director now directly owns 15,807 shares of the company's stock, valued at approximately $9,440,572.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $588.36, for a total value of $5,883,600.00. Following the completion of the transaction, the chief executive officer now directly owns 183,373 shares in the company, valued at $107,889,338.28. The disclosure for this sale can be found here. Insiders have sold a total of 55,397 shares of company stock valued at $33,012,754 in the last three months. Company insiders own 0.43% of the company's stock.
Thermo Fisher Scientific Company 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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