Log Out

Alhambra Investment Partners LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Financial News Live · Sep 24, 2022 11:41

Alhambra Investment Partners LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 900 shares of the medical research company's stock after selling 25 shares during the period. Alhambra Investment Partners LLC's holdings in Thermo Fisher Scientific were worth $489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mystic Asset Management Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $29,000. Advanced Research Investment Solutions LLC grew its position in shares of Thermo Fisher Scientific by 213.3% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 47 shares of the medical research company's stock valued at $28,000 after buying an additional 32 shares during the last quarter. Adirondack Trust Co. bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $34,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $38,000. Finally, Lloyd Advisory Services LLC. grew its position in shares of Thermo Fisher Scientific by 294.1% during the 1st quarter. Lloyd Advisory Services LLC. now owns 67 shares of the medical research company's stock valued at $40,000 after buying an additional 50 shares during the last quarter. Institutional investors own 86.50% of the company's stock.

Get Thermo Fisher Scientific alerts:

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $0.50 during midday trading on Friday, reaching $520.79. 1,366,309 shares of the company's stock were exchanged, compared to its average volume of 1,086,803. The company's 50 day simple moving average is $567.24 and its two-hundred day simple moving average is $558.19. The firm has a market capitalization of $204.04 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 1.62 and a beta of 0.85. Thermo Fisher Scientific Inc. has a 12 month low of $497.83 and a 12 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.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 earnings per share for the quarter, beating the consensus estimate of $4.92 by $0.59. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $9.95 billion. Thermo Fisher Scientific had a net margin of 17.37% and a return on equity of 24.36%. The company's quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company posted $5.60 EPS. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 22.92 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed 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 payout ratio is presently 6.39%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $588.36, for a total value of $5,883,600.00. Following the transaction, the chief executive officer now owns 183,373 shares of the company's stock, valued at approximately $107,889,338.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $588.36, for a total transaction of $5,883,600.00. Following the transaction, the chief executive officer now owns 183,373 shares of the company's stock, valued at approximately $107,889,338.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $486,153.36. Following the transaction, the director now directly owns 15,807 shares in the company, valued at approximately $9,440,572.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,397 shares of company stock valued at $33,012,754. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TMO shares. Credit Suisse Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, August 24th. They set a "neutral" rating and a $675.00 target price for the company. SVB Leerink boosted their price target on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the company an "outperform" rating in a report on Friday, July 29th. Barclays cut their price target on shares of Thermo Fisher Scientific from $685.00 to $595.00 and set an "overweight" rating on the stock in a report on Monday, September 12th. Finally, Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $670.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, July 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $656.56.

About Thermo Fisher Scientific

(Get Rating)

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.