Artemis Investment Management LLP Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Artemis Investment Management LLP lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 66.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,923 shares of the medical research company’s stock after selling 45,230 shares during the quarter. Artemis Investment Management LLP’s holdings in Thermo Fisher Scientific were worth $13,316,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Northwest Financial Advisors bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $29,000. True Wealth Design LLC grew its position in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Pineridge Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $39,000. Cape Investment Advisory Inc. boosted its stake in shares of Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. grew its holdings in shares of Thermo Fisher Scientific by 49.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after purchasing an additional 27 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TMO shares. The Goldman Sachs Group upped their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Jefferies Financial Group restated a “buy” rating and set a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Barclays dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $607.06.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,000 shares of company stock valued at $12,532,780. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.4 %

TMO stock opened at $552.72 on Friday. The company has a market capitalization of $210.98 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The business’s 50 day moving average price is $574.84 and its two-hundred day moving average price is $562.59. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. 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; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.