Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,765 shares of the medical research company’s stock after selling 577 shares during the period. Kentucky Retirement Systems’ holdings in Thermo Fisher Scientific were worth $15,907,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC raised its stake in Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares in the last quarter. Cedar Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after purchasing an additional 17 shares in the last quarter. Lafayette Investments Inc. lifted its holdings in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the period. Finally, Drive Wealth Management LLC increased its position in Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after buying an additional 18 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMO. Robert W. Baird raised their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday. TD Cowen increased their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $632.89.

Thermo Fisher Scientific Trading Down 0.1 %

Shares of Thermo Fisher Scientific stock opened at $610.12 on Thursday. The company has a 50-day moving average of $596.69 and a two-hundred day moving average of $580.98. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a market cap of $233.07 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm posted $5.15 earnings per share. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Company 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.