Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Cut by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 791,828 shares of the medical research company’s stock after selling 10,166 shares during the period. Thermo Fisher Scientific comprises approximately 2.0% of King Luther Capital Management Corp’s investment portfolio, making the stock its 8th biggest position. King Luther Capital Management Corp owned approximately 0.21% of Thermo Fisher Scientific worth $437,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific during the first quarter worth $31,000. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the period. Finally, True Wealth Design LLC boosted its holdings in Thermo Fisher Scientific by 1,275.0% during the 4th 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 period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7 %

NYSE:TMO opened at $620.26 on Friday. The stock has a market capitalization of $236.94 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The stock has a fifty day moving average price of $598.25 and a two-hundred day moving average price of $581.25. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. 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 company earned $5.15 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 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 Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Analyst Ratings Changes

Several brokerages have recently issued reports on TMO. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective on the stock. Jefferies Financial Group restated a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $632.89.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.