1832 Asset Management L.P. Sells 345,497 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

1832 Asset Management L.P. trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 567,773 shares of the medical research company’s stock after selling 345,497 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.15% of Thermo Fisher Scientific worth $313,978,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Capital World Investors boosted its stake in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $705,636,000. Veritas Asset Management LLP raised its holdings in shares of Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $333,786,000. Finally, Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 6.9% during the 4th quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after acquiring an additional 517,137 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific 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 transaction, the chief executive officer now 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 is available through the SEC website. In other Thermo Fisher Scientific 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 transaction, the chief executive officer now 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 is available through the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. 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 quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TMO. Raymond James upped their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI decreased their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Barclays decreased their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Finally, Stifel Nicolaus increased their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a report on Friday. Four investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $647.78.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $613.69 on Friday. The firm has a market cap of $234.26 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The stock’s fifty day moving average price is $599.56 and its 200-day moving average price is $581.45.

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

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

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.