Quest Investment Management LLC Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Quest Investment Management LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,151 shares of the medical research company’s stock after selling 271 shares during the quarter. Quest Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $1,743,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management boosted its position in Thermo Fisher Scientific by 252.4% during the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after acquiring an additional 3,142 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $40,335,000. Leo Wealth LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $1,117,000. Rhenman & Partners Asset Management AB grew its holdings in Thermo Fisher Scientific by 6,600.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock valued at $17,781,000 after buying an additional 33,000 shares in the last quarter. Finally, BDF Gestion purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $6,368,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Raymond James increased their target price 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 equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.78.

Insider Activity

In related news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $613.69 on Friday. The stock’s 50-day moving average is $599.56 and its two-hundred day moving average is $581.45. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company has a market cap of $234.26 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth 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.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the firm earned $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.