ProShare Advisors LLC Has $32.96 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

ProShare Advisors LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,607 shares of the medical research company’s stock after purchasing an additional 6,783 shares during the period. ProShare Advisors LLC’s holdings in Thermo Fisher Scientific were worth $32,963,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Brookstone Capital Management raised 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 valued at $2,550,000 after purchasing an additional 3,142 shares in the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $40,335,000. Leo Wealth LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $1,117,000. Rhenman & Partners Asset Management AB grew its stake in shares of Thermo Fisher Scientific by 6,600.0% during the fourth quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock worth $17,781,000 after buying an additional 33,000 shares during the last quarter. Finally, BDF Gestion bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $6,368,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $613.69 on Monday. The stock has a market cap of $234.26 billion, a PE ratio of 39.36, a PEG ratio of 2.86 and a beta of 0.78. The company’s fifty day moving average is $599.56 and its 200 day moving average is $581.38. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific Announces Dividend

The company 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 $0.39 dividend. 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 presently 10.01%.

Analyst Ratings Changes

TMO has been the topic of several analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Bank of America boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday. Finally, Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. Four 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. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $647.78.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The shares were 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 directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

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.