Magnolia Capital Advisors LLC Buys Shares of 14,922 Thermo Fisher Scientific Inc. (NYSE:TMO)

Magnolia Capital Advisors LLC purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 14,922 shares of the medical research company’s stock, valued at approximately $8,252,000.

Other hedge funds also recently bought and sold shares of the company. Signature Resources Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. True Wealth Design LLC grew its stake in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new position in Thermo Fisher Scientific during the 1st quarter worth $31,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 over the last quarter. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $614.42 on Friday. The firm has a market capitalization of $234.71 billion, a P/E ratio of 39.41, a PEG ratio of 3.88 and a beta of 0.78. 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. The company has a 50 day moving average price of $606.08 and a 200 day moving average price of $581.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 14.69% and a return on equity of 18.22%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the company earned $5.15 earnings per share. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 dividend 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%.

Analyst Ratings Changes

TMO has been the topic of several research reports. TD Cowen raised their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. 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 stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $650.41.

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.