Driehaus Capital Management LLC Has $843,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Driehaus Capital Management LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 75.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,524 shares of the medical research company’s stock after purchasing an additional 653 shares during the quarter. Driehaus Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $843,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. True Wealth Design LLC lifted its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC lifted its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $31,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $618.57 on Tuesday. The stock’s fifty day moving average is $607.53 and its 200-day moving average is $582.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a market capitalization of $236.29 billion, a PE ratio of 39.68, a PEG ratio of 3.90 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.

Thermo Fisher Scientific (NYSE:TMO) last announced 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. The company had revenue of $10.54 billion for the quarter, compared to analysts’ expectations 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 in the prior year, the business earned $5.15 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value 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 $10,747,403.95. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TMO shares. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Barclays cut their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four 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 company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.