Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Reduced by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 93,067 shares of the medical research company’s stock after selling 15,874 shares during the period. Thermo Fisher Scientific comprises about 1.5% of Prio Wealth Limited Partnership’s investment portfolio, making the stock its 16th biggest holding. Prio Wealth Limited Partnership’s holdings in Thermo Fisher Scientific were worth $51,466,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of TMO. Heritage Wealth Management Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $334,000. Sanctuary Advisors LLC acquired a new position in Thermo Fisher Scientific in the second quarter worth approximately $31,573,000. Brown Financial Advisors acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $671,000. Sycomore Asset Management grew its position in Thermo Fisher Scientific by 9.5% in the second quarter. Sycomore Asset Management now owns 8,963 shares of the medical research company’s stock worth $5,003,000 after acquiring an additional 781 shares in the last quarter. Finally, Heritage Oak Wealth Advisors LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $593,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on 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 filing with the SEC, which is available at the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on 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 owns 13,699 shares of the company’s stock, valued at $8,397,760.98. 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 ninety days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $612.92 on Wednesday. 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 company has a 50-day moving average of $608.74 and a 200-day moving average of $582.32. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a market capitalization of $234.13 billion, a price-to-earnings ratio of 39.31, a PEG ratio of 3.90 and a beta of 0.78.

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. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the firm earned $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts anticipate 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. Investors of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TMO shares. Raymond James upped their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, September 20th. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Finally, TD Cowen upped their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $653.72.

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.