Thermo Fisher Scientific Inc. (NYSE:TMO) is Reliant Investment Management LLC’s 8th Largest Position

Reliant Investment Management LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,046 shares of the medical research company’s stock after selling 117 shares during the period. Thermo Fisher Scientific makes up about 3.5% of Reliant Investment Management LLC’s portfolio, making the stock its 8th biggest position. Reliant Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $7,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of TMO. Signature Resources Capital Management LLC boosted its position 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 valued at $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC boosted its holdings in Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC lifted its position 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 purchasing an additional 29 shares during the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Thermo Fisher Scientific in the first quarter worth about $32,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the 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 directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their position. 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. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Down 0.6 %

Thermo Fisher Scientific stock opened at $595.14 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The stock has a market capitalization of $227.34 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 3.83 and a beta of 0.77. 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 business has a 50 day simple moving average of $609.35 and a 200-day simple moving average of $582.90.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share 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 analysts’ expectations of $10.50 billion. During the same period in the prior year, the business posted $5.15 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts anticipate 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. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Wells Fargo & Company initiated coverage on shares of 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. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Evercore ISI lifted their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Barclays lowered their price objective on shares of 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. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $653.72.

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.