Palouse Capital Management Inc. Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Palouse Capital Management Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,445 shares of the medical research company’s stock after selling 74 shares during the period. Palouse Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,352,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management lifted its stake in shares of Thermo Fisher Scientific by 252.4% in the 1st 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 during the period. Artisan Partners Limited Partnership purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $40,335,000. Leo Wealth LLC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $1,117,000. Rhenman & Partners Asset Management AB raised its holdings in Thermo Fisher Scientific by 6,600.0% in the 4th quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock worth $17,781,000 after purchasing an additional 33,000 shares during the period. Finally, BDF Gestion acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $6,368,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 0.1 %

NYSE:TMO opened at $610.12 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. 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 $596.69 and a 200 day simple moving average of $580.98. The firm has a market capitalization of $233.07 billion, a P/E ratio of 39.14, a P/E/G ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results 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 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.15 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s 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 directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TMO shares. Evercore ISI decreased their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. TD Cowen increased their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays lowered their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $632.89.

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.