Seven Eight Capital LP Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Seven Eight Capital LP raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,586 shares of the medical research company’s stock after buying an additional 588 shares during the quarter. Seven Eight Capital LP’s holdings in Thermo Fisher Scientific were worth $1,430,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Signature Resources Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $31,000. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth $29,000. Stephens Consulting LLC lifted its stake in 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, True Wealth Design LLC increased its position in shares of 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 purchasing an additional 51 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’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 transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s 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 completion of 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 have sold a total of 23,084 shares of company stock valued at $14,094,292 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on TMO shares. TD Cowen upped their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays reduced their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Robert W. Baird boosted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Finally, UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $632.89.

Thermo Fisher Scientific Stock Up 1.7 %

TMO stock opened at $620.26 on Friday. The company has a market capitalization of $236.94 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. 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 business’s 50 day moving average price is $598.25 and its two-hundred day moving average price is $581.25. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.15 earnings per share. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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 paid 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 is 10.01%.

Thermo Fisher Scientific 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.