Frank Rimerman Advisors LLC Has $2.54 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Frank Rimerman Advisors LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19,058.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,598 shares of the medical research company’s stock after acquiring an additional 4,574 shares during the period. Frank Rimerman Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,543,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 12.8% during the second quarter. ProShare Advisors LLC now owns 59,607 shares of the medical research company’s stock worth $32,963,000 after buying an additional 6,783 shares during the period. Alaethes Wealth LLC lifted its stake in Thermo Fisher Scientific by 3.0% in the 2nd quarter. Alaethes Wealth LLC now owns 3,093 shares of the medical research company’s stock valued at $1,711,000 after acquiring an additional 90 shares in the last quarter. Legacy Financial Advisors Inc. boosted its position in Thermo Fisher Scientific by 7.3% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,115 shares of the medical research company’s stock worth $1,170,000 after acquiring an additional 144 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 80.5% in the second quarter. Westwood Holdings Group Inc. now owns 2,226 shares of the medical research company’s stock valued at $1,231,000 after purchasing an additional 993 shares during the last quarter. Finally, Bulltick Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 5.4% in the second quarter. Bulltick Wealth Management LLC now owns 701 shares of the medical research company’s stock worth $388,000 after purchasing an additional 36 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 shares were 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 of the company’s stock, valued at $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 worth $14,094,292 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $613.69 on Friday. 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 fifty day simple moving average of $599.56 and a 200 day simple moving average of $581.45. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a market capitalization of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth 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 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company posted $5.15 earnings per share. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis 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%.

Analyst Ratings Changes

Several brokerages have issued reports on TMO. Robert W. Baird lifted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI lowered 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. Wells Fargo & Company assumed coverage on 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. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four equities research 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $647.78.

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.