ARK Investment Management LLC Lowers Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

ARK Investment Management LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 63.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 290 shares of the medical research company’s stock after selling 496 shares during the period. ARK Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $165,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cadence Bank NA increased its holdings in shares of Thermo Fisher Scientific by 0.3% during the first quarter. Cadence Bank NA now owns 7,050 shares of the medical research company’s stock valued at $4,164,000 after purchasing an additional 18 shares during the period. S. R. Schill & Associates boosted its position in shares of Thermo Fisher Scientific by 5.5% in the 4th quarter. S. R. Schill & Associates now owns 385 shares of the medical research company’s stock valued at $257,000 after purchasing an additional 20 shares during the period. Wiley BROS. Aintree Capital LLC boosted its position in shares of Thermo Fisher Scientific by 2.5% in the 1st quarter. Wiley BROS. Aintree Capital LLC now owns 833 shares of the medical research company’s stock valued at $492,000 after purchasing an additional 20 shares during the period. Bridgewater Advisors Inc. boosted its position in shares of Thermo Fisher Scientific by 1.7% in the 1st quarter. Bridgewater Advisors Inc. now owns 1,229 shares of the medical research company’s stock valued at $726,000 after purchasing an additional 20 shares during the period. Finally, Forefront Analytics LLC boosted its position in shares of Thermo Fisher Scientific by 3.9% in the 1st quarter. Forefront Analytics LLC now owns 528 shares of the medical research company’s stock valued at $317,000 after purchasing an additional 20 shares during the period. 86.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Credit Suisse Group assumed coverage on Thermo Fisher Scientific in a research report on Wednesday, August 24th. They set a “neutral” rating and a $675.00 price objective for the company. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $670.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, July 29th. SVB Leerink raised their price target on Thermo Fisher Scientific from $630.00 to $650.00 and gave the stock an “outperform” rating in a research note on Friday, July 29th. Finally, Barclays cut their price target on Thermo Fisher Scientific from $685.00 to $595.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $655.64.

Insider Transactions at Thermo Fisher Scientific

In related news, Director Jim P. Manzi sold 814 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $597.24, for a total value of $486,153.36. Following the sale, the director now owns 15,807 shares of the company’s stock, valued at approximately $9,440,572.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 814 shares of the business’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $597.24, for a total value of $486,153.36. Following the transaction, the director now owns 15,807 shares of the company’s stock, valued at $9,440,572.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Boxer sold 7,283 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $590.80, for a total value of $4,302,796.40. Following the completion of the transaction, the senior vice president now directly owns 12,398 shares in the company, valued at approximately $7,324,738.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,397 shares of company stock valued at $33,012,754. 0.43% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $539.67 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.65 and a debt-to-equity ratio of 0.69. The business’s 50 day moving average is $568.00 and its two-hundred day moving average is $558.78. The company has a market cap of $211.44 billion, a P/E ratio of 28.72, a P/E/G ratio of 1.69 and a beta of 0.85. Thermo Fisher Scientific Inc. has a 12 month low of $497.83 and a 12 month high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The medical research company reported $5.51 earnings per share for the quarter, topping the consensus estimate of $4.92 by $0.59. Thermo Fisher Scientific had a return on equity of 24.36% and a net margin of 17.37%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $9.95 billion. During the same quarter last year, the firm earned $5.60 EPS. Thermo Fisher Scientific’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Wednesday, September 14th. Thermo Fisher Scientific’s payout ratio is presently 6.39%.

Thermo Fisher Scientific Company Profile

(Get Rating)

Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

Recommended Stories

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.