Marvin & Palmer Associates Inc. Acquires 1,489 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Marvin & Palmer Associates Inc. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.4% in the first quarter, HoldingsChannel reports. The fund owned 14,601 shares of the medical research company’s stock after buying an additional 1,489 shares during the period. Thermo Fisher Scientific makes up 4.2% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 17th biggest position. Marvin & Palmer Associates Inc.’s holdings in Thermo Fisher Scientific were worth $8,416,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TMO. Silicon Valley Capital Partners purchased a new position in shares of Thermo Fisher Scientific in the first quarter worth $29,000. OLD Mission Capital LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at $31,000. Live Oak Investment Partners purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at $36,000. Grey Fox Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at $43,000. Finally, Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at $43,000. 87.06% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Up 0.0 %

Thermo Fisher Scientific stock traded up $0.12 during mid-day trading on Friday, reaching $557.22. The stock had a trading volume of 1,015,534 shares, compared to its average volume of 1,475,869. The company has a market capitalization of $215.06 billion, a price-to-earnings ratio of 38.09, a PEG ratio of 2.57 and a beta of 0.77. The company has a 50-day moving average price of $538.64 and a two-hundred day moving average price of $543.37. Thermo Fisher Scientific Inc. has a one year low of $475.77 and a one year high of $609.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). The firm had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.99 billion. Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.51 EPS. On average, analysts expect that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $662.00 to $698.00 in a research report on Thursday, July 27th. Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating on the stock in a research report on Thursday, July 27th. StockNews.com downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Wells Fargo & Company upped their target price on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the stock an “underweight” rating in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $633.50.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 14,100 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the sale, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,700 shares of company stock worth $15,799,270. Company insiders own 0.32% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.