First Manhattan CO. LLC. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 11.2% during the first quarter, HoldingsChannel.com reports. The firm owned 724,844 shares of the medical research company’s stock after acquiring an additional 72,792 shares during the period. Thermo Fisher Scientific makes up about 1.6% of First Manhattan CO. LLC.’s portfolio, making the stock its 12th largest holding. First Manhattan CO. LLC.’s holdings in Thermo Fisher Scientific were worth $417,779,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Silicon Valley Capital Partners bought a new position in Thermo Fisher Scientific during the first quarter valued at approximately $29,000. OLD Mission Capital LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $31,000. Live Oak Investment Partners bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $36,000. Grey Fox Wealth Advisors LLC bought a new position in Thermo Fisher Scientific during the fourth quarter valued at about $43,000. Finally, Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $43,000. Hedge funds and other institutional investors own 87.06% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently weighed in on the company. KeyCorp reduced their target price on Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. Royal Bank of Canada raised their target price on shares of Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. Credit Suisse Group upgraded Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price objective on the stock in a research note on Thursday, July 13th. Finally, Citigroup started coverage on Thermo Fisher Scientific in a report on Wednesday, September 6th. They set a “buy” rating and a $625.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $631.71.
Insider Activity at Thermo Fisher Scientific
In other news, CFO Stephen Williamson sold 14,100 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total value of $7,755,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,393 shares in the company, valued at $15,066,150. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 14,100 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $550.00, for a total value of $7,755,000.00. Following the completion of the sale, the chief financial officer now owns 27,393 shares in the company, valued at approximately $15,066,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the transaction, the executive vice president now owns 17,556 shares in the company, valued at $9,792,210.12. The disclosure for this sale can be found here. Insiders sold 28,700 shares of company stock valued at $15,799,270 in the last three months. Corporate insiders own 0.32% of the company’s stock.
Thermo Fisher Scientific Price Performance
Shares of TMO stock traded down $3.46 during trading hours on Tuesday, hitting $511.48. The company had a trading volume of 595,501 shares, compared to its average volume of 1,468,791. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.42. The firm has a market capitalization of $197.41 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.51 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $609.85. The firm’s fifty day moving average is $540.72 and its 200 day moving average is $542.32.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its earnings results on Wednesday, July 26th. The medical research company reported $5.15 EPS for the quarter, missing the consensus estimate of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The firm had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.99 billion. During the same quarter in the prior year, the firm posted $5.51 EPS. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s payout ratio is currently 9.57%.
Thermo Fisher Scientific Profile
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.
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