Flagship Harbor Advisors LLC Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Flagship Harbor Advisors LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,990 shares of the medical research company’s stock after selling 253 shares during the period. Flagship Harbor Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,125,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In related news, CFO Stephen Williamson sold 14,100 shares of the business’s 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 completion of the sale, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $549.00, for a total value of $5,490,000.00. Following the sale, the chief executive officer now directly owns 141,330 shares in the company, valued at $77,590,170. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $7,755,000.00. Following the sale, the chief financial officer now owns 27,393 shares in the company, valued at $15,066,150. The disclosure for this sale can be found here. Insiders sold a total of 28,700 shares of company stock valued at $15,799,270 over the last ninety days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays upped their price target on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the stock an “overweight” rating in a research note on Thursday, July 27th. Credit Suisse Group upgraded shares of Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target for the company in a research report on Thursday, July 13th. Citigroup started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. They issued a “buy” rating and a $625.00 price objective on the stock. Raymond James upped their price objective on shares of Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the company an “underweight” rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $631.71.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $515.53 on Friday. The firm has a market cap of $198.97 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.43 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 company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.67. The company’s 50-day moving average price is $540.37 and its two-hundred day moving average price is $541.51.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.57%.

Thermo Fisher Scientific Company 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.