Rempart Asset Management Inc. boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,579 shares of the medical research company’s stock after buying an additional 1,313 shares during the period. Thermo Fisher Scientific makes up about 5.2% of Rempart Asset Management Inc.’s portfolio, making the stock its 3rd biggest holding. Rempart Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $24,824,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Silicon Valley Capital Partners bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $29,000. OLD Mission Capital LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $31,000. Live Oak Investment Partners bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $36,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $43,000. Finally, Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $43,000. 87.06% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on TMO. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $505.00 to $520.00 and gave the company an “underweight” rating in a research note on Friday, July 28th. Raymond James raised their price target on Thermo Fisher Scientific from $595.00 to $630.00 and gave the stock an “outperform” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. raised their price target on Thermo Fisher Scientific from $660.00 to $670.00 in a research note on Thursday, July 27th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday. Finally, Credit Suisse Group raised Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target for the company in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $631.71.
Thermo Fisher Scientific Stock Down 0.0 %
Shares of NYSE:TMO traded down $0.11 on Friday, reaching $515.53. The company had a trading volume of 5,179,741 shares, compared to its average volume of 1,216,868. Thermo Fisher Scientific Inc. has a 52-week low of $475.77 and a 52-week high of $609.85. The firm’s 50 day simple moving average is $540.37 and its 200-day simple moving average is $541.51. The firm has a market capitalization of $198.97 billion, a PE ratio of 35.24, a PEG ratio of 2.43 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) 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). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The company had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the business posted $5.51 earnings per share. The company’s revenue was down 2.6% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 22.37 earnings per share 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. Investors of record on Friday, September 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.40 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.57%.
Insider Buying and Selling
In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total transaction of $5,490,000.00. Following the transaction, the chief executive officer now directly owns 141,330 shares in the company, valued at approximately $77,590,170. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $550.60, for a total transaction of $880,960.00. Following the completion of the sale, the chief executive officer now owns 135,330 shares of the company’s stock, valued at approximately $74,512,698. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, August 3rd. The stock was 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 of the company’s stock, valued at approximately $77,590,170. The disclosure for this sale can be found here. Insiders have sold a total of 28,700 shares of company stock worth $15,799,270 in the last ninety days. 0.32% of the stock is owned by insiders.
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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