Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Boosted by Summit X LLC

Summit X LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,637 shares of the medical research company’s stock after purchasing an additional 98 shares during the quarter. Summit X LLC’s holdings in Thermo Fisher Scientific were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Silicon Valley Capital Partners acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth about $29,000. Live Oak Investment Partners acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth about $36,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the 1st quarter worth about $43,000. Raleigh Capital Management Inc. boosted its position in Thermo Fisher Scientific by 229.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 79 shares of the medical research company’s stock worth $46,000 after acquiring an additional 55 shares during the period. Finally, Sittner & Nelson LLC boosted its position in Thermo Fisher Scientific by 62.5% during the 1st quarter. Sittner & Nelson LLC now owns 91 shares of the medical research company’s stock worth $52,000 after acquiring an additional 35 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $12.95 during trading on Tuesday, hitting $458.10. The company’s stock had a trading volume of 284,411 shares, compared to its average volume of 1,558,716. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 0.67. The firm has a 50 day moving average price of $484.20 and a 200 day moving average price of $516.46. The firm has a market cap of $177.00 billion, a P/E ratio of 29.16, a price-to-earnings-growth ratio of 2.72 and a beta of 0.81. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $609.85.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $5.69 EPS for the quarter, topping the consensus estimate of $5.61 by $0.08. The company had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.60 billion. Thermo Fisher Scientific had a return on equity of 18.88% and a net margin of 13.68%. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.08 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.17%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $456.15, for a total transaction of $4,561,500.00. Following the sale, the chief executive officer now directly owns 131,175 shares in the company, valued at $59,835,476.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total value of $1,673,310.00. Following the transaction, the executive vice president now owns 17,556 shares of the company’s stock, valued at $9,792,210.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $456.15, for a total value of $4,561,500.00. Following the transaction, the chief executive officer now directly owns 131,175 shares in the company, valued at approximately $59,835,476.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,000 shares of company stock worth $10,778,910. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on TMO. Barclays decreased their price objective on Thermo Fisher Scientific from $625.00 to $585.00 in a research report on Friday, September 29th. Sanford C. Bernstein assumed coverage on Thermo Fisher Scientific in a report on Thursday, September 28th. They set an “outperform” rating and a $603.00 price target for the company. Robert W. Baird reduced their price target on Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Citigroup reduced their price target on Thermo Fisher Scientific from $625.00 to $530.00 and set a “buy” rating for the company in a report on Thursday, October 26th. Finally, TheStreet lowered Thermo Fisher Scientific from a “b-” rating to a “c+” rating in a report on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $593.94.

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.