Papp L Roy & Associates Increases Stake in Thermo Fisher Scientific Inc (TMO)

Papp L Roy & Associates grew its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 11.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,650 shares of the medical research company’s stock after purchasing an additional 5,933 shares during the period. Thermo Fisher Scientific makes up 2.2% of Papp L Roy & Associates’ investment portfolio, making the stock its 13th largest holding. Papp L Roy & Associates’ holdings in Thermo Fisher Scientific were worth $10,233,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 71.5% during the 1st quarter. Proficio Capital Partners LLC now owns 607 shares of the medical research company’s stock valued at $105,000 after purchasing an additional 253 shares in the last quarter. Cribstone Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 8.7% during the 2nd quarter. Cribstone Capital Management LLC now owns 625 shares of the medical research company’s stock valued at $109,000 after purchasing an additional 50 shares in the last quarter. Sharkey Howes & Javer boosted its stake in shares of Thermo Fisher Scientific by 1.0% during the 1st quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after purchasing an additional 7 shares in the last quarter. CWM LLC boosted its stake in shares of Thermo Fisher Scientific by 17.0% during the 2nd quarter. CWM LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 103 shares in the last quarter. Finally, Grove Bank & Trust boosted its stake in shares of Thermo Fisher Scientific by 19.9% during the 2nd quarter. Grove Bank & Trust now owns 860 shares of the medical research company’s stock valued at $150,000 after purchasing an additional 143 shares in the last quarter. 83.52% of the stock is currently owned by hedge funds and other institutional investors.

TMO has been the topic of a number of research reports. Cowen and Company reaffirmed an “outperform” rating and set a $220.00 target price (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Sunday. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, May 18th. They set an “overweight” rating and a $194.00 target price on the stock. BidaskClub raised shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. Citigroup Inc. reaffirmed a “buy” rating and set a $201.00 target price (up previously from $182.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 10th. Finally, Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $199.00 target price on the stock in a research note on Tuesday, July 11th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $193.19.

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In other news, Director Jim P. Manzi sold 11,318 shares of the firm’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $172.94, for a total value of $1,957,334.92. Following the sale, the director now directly owns 38,757 shares in the company, valued at approximately $6,702,635.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Seth H. Hoogasian sold 4,140 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $177.80, for a total transaction of $736,092.00. Following the completion of the sale, the vice president now owns 25,518 shares in the company, valued at $4,537,100.40. The disclosure for this sale can be found here. Insiders sold a total of 22,738 shares of company stock worth $4,021,512 over the last 90 days. Company insiders own 0.49% of the company’s stock.

Thermo Fisher Scientific Inc (NYSE TMO) opened at 194.04 on Wednesday. The stock has a market capitalization of $75.70 billion, a PE ratio of 33.80 and a beta of 1.05. The firm has a 50-day moving average of $178.63 and a 200 day moving average of $169.74. Thermo Fisher Scientific Inc has a one year low of $139.07 and a one year high of $194.30.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The business had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. During the same period last year, the business earned $2.03 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc will post $9.35 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.45%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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