Franklin Street Advisors Inc. NC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 10.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 83,653 shares of the medical research company’s stock after selling 9,688 shares during the period. Thermo Fisher Scientific comprises approximately 2.3% of Franklin Street Advisors Inc. NC’s investment portfolio, making the stock its 11th biggest position. Franklin Street Advisors Inc. NC’s holdings in Thermo Fisher Scientific were worth $41,940,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of TMO. Sapient Capital LLC raised its position in shares of Thermo Fisher Scientific by 11.5% during the second quarter. Sapient Capital LLC now owns 885 shares of the medical research company’s stock worth $444,000 after purchasing an additional 91 shares during the period. Allied Private Wealth LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $26,000. Wealth Science Advisors LLC increased its stake in Thermo Fisher Scientific by 53.4% in the 2nd quarter. Wealth Science Advisors LLC now owns 1,209 shares of the medical research company’s stock worth $606,000 after purchasing an additional 421 shares in the last quarter. HF Advisory Group LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $1,236,000. Finally, Sax Wealth Advisors LLC lifted its stake in Thermo Fisher Scientific by 32.8% during the second quarter. Sax Wealth Advisors LLC now owns 2,208 shares of the medical research company’s stock valued at $1,085,000 after buying an additional 545 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Performance
TMO stock opened at $593.11 on Monday. The firm has a 50 day simple moving average of $517.63 and a 200 day simple moving average of $509.85. Thermo Fisher Scientific Inc. has a 52 week low of $435.27 and a 52 week high of $643.99. The stock has a market cap of $219.30 billion, a P/E ratio of 31.90, a P/E/G ratio of 2.42 and a beta of 0.85. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.11%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on TMO. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $675.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Weiss Ratings raised shares of Thermo Fisher Scientific from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, July 14th. Sanford C. Bernstein started coverage on shares of Thermo Fisher Scientific in a research report on Friday, June 26th. They set a “market perform” rating and a $520.00 price objective on the stock. Evercore set a $570.00 target price on shares of Thermo Fisher Scientific in a research note on Monday, July 6th. Finally, Robert W. Baird decreased their target price on Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $619.41.
Read Our Latest Stock Report on TMO
Insider Buying and Selling at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of the company’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $565.00, for a total value of $226,000.00. Following the transaction, the chief operating officer directly owned 24,651 shares of the company’s stock, valued at $13,927,815. This represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 5,850 shares of the firm’s stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $580.00, for a total value of $3,393,000.00. Following the sale, the vice president directly owned 14,784 shares of the company’s stock, valued at $8,574,720. This trade represents a 28.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,250 shares of company stock worth $12,235,950 over the last 90 days. 0.33% of the stock is currently owned by corporate insiders.
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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