Independent Financial Group LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 29.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,571 shares of the medical research company’s stock after acquiring an additional 1,252 shares during the period. Independent Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $2,793,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Security National Bank lifted its position in shares of Thermo Fisher Scientific by 18.5% in the 2nd quarter. Security National Bank now owns 14,095 shares of the medical research company’s stock valued at $7,067,000 after acquiring an additional 2,205 shares in the last quarter. Matrix Asset Advisors Inc. NY raised its stake in Thermo Fisher Scientific by 22.7% during the 2nd quarter. Matrix Asset Advisors Inc. NY now owns 27,668 shares of the medical research company’s stock valued at $13,872,000 after purchasing an additional 5,121 shares during the period. WealthBridge Investment Counsel Inc. lifted its holdings in shares of Thermo Fisher Scientific by 2.2% in the second quarter. WealthBridge Investment Counsel Inc. now owns 12,852 shares of the medical research company’s stock valued at $6,443,000 after purchasing an additional 275 shares in the last quarter. Tompkins Financial Corp boosted its position in shares of Thermo Fisher Scientific by 2.4% in the second quarter. Tompkins Financial Corp now owns 1,742 shares of the medical research company’s stock worth $873,000 after buying an additional 40 shares during the period. Finally, Keudell Morrison Wealth Management grew its holdings in shares of Thermo Fisher Scientific by 5.1% during the second quarter. Keudell Morrison Wealth Management now owns 498 shares of the medical research company’s stock valued at $250,000 after buying an additional 24 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Trading Down 1.3%
Shares of NYSE TMO opened at $588.17 on Friday. The business has a 50 day simple moving average of $529.37 and a 200 day simple moving average of $509.58. 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 $217.48 billion, a price-to-earnings ratio of 31.64, a PEG 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 Dividend Announcement
The firm 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 $0.47 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $1.88 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.11%.
Insider Activity
In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $565.00, for a total transaction of $226,000.00. Following the transaction, the chief operating officer directly owned 24,651 shares in the company, valued at $13,927,815. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Joseph R. Holmes sold 420 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $584.81, for a total value of $245,620.20. Following the sale, the chief accounting officer owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. This trade represents a 12.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 52,053 shares of company stock valued at $30,643,589. Corporate insiders own 0.33% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on TMO. Stifel Nicolaus set a $650.00 price objective on Thermo Fisher Scientific in a research note on Wednesday, August 5th. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. KeyCorp restated an “overweight” rating on shares of Thermo Fisher Scientific in a report on Tuesday, May 26th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. One investment 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. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $619.41.
View Our Latest Analysis on TMO
Thermo Fisher Scientific Company Profile
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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