Sequoia Financial Advisors LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,810 shares of the medical research company’s stock after selling 1,000 shares during the period. Sequoia Financial Advisors LLC’s holdings in Thermo Fisher Scientific were worth $7,425,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also modified their holdings of TMO. Alhambra Investment Management LLC grew its position in shares of Thermo Fisher Scientific by 24.7% in the 2nd quarter. Alhambra Investment Management LLC now owns 975 shares of the medical research company’s stock valued at $489,000 after purchasing an additional 193 shares during the period. Washington Growth Strategies LLC acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $422,000. Brown Miller Wealth Management LLC bought a new position in Thermo Fisher Scientific in the second quarter valued at approximately $202,000. Simplify Asset Management Inc. increased its position in shares of Thermo Fisher Scientific by 32.6% during the second quarter. Simplify Asset Management Inc. now owns 23,079 shares of the medical research company’s stock worth $11,571,000 after acquiring an additional 5,670 shares in the last quarter. Finally, Howard Capital Management Group LLC raised its holdings in shares of Thermo Fisher Scientific by 1.0% during the second quarter. Howard Capital Management Group LLC now owns 58,470 shares of the medical research company’s stock worth $29,314,000 after acquiring an additional 591 shares during the period. Institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Trading Down 1.3%
Thermo Fisher Scientific stock opened at $588.17 on Friday. The company has a market cap of $217.47 billion, a price-to-earnings ratio of 31.64, a P/E/G ratio of 2.39 and a beta of 0.85. The firm has a 50-day moving average of $529.37 and a 200-day moving average of $509.58. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.55 and a quick ratio of 1.18. Thermo Fisher Scientific Inc. has a one year low of $435.27 and a one year high of $643.99.
Thermo Fisher Scientific Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.11%.
Insider Buying and Selling at Thermo Fisher Scientific
In related news, EVP Michael D. Shafer sold 25,500 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the transaction, the executive vice president directly owned 20,994 shares in the company, valued at approximately $12,596,400. The trade was a 54.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $580.00, for a total transaction of $3,393,000.00. Following the completion of the sale, the vice president owned 14,784 shares of the company’s stock, valued at approximately $8,574,720. This represents a 28.35% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 52,053 shares of company stock valued at $30,643,589 in the last 90 days. Company insiders own 0.33% of the company’s stock.
Analysts Set New Price Targets
TMO has been the subject of a number of research analyst reports. Sanford C. Bernstein assumed coverage on shares of Thermo Fisher Scientific in a research note on Friday, June 26th. They issued a “market perform” rating and a $520.00 target price for the company. Royal Bank Of Canada lifted their price target on Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Evercore set a $570.00 price objective on Thermo Fisher Scientific in a research report on Monday, July 6th. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $675.00 to $615.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Finally, Stifel Nicolaus set a $650.00 target price on Thermo Fisher Scientific in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $619.41.
Check Out Our Latest Analysis on TMO
Thermo Fisher Scientific 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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