Wellington Management Group LLP decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 33.8% in the second quarter, HoldingsChannel reports. The fund owned 979,181 shares of the medical research company’s stock after selling 499,070 shares during the quarter. Wellington Management Group LLP’s holdings in Thermo Fisher Scientific were worth $490,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently bought and sold shares of the company. Legacy Wealth Managment LLC ID grew its holdings in Thermo Fisher Scientific by 78.6% during the first quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 22 shares during the period. Kilter Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth about $25,000. Allied Private Wealth LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $26,000. High Note Wealth LLC increased its holdings in Thermo Fisher Scientific by 170.6% in the 4th quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock worth $27,000 after acquiring an additional 29 shares in the last quarter. Finally, Swiss RE Ltd. bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Stock Performance
TMO opened at $621.87 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.18 and a current ratio of 1.55. The stock has a market capitalization of $229.94 billion, a price-to-earnings ratio of 33.45, a PEG ratio of 2.53 and a beta of 0.85. The company has a fifty day moving average of $558.64 and a 200 day moving average of $512.08. Thermo Fisher Scientific Inc. has a fifty-two week low of $435.27 and a fifty-two week high of $647.00.
Thermo Fisher Scientific Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. The ex-dividend date of this dividend 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 presently 10.11%.
Analysts Set New Price Targets
TMO has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $630.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 23rd. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $620.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Piper Sandler increased their price target on Thermo Fisher Scientific from $510.00 to $600.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Evercore set a $570.00 price target on Thermo Fisher Scientific in a report on Monday, July 6th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Thermo Fisher Scientific in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $619.41.
Check Out Our Latest Stock Report on Thermo Fisher Scientific
Insider Buying and Selling at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $629.27, for a total value of $6,292,700.00. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at approximately $77,982,284.75. This trade represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 on Friday, August 7th. The shares were sold at an average price of $584.81, for a total transaction of $245,620.20. Following the sale, the chief accounting officer directly owned 2,966 shares in the company, valued at approximately $1,734,546.46. The trade was a 12.40% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 73,768 shares of company stock worth $44,122,820 over the last three months. 0.33% of the stock is owned by company insiders.
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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