Strive Financial Group LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 79.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 742 shares of the medical research company’s stock after selling 2,801 shares during the quarter. Strive Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $372,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Bank OZK acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth $1,096,000. Ausdal Financial Partners Inc. acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $456,000. North Dakota State Investment Board acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $7,505,000. BlackRock Inc. purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $15,501,867,000. Finally, German American Bancorp Inc. acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $4,920,000. 89.23% of the stock is currently owned by institutional investors.
Thermo Fisher Scientific Stock Performance
Shares of TMO stock opened at $612.75 on Friday. The firm has a market cap of $226.56 billion, a P/E ratio of 32.96, a PEG ratio of 2.59 and a beta of 0.85. 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 fifty-two week low of $435.27 and a fifty-two week high of $647.00. The stock’s 50-day moving average is $570.91 and its two-hundred day moving average is $515.10.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be issued 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 (DPR) is currently 10.11%.
Wall Street Analysts Forecast Growth
TMO has been the subject of a number of research analyst reports. Evercore set a $570.00 target price on Thermo Fisher Scientific in a report on Monday, July 6th. Royal Bank Of Canada upped their price target on Thermo Fisher Scientific from $490.00 to $580.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Sanford C. Bernstein assumed coverage on Thermo Fisher Scientific in a research report on Friday, June 26th. They set a “market perform” rating and a $520.00 price objective for the company. Jefferies Financial Group reiterated a “buy” rating and issued a $630.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 23rd. Finally, KeyCorp restated an “overweight” rating on shares of Thermo Fisher Scientific in a report on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $619.41.
Get Our Latest Stock Analysis on Thermo Fisher Scientific
Insider Buying and Selling at Thermo Fisher Scientific
In other news, CAO Joseph R. Holmes sold 420 shares of the stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $584.81, for a total transaction of $245,620.20. Following the transaction, the chief accounting officer owned 2,966 shares of the company’s stock, valued at approximately $1,734,546.46. This represents a 12.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 275 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $627.05, for a total value of $172,438.75. Following the completion of the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at $77,707,171.25. The trade was a 0.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 73,768 shares of company stock valued at $44,122,820. Company insiders own 0.33% of the company’s stock.
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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