Global Strategic Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,221 shares of the medical research company’s stock, valued at approximately $612,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock valued at $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after acquiring an additional 20 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $170,000. Raymond James Financial Inc. grew its holdings in shares of Thermo Fisher Scientific by 7.4% during the 2nd quarter. Raymond James Financial Inc. now owns 778,822 shares of the medical research company’s stock worth $315,781,000 after purchasing an additional 53,542 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in shares of Thermo Fisher Scientific by 0.4% in the second quarter. California State Teachers Retirement System now owns 602,031 shares of the medical research company’s stock valued at $244,099,000 after purchasing an additional 2,262 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Stock Performance
NYSE TMO opened at $614.32 on Thursday. The firm’s fifty day moving average price is $536.26 and its two-hundred day moving average price is $508.51. 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 Inc. has a fifty-two week low of $435.27 and a fifty-two week high of $643.99. The stock has a market cap of $227.14 billion, a PE ratio of 33.05, a PEG ratio of 2.40 and a beta of 0.85.
Thermo Fisher Scientific Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, September 15th. Thermo Fisher Scientific’s payout ratio is presently 10.11%.
Insider Buying and Selling at Thermo Fisher Scientific
In related news, VP Lisa P. Britt sold 5,850 shares of the firm’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $580.00, for a total value of $3,393,000.00. Following the transaction, the vice president owned 14,784 shares of the company’s stock, valued at approximately $8,574,720. This trade represents a 28.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael D. Shafer sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total value of $15,300,000.00. Following the sale, the executive vice president directly owned 20,994 shares of the company’s stock, valued at $12,596,400. This represents a 54.85% 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. Insiders sold 52,053 shares of company stock valued at $30,643,589 over the last 90 days. Insiders own 0.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on the company. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a report on Friday, July 24th. Sanford C. Bernstein began 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 target on the stock. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $620.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, July 24th. Wells Fargo & Company dropped their price target 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. Finally, Wolfe Research started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, June 2nd. They set an “outperform” rating and a $535.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $619.41.
Read Our Latest Research Report on TMO
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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