Encore Global Management LP purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,600 shares of the medical research company’s stock, valued at approximately $3,810,000. Thermo Fisher Scientific comprises 3.7% of Encore Global Management LP’s holdings, making the stock its 6th biggest holding.
Other large investors also recently modified their holdings of the company. J. Stern & Co. LLP lifted its holdings in Thermo Fisher Scientific by 58,006.4% during the 4th quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company’s stock worth $18,258,082,000 after purchasing an additional 31,455,105 shares during the last quarter. BlackRock Inc. bought a new stake in Thermo Fisher Scientific during the second quarter worth about $15,501,867,000. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $3,072,744,000. Bank of New York Mellon Corp acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at $1,974,561,000. Finally, Auto Owners Insurance Co grew its position in Thermo Fisher Scientific by 57,845.0% in the fourth quarter. Auto Owners Insurance Co now owns 2,427,896 shares of the medical research company’s stock valued at $1,406,844,000 after acquiring an additional 2,423,706 shares during the last quarter. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Stock Performance
Shares of Thermo Fisher Scientific stock opened at $629.02 on Friday. The business has a 50-day moving average price of $542.53 and a two-hundred day moving average price of $509.70. Thermo Fisher Scientific Inc. has a 1-year low of $435.27 and a 1-year high of $643.99. The company has a current ratio of 1.55, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The company has a market cap of $232.58 billion, a P/E ratio of 33.84, a PEG ratio of 2.56 and a beta of 0.85.
Thermo Fisher Scientific Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s payout ratio is presently 10.11%.
Insider Transactions at Thermo Fisher Scientific
In other news, VP Lisa P. Britt sold 11,440 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the sale, the vice president directly owned 14,784 shares in the company, valued at $9,064,366.08. The trade was a 43.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 420 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $584.81, for a total transaction of $245,620.20. Following the completion of the sale, the chief accounting officer directly owned 2,966 shares in the company, valued at $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 quarter, insiders sold 63,493 shares of company stock valued at $37,657,681. Corporate insiders own 0.33% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on TMO. Morgan Stanley raised 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 report on Friday, July 24th. Barclays increased their price target on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Weiss Ratings upgraded Thermo Fisher Scientific from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, July 14th. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating for the company in a research report on Friday, April 24th. Finally, Wolfe Research initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, June 2nd. They set an “outperform” rating and a $535.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $619.41.
Read Our Latest Analysis on Thermo Fisher Scientific
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.
Read More
- Five stocks we like better than Thermo Fisher Scientific
- Blueprint for a Boom: SEC Clears the Crypto Runway
- Ross Stores Just Flipped the Off-Price Retail Story After TJX’s Marmaxx Miss
- Advance Auto Parts Plunged, But Its Turnaround Is Still Working
- Is Palo Alto Networks Priced for Perfection Again as AI Security Demand Accelerates?
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.
