Dynamic Technology Lab Private Ltd lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 34.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,940 shares of the medical research company’s stock after buying an additional 760 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Thermo Fisher Scientific were worth $1,463,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $30,000. Keystone Global Partners LLC acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $31,000. IMA Advisory Services Inc. acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $35,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $37,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO opened at $492.20 on Friday. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The stock has a fifty day moving average of $460.72 and a 200-day moving average of $452.89. The company has a market capitalization of $185.86 billion, a PE ratio of 28.47, a price-to-earnings-growth ratio of 2.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.
Thermo Fisher Scientific Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is 9.95%.
Insider Buying and Selling at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares of the company’s stock, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $500.96, for a total transaction of $5,009,600.00. Following the sale, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $57,697,567.04. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,666 shares of company stock valued at $13,982,763 in the last three months. 0.33% of the stock is currently owned by company insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on TMO shares. Robert W. Baird upped their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an “outperform” rating in a research report on Thursday, July 24th. Barclays upped their target price on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Wall Street Zen downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Sunday. Scotiabank upgraded Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 target price for the company in a research report on Friday, July 11th. Finally, Royal Bank Of Canada set a $561.00 target price on Thermo Fisher Scientific and gave the stock an “outperform” rating in a research report on Tuesday. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $589.38.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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