Dynamic Advisor Solutions LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 47.9% in the 2nd quarter, Holdings Channel.com reports. The fund owned 2,748 shares of the medical research company’s stock after selling 2,522 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Thermo Fisher Scientific were worth $1,378,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC lifted its stake in shares of Thermo Fisher Scientific by 3.2% during the second quarter. GAMMA Investing LLC now owns 8,872 shares of the medical research company’s stock worth $4,448,000 after purchasing an additional 279 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 0.6% during the 2nd quarter. Avior Wealth Management LLC now owns 4,061 shares of the medical research company’s stock valued at $2,036,000 after buying an additional 23 shares during the period. Mader & Shannon Wealth Management Inc. lifted its position in Thermo Fisher Scientific by 1.4% during the 2nd quarter. Mader & Shannon Wealth Management Inc. now owns 18,459 shares of the medical research company’s stock worth $9,255,000 after acquiring an additional 259 shares in the last quarter. Arlington Partners LLC boosted its holdings in Thermo Fisher Scientific by 22.6% in the 2nd quarter. Arlington Partners LLC now owns 618 shares of the medical research company’s stock worth $310,000 after acquiring an additional 114 shares during the period. Finally, Central Pacific Bank Trust Division grew its position in Thermo Fisher Scientific by 36.6% in the second quarter. Central Pacific Bank Trust Division now owns 3,417 shares of the medical research company’s stock valued at $1,713,000 after acquiring an additional 915 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.
Thermo Fisher Scientific Trading Up 2.3%
TMO opened at $593.11 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $435.27 and a 12-month high of $643.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.55 and a quick ratio of 1.18. The stock has a market capitalization of $219.30 billion, a PE ratio of 31.90, a P/E/G ratio of 2.42 and a beta of 0.85. The firm’s fifty day moving average price is $517.63 and its 200 day moving average price is $510.61.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.88 annualized dividend and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.11%.
Insiders Place Their Bets
In other news, VP Lisa P. Britt sold 5,850 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $580.00, for a total value of $3,393,000.00. Following the completion of the transaction, the vice president owned 14,784 shares in the company, 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, COO Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, July 27th. The shares were sold at an average price of $565.00, for a total value of $226,000.00. Following the completion of the sale, the chief operating officer owned 24,651 shares of the company’s stock, valued at $13,927,815. This trade represents a 1.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 21,250 shares of company stock valued at $12,235,950 in the last quarter. Insiders own 0.33% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $653.00 to $639.00 and set an “outperform” rating on the stock in a report on Friday, April 24th. Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, KeyCorp reissued an “overweight” rating on shares of Thermo Fisher Scientific in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $619.41.
Read Our Latest Stock Report 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.
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