MBL Wealth LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 3.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 660 shares of the medical research company’s stock after selling 26 shares during the period. MBL Wealth LLC’s holdings in Thermo Fisher Scientific were worth $268,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. CBIZ Investment Advisory Services LLC raised its stake in shares of Thermo Fisher Scientific by 137.5% in the first quarter. CBIZ Investment Advisory Services LLC now owns 57 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 33 shares during the last quarter. Anderson Financial Strategies LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at $30,000. Keystone Global Partners LLC bought a new stake in shares of Thermo Fisher Scientific during the first quarter worth $31,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Thermo Fisher Scientific by 406.7% in the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after buying an additional 61 shares in the last quarter. Finally, HighMark Wealth Management LLC lifted its position in Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after buying an additional 45 shares in the last quarter. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock opened at $543.88 on Monday. The firm has a market capitalization of $205.38 billion, a P/E ratio of 31.46, a PEG ratio of 2.95 and a beta of 0.77. The business has a 50-day moving average of $482.58 and a 200-day moving average of $446.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $610.97.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is 9.95%.
Insiders Place Their Bets
In related news, CAO Joseph R. Holmes sold 385 shares of the firm’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $492.63, for a total transaction of $189,662.55. Following the sale, the chief accounting officer directly owned 2,319 shares in the company, valued at $1,142,408.97. This trade represents a 14.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,066 shares of company stock worth $14,182,963. Company insiders own 0.33% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have weighed in on the stock. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 24th. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating on the stock in a report on Thursday, July 24th. UBS Group lifted their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. HSBC reiterated a “hold” rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, Barclays upped their target price on shares of Thermo Fisher Scientific from $550.00 to $585.00 and gave the company an “overweight” rating in a research report on Thursday. Fifteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $585.37.
Check Out Our Latest Stock Report on TMO
Thermo Fisher Scientific Profile
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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