Pearl River Capital LLC purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 229 shares of the medical research company’s stock, valued at approximately $67,000.
Other hedge funds also recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its position in Thermo Fisher Scientific by 1,208.8% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 2,225 shares of the medical research company’s stock valued at $654,000 after purchasing an additional 2,055 shares in the last quarter. Cohen Lawrence B raised its position in Thermo Fisher Scientific by 2.0% in the 2nd quarter. Cohen Lawrence B now owns 10,185 shares of the medical research company’s stock valued at $2,991,000 after purchasing an additional 195 shares in the last quarter. Private Trust Co. NA raised its position in Thermo Fisher Scientific by 66.7% in the 2nd quarter. Private Trust Co. NA now owns 3,273 shares of the medical research company’s stock valued at $961,000 after purchasing an additional 1,310 shares in the last quarter. Parallel Advisors LLC raised its position in Thermo Fisher Scientific by 4.4% in the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock valued at $2,578,000 after purchasing an additional 393 shares in the last quarter. Finally, Amica Retiree Medical Trust increased its holdings in shares of Thermo Fisher Scientific by 8.4% in the 2nd quarter. Amica Retiree Medical Trust now owns 3,184 shares of the medical research company’s stock valued at $935,000 after acquiring an additional 247 shares during the last quarter. 88.19% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Needham & Company LLC increased their price objective on Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday, July 25th. UBS Group increased their price objective on Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price objective on the stock in a report on Wednesday, June 12th. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Monday, July 15th. Finally, BTIG Research increased their price objective on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $303.17.
NYSE:TMO traded up $1.75 during mid-day trading on Wednesday, reaching $285.28. 46,814 shares of the stock were exchanged, compared to its average volume of 1,333,994. The company has a 50 day simple moving average of $280.56 and a 200-day simple moving average of $274.75. The stock has a market capitalization of $114.96 billion, a P/E ratio of 25.63, a P/E/G ratio of 1.88 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Thermo Fisher Scientific Inc. has a 1 year low of $208.34 and a 1 year high of $305.45.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.03. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.75 EPS. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
In related news, CEO Marc N. Casper sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the transaction, the chief executive officer now owns 342,193 shares in the company, valued at approximately $97,466,832.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.45% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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