Steinberg Asset Management LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 15.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,215 shares of the medical research company’s stock after selling 953 shares during the period. Thermo Fisher Scientific accounts for about 1.4% of Steinberg Asset Management LLC’s investment portfolio, making the stock its 16th largest position. Steinberg Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $1,532,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. AMP Capital Investors Ltd raised its stake in shares of Thermo Fisher Scientific by 4.3% during the 2nd quarter. AMP Capital Investors Ltd now owns 227,727 shares of the medical research company’s stock worth $66,900,000 after purchasing an additional 9,399 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $9,103,000. National Pension Service raised its stake in shares of Thermo Fisher Scientific by 5.5% during the 2nd quarter. National Pension Service now owns 414,398 shares of the medical research company’s stock worth $121,700,000 after purchasing an additional 21,694 shares in the last quarter. Echo Street Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 31.0% during the 2nd quarter. Echo Street Capital Management LLC now owns 217,593 shares of the medical research company’s stock worth $63,903,000 after purchasing an additional 51,457 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its stake in shares of Thermo Fisher Scientific by 9.1% during the 2nd quarter. Asset Management One Co. Ltd. now owns 230,173 shares of the medical research company’s stock worth $67,597,000 after purchasing an additional 19,169 shares in the last quarter. 88.17% of the stock is owned by institutional investors.
Shares of TMO stock traded down $2.11 during trading on Monday, reaching $295.54. The company had a trading volume of 52,046 shares, compared to its average volume of 1,349,471. The firm’s 50 day simple moving average is $281.12 and its two-hundred day simple moving average is $276.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07. Thermo Fisher Scientific Inc. has a one year low of $208.34 and a one year high of $305.45. The company has a market capitalization of $118.13 billion, a PE ratio of 26.58, a PEG ratio of 1.93 and a beta of 1.12.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The business had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.31 billion. During the same period last year, the business earned $2.75 EPS. The firm’s revenue was up 3.9% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s payout ratio is 6.83%.
A number of equities research analysts have recently weighed in on TMO shares. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. Wolfe Research started coverage on Thermo Fisher Scientific in a research note on Thursday, May 30th. They set an “outperform” rating for the company. Needham & Company LLC raised their price target on Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $310.00 price target on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. Finally, UBS Group raised their price objective on Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $303.17.
In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total value of $500,280.69. Following the transaction, the director now directly owns 28,592 shares of the company’s stock, valued at approximately $7,803,614.56. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total value of $14,241,500.00. Following the completion of the transaction, the chief executive officer now directly owns 342,193 shares in the company, valued at $97,466,832.19. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
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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