Massachusetts Financial Services Co. MA Sells 475,613 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Massachusetts Financial Services Co. MA lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,831,532 shares of the medical research company’s stock after selling 475,613 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.00% of Thermo Fisher Scientific worth $2,118,837,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $31,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last three months. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TMO. Royal Bank of Canada lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Barclays reduced their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Raymond James increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Thermo Fisher Scientific Trading Down 0.5 %

TMO stock opened at $611.17 on Monday. The firm has a market cap of $233.29 billion, a PE ratio of 39.20, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The firm has a fifty day moving average price of $592.10 and a 200 day moving average price of $580.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the company earned $5.15 EPS. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

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.