Synergy Asset Management LLC Has $3.48 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Synergy Asset Management LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,299 shares of the medical research company’s stock after acquiring an additional 1,101 shares during the period. Synergy Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $2,909,524,000. Capital World Investors grew its position in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB bought a new position in shares of Thermo Fisher Scientific in the first quarter worth about $705,636,000. Veritas Asset Management LLP boosted its stake in shares of Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares in the last quarter. Finally, Winslow Capital Management LLC acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $333,786,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Up 1.7 %

Shares of NYSE:TMO traded up $10.30 during midday trading on Friday, reaching $617.18. The company’s stock had a trading volume of 49,917 shares, compared to its average volume of 1,494,841. The firm has a 50 day moving average price of $582.90 and a two-hundred day moving average price of $577.55. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $622.30. The firm has a market capitalization of $235.76 billion, a price-to-earnings ratio of 38.93, a PEG ratio of 2.86 and a beta of 0.78. 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 (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the prior year, the business earned $5.15 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now 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 23,084 shares of company stock valued at $14,094,292 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research reports. Royal Bank of Canada boosted their target price 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. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Barclays cut their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Finally, Jefferies Financial Group reissued a “buy” rating and set a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Four equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $630.41.

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.