Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Lifted by Perennial Investment Advisors LLC

Perennial Investment Advisors LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.5% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 717 shares of the medical research company’s stock after buying an additional 68 shares during the quarter. Perennial Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $397,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Edgestream Partners L.P. raised its holdings in shares of Thermo Fisher Scientific by 128.7% during the 2nd quarter. Edgestream Partners L.P. now owns 6,536 shares of the medical research company’s stock valued at $3,614,000 after purchasing an additional 3,678 shares in the last quarter. Moors & Cabot Inc. raised its holdings in Thermo Fisher Scientific by 1.7% during the second quarter. Moors & Cabot Inc. now owns 3,927 shares of the medical research company’s stock valued at $2,172,000 after buying an additional 67 shares in the last quarter. Lmcg Investments LLC lifted its position in shares of Thermo Fisher Scientific by 2.9% in the second quarter. Lmcg Investments LLC now owns 14,382 shares of the medical research company’s stock worth $7,953,000 after buying an additional 400 shares during the last quarter. WealthPLAN Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 6.5% during the 2nd quarter. WealthPLAN Partners LLC now owns 4,120 shares of the medical research company’s stock valued at $2,279,000 after acquiring an additional 253 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $130,425,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.6 %

TMO stock opened at $610.26 on Wednesday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market cap of $232.95 billion, a P/E ratio of 39.14, a P/E/G ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The business’s 50 day moving average is $595.23 and its 200-day moving average is $580.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the company posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid 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 dividend payout ratio is 10.01%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TMO shares. Royal Bank of Canada lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Raymond James raised their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays decreased their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. TD Cowen lifted their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $632.89.

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.