Parkside Investments LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,613 shares of the medical research company’s stock after selling 405 shares during the quarter. Parkside Investments LLC’s holdings in Thermo Fisher Scientific were worth $4,292,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Ipswich Investment Management Co. Inc. lifted its stake in shares of Thermo Fisher Scientific by 0.5% in the 2nd quarter. Ipswich Investment Management Co. Inc. now owns 7,773 shares of the medical research company’s stock valued at $2,283,000 after purchasing an additional 35 shares during the period. Van Hulzen Asset Management LLC grew its stake in shares of Thermo Fisher Scientific by 3.1% during the first quarter. Van Hulzen Asset Management LLC now owns 1,197 shares of the medical research company’s stock valued at $328,000 after buying an additional 36 shares during the last quarter. Community Bank & Trust Waco Texas grew its stake in Thermo Fisher Scientific by 1.8% in the first quarter. Community Bank & Trust Waco Texas now owns 2,366 shares of the medical research company’s stock worth $648,000 after purchasing an additional 42 shares in the last quarter. Intrust Bank NA grew its stake in Thermo Fisher Scientific by 1.0% in the first quarter. Intrust Bank NA now owns 4,213 shares of the medical research company’s stock worth $1,153,000 after purchasing an additional 42 shares in the last quarter. Finally, V Wealth Advisors LLC grew its stake in Thermo Fisher Scientific by 0.9% in the second quarter. V Wealth Advisors LLC now owns 5,035 shares of the medical research company’s stock worth $1,479,000 after purchasing an additional 46 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 342,193 shares in the company, valued at $97,466,832.19. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director C Martin Harris sold 275 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $270.73, for a total value of $74,450.75. Following the sale, the director now owns 6,433 shares of the company’s stock, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,775 shares of company stock valued at $14,986,676. 0.45% of the stock is owned by company insiders.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.03. The company had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. Thermo Fisher Scientific’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.75 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. The ex-dividend date is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.
Several research analysts recently issued reports on TMO shares. BTIG Research increased their price objective on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. Credit Suisse Group reissued a “buy” rating and issued a $310.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, July 31st. Argus increased their price objective on Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, UBS Group increased their price objective on Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock 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. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus price target of $303.17.
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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