Richardson Financial Services Inc. Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Richardson Financial Services Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,562 shares of the medical research company’s stock after selling 84 shares during the period. Richardson Financial Services Inc.’s holdings in Thermo Fisher Scientific were worth $864,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific in the first quarter valued at approximately $31,000. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC lifted its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd 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 grew its position in shares of Thermo Fisher Scientific by 1,275.0% in the 4th 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. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.1 %

TMO opened at $610.12 on Thursday. The business has a 50 day simple moving average of $596.69 and a 200-day simple moving average of $580.98. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The stock has a market capitalization of $233.07 billion, a P/E ratio of 39.14, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37.

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 for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business 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 company posted $5.15 EPS. The business’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. 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 ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Evercore ISI dropped their price target on 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. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Stifel Nicolaus lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $632.89.

Thermo Fisher Scientific Company 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.