Granite Investment Partners LLC Sells 34 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Granite Investment Partners LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,435 shares of the medical research company’s stock after selling 34 shares during the quarter. Granite Investment Partners LLC’s holdings in Thermo Fisher Scientific were worth $12,960,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Accretive Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 8.1% during the 4th quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock worth $340,000 after buying an additional 48 shares during the period. Aveo Capital Partners LLC grew its position in shares of Thermo Fisher Scientific by 9.7% during the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after buying an additional 72 shares during the period. Gryphon Financial Partners LLC grew its position in shares of Thermo Fisher Scientific by 8.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock worth $794,000 after buying an additional 116 shares during the period. TrinityPoint Wealth LLC grew its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,080 shares of the medical research company’s stock worth $2,166,000 after buying an additional 164 shares during the period. Finally, Frazier Financial Advisors LLC acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $49,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO opened at $620.26 on Friday. The stock has a fifty day simple moving average of $598.25 and a two-hundred day simple moving average of $581.25. 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 company has a market cap of $236.94 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the company earned $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. 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 is currently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the 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 sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of 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 three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TMO. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Robert W. Baird lifted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average 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.