Fairscale Capital LLC Invests $1.37 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fairscale Capital LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 2,475 shares of the medical research company’s stock, valued at approximately $1,374,000. Thermo Fisher Scientific accounts for about 1.2% of Fairscale Capital LLC’s holdings, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMO. Beaumont Financial Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after purchasing an additional 17 shares during the period. Cedar Wealth Management LLC raised its stake in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after acquiring an additional 17 shares in the last quarter. Lafayette Investments Inc. lifted its holdings in shares of Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after acquiring an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.1 %

Shares of Thermo Fisher Scientific stock opened at $613.69 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The business has a fifty day simple moving average of $599.56 and a 200 day simple moving average of $581.45. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating 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 company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the prior year, the business posted $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling at Thermo Fisher Scientific

In other 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 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 at the SEC website. In related news, 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,548,375.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TMO. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Stifel Nicolaus increased their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen lifted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Finally, Barclays reduced their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $647.78.

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.