Magnetar Financial LLC Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Magnetar Financial LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 92,254 shares of the medical research company’s stock, valued at approximately $51,016,000.

Other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC lifted its stake in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. True Wealth Design LLC lifted its position in shares of Thermo Fisher Scientific by 1,275.0% during 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. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $31,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $613.69 on Monday. The stock has a market capitalization 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. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The stock’s 50 day simple moving average is $599.56 and its 200 day simple moving average is $581.38.

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 for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company earned $5.15 earnings per share. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed 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 of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’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 sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TMO shares. Raymond James lifted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus lifted their price objective on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. 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 report on Friday. Finally, Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Four research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $647.78.

Thermo Fisher Scientific 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.