Marietta Investment Partners LLC Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Marietta Investment Partners LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.5% during the 2nd quarter, Holdings Channel reports. The firm owned 8,335 shares of the medical research company’s stock after selling 1,419 shares during the period. Marietta Investment Partners LLC’s holdings in Thermo Fisher Scientific were worth $4,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Bank of Montreal Can boosted its position in Thermo Fisher Scientific by 13.3% in the second quarter. Bank of Montreal Can now owns 840,110 shares of the medical research company’s stock worth $468,840,000 after purchasing an additional 98,855 shares during the last quarter. Lombard Odier Asset Management Europe Ltd boosted its position in Thermo Fisher Scientific by 69.1% in the second quarter. Lombard Odier Asset Management Europe Ltd now owns 49,926 shares of the medical research company’s stock worth $27,609,000 after purchasing an additional 20,409 shares during the last quarter. Lombard Odier Asset Management USA Corp purchased a new position in Thermo Fisher Scientific in the second quarter worth $591,000. Evergreen Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 8.0% in the second quarter. Evergreen Capital Management LLC now owns 2,965 shares of the medical research company’s stock valued at $1,641,000 after buying an additional 219 shares during the period. Finally, Integral Health Asset Management LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $13,825,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The disclosure for this sale can be found here. In the last three months, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $613.69 on Monday. The firm has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. 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’s 50-day simple moving average is $599.56 and its two-hundred day simple moving average is $581.38. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve 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 firm 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 earned $5.15 EPS. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TMO. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday. TD Cowen boosted their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada reiterated an “outperform” rating and set a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday. Finally, Bank of America boosted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.