Ameriprise Financial Inc. Increases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ameriprise Financial Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,481,257 shares of the medical research company’s stock after buying an additional 604,895 shares during the period. Ameriprise Financial Inc.’s holdings in Thermo Fisher Scientific were worth $1,372,157,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of TMO. Signature Resources Capital Management LLC lifted its position 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 period. True Wealth Design LLC raised its stake 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 worth $29,000 after buying an additional 51 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC raised its position in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in Thermo Fisher Scientific in the first quarter valued at $31,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TMO shares. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. TD Cowen increased their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Finally, Robert W. Baird raised their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four investment 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $647.78.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on 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 sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 over the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $599.90 on Thursday. The business has a fifty day simple moving average of $602.01 and a 200-day simple moving average of $581.57. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The company has a market cap of $228.99 billion, a P/E ratio of 38.48, a P/E/G ratio of 3.87 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.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 net margin of 14.69% and a return on equity of 18.22%. The company 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 posted $5.15 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced 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 yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

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.