Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Trimmed by Orleans Capital Management Corp LA

Orleans Capital Management Corp LA trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the second quarter, Holdings Channel.com reports. The fund owned 5,375 shares of the medical research company’s stock after selling 115 shares during the period. Thermo Fisher Scientific comprises 1.9% of Orleans Capital Management Corp LA’s portfolio, making the stock its 20th biggest holding. Orleans Capital Management Corp LA’s holdings in Thermo Fisher Scientific were worth $2,972,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital World Investors raised its position in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after purchasing an additional 1,231,059 shares during the period. Swedbank AB purchased a new stake in Thermo Fisher Scientific during the first quarter valued at about $705,636,000. Veritas Asset Management LLP increased its position in shares of Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. Finally, Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after acquiring an additional 517,137 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays dropped their target price on 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. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Finally, Raymond James raised their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $650.41.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $618.57 on Tuesday. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The stock has a 50-day simple moving average of $607.53 and a 200 day simple moving average of $582.11. 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 capitalization of $236.29 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 3.90 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results 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 net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the business earned $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared 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 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Insider Buying and Selling

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

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.