Quarry LP Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Quarry LP grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 86.2% in the second quarter, Holdings Channel reports. The fund owned 121 shares of the medical research company’s stock after purchasing an additional 56 shares during the period. Quarry LP’s holdings in Thermo Fisher Scientific were worth $67,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $382,000. Cetera Advisor Networks LLC boosted its stake in shares of Thermo Fisher Scientific by 0.8% in the fourth quarter. Cetera Advisor Networks LLC now owns 27,441 shares of the medical research company’s stock valued at $14,566,000 after purchasing an additional 229 shares during the period. Exencial Wealth Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 31.5% in the fourth quarter. Exencial Wealth Advisors LLC now owns 965 shares of the medical research company’s stock valued at $512,000 after purchasing an additional 231 shares in the last quarter. Stephens Inc. AR lifted its holdings in Thermo Fisher Scientific by 6.6% during the 4th quarter. Stephens Inc. AR now owns 24,566 shares of the medical research company’s stock worth $13,039,000 after buying an additional 1,516 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in Thermo Fisher Scientific by 1.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 711,753 shares of the medical research company’s stock valued at $377,792,000 after buying an additional 13,308 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TMO shares. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Evercore ISI raised their target price on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a report on Tuesday. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Finally, Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $653.72.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction 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 transaction, 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 legal filing with the SEC, which can be accessed through this link. In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, 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 valued at $14,094,292 over the last three months. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 1.9 %

TMO opened at $600.92 on Friday. The firm has a market cap of $229.55 billion, a price-to-earnings ratio of 38.55, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The business’s 50 day moving average is $609.63 and its two-hundred day moving average is $582.66. 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 issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $5.15 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

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.