Point72 Asia Singapore Pte. Ltd. Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Point72 Asia Singapore Pte. Ltd. increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 295.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,874 shares of the medical research company’s stock after buying an additional 4,389 shares during the period. Thermo Fisher Scientific accounts for about 0.7% of Point72 Asia Singapore Pte. Ltd.’s investment portfolio, making the stock its 29th biggest position. Point72 Asia Singapore Pte. Ltd.’s holdings in Thermo Fisher Scientific were worth $3,248,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC boosted its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. True Wealth Design LLC lifted its position in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of 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% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. purchased a new position in Thermo Fisher Scientific in the first quarter worth about $31,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Up 0.3 %

TMO opened at $611.88 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The stock has a fifty day moving average price of $602.01 and a 200-day moving average price of $581.57. The firm has a market cap of $233.74 billion, a price-to-earnings ratio of 39.25, a PEG ratio of 3.87 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 (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for 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 company’s revenue was down 1.4% compared to the same quarter last year. During the same period last year, the business earned $5.15 EPS. As a group, equities 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 firm 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 dividend of $0.39 per share. The ex-dividend date 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 is presently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the 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 directly owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 6,300 shares of Thermo Fisher Scientific stock in a transaction on Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,548,375.44. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised 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. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. 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 company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $647.78.

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.