Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Cim Investment Management Inc.

Cim Investment Management Inc. reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,263 shares of the medical research company’s stock after selling 24 shares during the period. Thermo Fisher Scientific accounts for about 0.6% of Cim Investment Management Inc.’s investment portfolio, making the stock its 26th largest position. Cim Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,804,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Beaumont Financial Advisors LLC grew its stake in Thermo Fisher Scientific by 0.8% in the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the period. Lafayette Investments Inc. increased its stake in Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its stake in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after buying an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after buying an additional 18 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $614.42 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The stock has a market cap of $234.71 billion, a P/E ratio of 39.41, a PEG ratio of 3.88 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a 50-day moving average of $606.08 and a two-hundred day moving average of $582.06.

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 for the quarter, beating 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 analyst estimates of $10.50 billion. During the same quarter last year, the firm earned $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. 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 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Raymond James boosted their target price 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. Robert W. Baird boosted their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price on the stock. Evercore ISI lowered their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, Royal Bank of Canada reaffirmed 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 investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average 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.