Senator Investment Group LP Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Senator Investment Group LP decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,000 shares of the medical research company’s stock after selling 5,000 shares during the period. Thermo Fisher Scientific comprises approximately 2.2% of Senator Investment Group LP’s holdings, making the stock its 18th largest holding. Senator Investment Group LP’s holdings in Thermo Fisher Scientific were worth $44,240,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Accretive Wealth Partners LLC increased its holdings in Thermo Fisher Scientific by 8.1% during the fourth quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after buying an additional 48 shares during the period. Aveo Capital Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 9.7% during the fourth quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock valued at $433,000 after acquiring an additional 72 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in Thermo Fisher Scientific by 8.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock worth $794,000 after acquiring an additional 116 shares during the period. Carolinas Wealth Consulting LLC lifted its stake in Thermo Fisher Scientific by 30.4% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 365 shares of the medical research company’s stock valued at $194,000 after acquiring an additional 85 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $382,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on TMO shares. Jefferies Financial Group restated a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Raymond James lifted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Robert W. Baird boosted their target price 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. Finally, Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target for the company. Four 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. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $650.41.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $614.42 on Monday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a market cap of $234.53 billion, a PE ratio of 39.41, a P/E/G 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 stock has a fifty day moving average price of $606.08 and a 200 day moving average price of $581.88.

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 (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the previous year, the company posted $5.15 EPS. The business’s revenue was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared 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 of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 in the last quarter. 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.