Ecofi Investissements SA Invests $9.92 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ecofi Investissements SA bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, HoldingsChannel.com reports. The fund bought 19,700 shares of the medical research company’s stock, valued at approximately $9,915,000. Thermo Fisher Scientific accounts for 5.5% of Ecofi Investissements SA’s portfolio, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Wallace Capital Management Inc. grew its position in Thermo Fisher Scientific by 39.5% during the second quarter. Wallace Capital Management Inc. now owns 530 shares of the medical research company’s stock valued at $293,000 after buying an additional 150 shares during the period. Quarry LP boosted its stake in shares of Thermo Fisher Scientific by 86.2% during the 2nd quarter. Quarry LP now owns 121 shares of the medical research company’s stock worth $67,000 after acquiring an additional 56 shares during the last quarter. Wallace Advisory Group LLC increased its stake in shares of Thermo Fisher Scientific by 55.5% in the 2nd quarter. Wallace Advisory Group LLC now owns 3,021 shares of the medical research company’s stock worth $1,671,000 after purchasing an additional 1,078 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Thermo Fisher Scientific by 7.8% in the 2nd quarter. NewEdge Advisors LLC now owns 24,696 shares of the medical research company’s stock worth $13,657,000 after purchasing an additional 1,784 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in Thermo Fisher Scientific by 3.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 111,706 shares of the medical research company’s stock valued at $61,776,000 after purchasing an additional 4,030 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’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 sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, 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 completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $650.41.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $614.42 on Monday. The firm has a 50-day moving average of $606.08 and a two-hundred day moving average of $581.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. 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 $234.53 billion, a price-to-earnings ratio of 39.41, a price-to-earnings-growth ratio of 3.88 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the company earned $5.15 EPS. The company’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific Company Profile

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.