Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,098,082 shares of the medical research company’s stock after selling 138,694 shares during the quarter. Thermo Fisher Scientific makes up about 0.9% of Clearbridge Investments LLC’s investment portfolio, making the stock its 13th largest holding. Clearbridge Investments LLC owned about 0.55% of Thermo Fisher Scientific worth $1,160,239,000 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 stock. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. LifeSteps Financial Inc. bought a new stake in Thermo Fisher Scientific in the first quarter valued at $31,000. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, True Wealth Design LLC lifted its stake in shares of 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 acquiring an additional 51 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $618.57 on Tuesday. The stock has a market capitalization of $236.29 billion, a price-to-earnings ratio of 39.68, a P/E/G ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a 50-day simple moving average of $607.53 and a 200 day simple moving average of $582.11.

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 (EPS) for the quarter, beating 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 last year, the firm posted $5.15 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm 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 $0.39 dividend. 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 presently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The stock was 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 approximately $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The stock was 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 approximately $10,747,403.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. 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. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Barclays cut their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Robert W. Baird upped their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Four equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $652.06.

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.