American National Insurance Co. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the 2nd quarter, Holdings Channel reports. The fund owned 61,450 shares of the medical research company’s stock after selling 135 shares during the quarter. Thermo Fisher Scientific comprises about 1.2% of American National Insurance Co.’s holdings, making the stock its 13th largest position. American National Insurance Co.’s holdings in Thermo Fisher Scientific were worth $31,000,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Meridian Management Co. increased its position in Thermo Fisher Scientific by 1.3% during the 1st quarter. Meridian Management Co. now owns 9,166 shares of the medical research company’s stock valued at $4,183,000 after purchasing an additional 121 shares during the period. IFP Advisors Inc grew its position in shares of Thermo Fisher Scientific by 4.1% in the 2nd quarter. IFP Advisors Inc now owns 11,119 shares of the medical research company’s stock worth $5,658,000 after buying an additional 439 shares during the period. Factory Mutual Insurance Co. boosted its stake in Thermo Fisher Scientific by 21.6% during the first quarter. Factory Mutual Insurance Co. now owns 187,814 shares of the medical research company’s stock worth $85,714,000 after acquiring an additional 33,314 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Thermo Fisher Scientific by 14.2% during the second quarter. Alliancebernstein L.P. now owns 1,092,655 shares of the medical research company’s stock valued at $551,212,000 after purchasing an additional 136,094 shares during the last quarter. Finally, Segment Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 5.5% in the 1st quarter. Segment Wealth Management LLC now owns 4,285 shares of the medical research company’s stock worth $1,956,000 after buying an additional 223 shares during the last quarter. 85.50% of the stock is owned by institutional investors.
NYSE TMO traded up $44.47 during trading hours on Friday, reaching $604.91. The stock had a trading volume of 64,817 shares, compared to its average volume of 1,583,050. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.11 and a current ratio of 2.78. Thermo Fisher Scientific Inc. has a 52-week low of $412.80 and a 52-week high of $575.63. The stock has a fifty day moving average of $543.65 and a 200 day moving average of $495.02. The stock has a market cap of $237.98 billion, a P/E ratio of 27.35, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 annualized dividend and a dividend yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.
A number of research firms have recently issued reports on TMO. The Goldman Sachs Group dropped their price target on Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Benchmark initiated coverage on shares of Thermo Fisher Scientific in a report on Friday, July 16th. They set a “buy” rating and a $580.00 price target on the stock. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. KeyCorp boosted their price objective on Thermo Fisher Scientific from $520.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, July 12th. Finally, Zacks Investment Research cut Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 target price for the company. in a report on Monday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Buy” and a consensus target price of $547.95.
In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $539.05, for a total transaction of $5,390,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jim P. Manzi sold 572 shares of the business’s stock in a transaction on Friday, July 30th. The stock was sold at an average price of $536.54, for a total transaction of $306,900.88. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Further Reading: How does equity income fit into an investing strategy?
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.