JustInvest LLC Increases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

JustInvest LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 66.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 9,084 shares of the medical research company’s stock after acquiring an additional 3,626 shares during the quarter. Thermo Fisher Scientific comprises 0.5% of JustInvest LLC’s investment portfolio, making the stock its 24th largest holding. JustInvest LLC’s holdings in Thermo Fisher Scientific were worth $4,583,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Morgan Stanley raised its holdings in Thermo Fisher Scientific by 7.3% during the first quarter. Morgan Stanley now owns 8,293,242 shares of the medical research company’s stock worth $3,784,871,000 after purchasing an additional 566,814 shares in the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.6% during the first quarter. Geode Capital Management LLC now owns 5,896,819 shares of the medical research company’s stock worth $2,683,200,000 after purchasing an additional 93,794 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Thermo Fisher Scientific by 1.2% during the first quarter. JPMorgan Chase & Co. now owns 4,560,676 shares of the medical research company’s stock worth $2,081,402,000 after purchasing an additional 53,508 shares in the last quarter. Primecap Management Co. CA raised its holdings in Thermo Fisher Scientific by 0.9% during the first quarter. Primecap Management Co. CA now owns 4,487,174 shares of the medical research company’s stock worth $2,047,856,000 after purchasing an additional 41,649 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Thermo Fisher Scientific by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 3,611,725 shares of the medical research company’s stock worth $1,648,320,000 after purchasing an additional 63,408 shares in the last quarter. 85.50% of the stock is owned by institutional investors and hedge funds.

In other news, Director Jim P. Manzi sold 572 shares of the firm’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $536.54, for a total value of $306,900.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total transaction of $5,390,500.00. The disclosure for this sale can be found here. Company insiders own 0.44% of the company’s stock.

Several research analysts have weighed in on TMO shares. Benchmark started coverage on shares of Thermo Fisher Scientific in a research report on Friday, July 16th. They set a “buy” rating and a $580.00 target price on the stock. Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 23rd. KeyCorp upped their target price on shares of Thermo Fisher Scientific from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, July 12th. SVB Leerink reiterated an “outperform” rating on shares of Thermo Fisher Scientific in a research report on Monday, July 19th. Finally, BTIG Research increased their price target on shares of Thermo Fisher Scientific from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. 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 company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Buy” and an average price target of $547.95.

NYSE TMO traded up $45.95 during mid-day trading on Friday, reaching $606.39. 88,025 shares of the stock were exchanged, compared to its average volume of 1,583,050. Thermo Fisher Scientific Inc. has a 1-year low of $412.80 and a 1-year high of $575.63. The business’s fifty day simple moving average is $543.65 and its 200 day simple moving average is $495.02. The stock has a market capitalization of $238.57 billion, a PE ratio of 27.35, a PEG ratio of 1.33 and a beta of 0.74. 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 (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.51 by $0.09. The company had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.75 billion. Thermo Fisher Scientific had a net margin of 22.47% and a return on equity of 29.43%. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.17%. The ex-dividend date is Tuesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.

About Thermo Fisher Scientific

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.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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