Quest Partners LLC Buys 4,778 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Quest Partners LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6,924.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,847 shares of the medical research company’s stock after acquiring an additional 4,778 shares during the quarter. Thermo Fisher Scientific comprises about 0.4% of Quest Partners LLC’s portfolio, making the stock its 27th largest holding. Quest Partners LLC’s holdings in Thermo Fisher Scientific were worth $2,680,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Beaumont Financial Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after acquiring an additional 17 shares during the last quarter. Cedar Wealth Management LLC lifted its position in Thermo Fisher Scientific by 14.5% during the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. lifted its position in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. lifted its position in Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its position in Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. 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. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on TMO. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Barclays lowered 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 report on Friday, June 28th. Robert W. Baird increased their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $630.41.

Thermo Fisher Scientific Trading Up 0.7 %

TMO stock opened at $611.33 on Monday. 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 company has a market capitalization of $233.53 billion, a PE ratio of 39.21, a P/E/G ratio of 2.84 and a beta of 0.78. The firm’s 50-day moving average is $584.07 and its 200 day moving average is $578.38. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $5.15 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.