Cohen Lawrence B lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,185 shares of the medical research company’s stock after buying an additional 195 shares during the quarter. Thermo Fisher Scientific accounts for 2.1% of Cohen Lawrence B’s portfolio, making the stock its 18th biggest holding. Cohen Lawrence B’s holdings in Thermo Fisher Scientific were worth $2,991,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of TMO. Private Trust Co. NA boosted its position in Thermo Fisher Scientific by 66.7% during the second quarter. Private Trust Co. NA now owns 3,273 shares of the medical research company’s stock valued at $961,000 after purchasing an additional 1,310 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 4.4% in the first quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock worth $2,578,000 after purchasing an additional 393 shares during the period. Barrett Asset Management LLC increased its stake in shares of Thermo Fisher Scientific by 0.4% in the first quarter. Barrett Asset Management LLC now owns 111,500 shares of the medical research company’s stock worth $30,520,000 after purchasing an additional 395 shares during the period. Gateway Investment Advisers LLC increased its stake in shares of Thermo Fisher Scientific by 45.5% in the second quarter. Gateway Investment Advisers LLC now owns 38,146 shares of the medical research company’s stock worth $11,203,000 after purchasing an additional 11,928 shares during the period. Finally, Highstreet Asset Management Inc. bought a new position in shares of Thermo Fisher Scientific in the first quarter worth about $381,000. Institutional investors and hedge funds own 88.21% of the company’s stock.
A number of research firms have recently commented on TMO. BTIG Research lifted their price objective on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. UBS Group upped their target price on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Argus upped their price objective on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price objective for the company in a research report on Wednesday, June 12th. Finally, Bank of America restated a “buy” rating and issued a $300.00 price objective (up previously from $285.00) on shares of Thermo Fisher Scientific in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $303.17.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the firm earned $2.75 earnings per share. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. Analysts expect that Thermo Fisher Scientific Inc. will post 12.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 16th. This represents a $0.76 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is 6.83%.
In related news, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the sale, the chief financial officer now owns 40,029 shares in the company, valued at approximately $10,739,380.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Martin Harris sold 275 shares of the stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total transaction of $74,450.75. Following the sale, the director now owns 6,433 shares in the company, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. Insiders have sold a total of 52,775 shares of company stock worth $14,986,676 in the last quarter. 0.45% of the stock is currently owned by company insiders.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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