DnB Asset Management AS decreased its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 85,148 shares of the medical research company’s stock after selling 500 shares during the period. DnB Asset Management AS’s holdings in Thermo Fisher Scientific were worth $14,856,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in Thermo Fisher Scientific by 2.7% in the first quarter. Vanguard Group Inc. now owns 25,971,301 shares of the medical research company’s stock valued at $3,989,193,000 after buying an additional 695,079 shares in the last quarter. BlackRock Inc. boosted its position in Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock valued at $3,531,095,000 after buying an additional 22,165,530 shares in the last quarter. State Street Corp boosted its position in Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock valued at $2,470,802,000 after buying an additional 164,367 shares in the last quarter. Wellington Management Group LLP boosted its position in Thermo Fisher Scientific by 5.6% in the first quarter. Wellington Management Group LLP now owns 7,512,152 shares of the medical research company’s stock valued at $1,153,867,000 after buying an additional 398,622 shares in the last quarter. Finally, Morgan Stanley boosted its position in Thermo Fisher Scientific by 7.6% in the first quarter. Morgan Stanley now owns 4,664,882 shares of the medical research company’s stock valued at $716,526,000 after buying an additional 327,826 shares in the last quarter. Institutional investors and hedge funds own 87.60% of the company’s stock.

Shares of Thermo Fisher Scientific Inc (NYSE:TMO) traded up 0.72% during midday trading on Friday, reaching $177.22. 1,537,681 shares of the company traded hands. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $182.87. The stock’s 50-day moving average is $176.80 and its 200-day moving average is $167.41. The stock has a market capitalization of $69.14 billion, a P/E ratio of 30.87 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the prior year, the business posted $2.03 earnings per share. Thermo Fisher Scientific’s revenue was up 10.2% compared to the same quarter last year. Equities analysts predict that Thermo Fisher Scientific Inc will post $9.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is 10.45%.

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Several equities analysts recently issued reports on the stock. Bank of America Corporation reiterated a “buy” rating and issued a $210.00 target price (up from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Barclays PLC reiterated an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Thermo Fisher Scientific in a research note on Monday, July 17th. Cleveland Research upgraded shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a research note on Thursday, July 20th. Wells Fargo & Company reiterated an “outperform” rating and issued a $200.00 target price (up from $195.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 13th. Finally, BidaskClub upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 11th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $188.56.

In other news, CEO Marc N. Casper sold 20,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the completion of the sale, the chief executive officer now directly owns 269,279 shares of the company’s stock, valued at $46,528,718.41. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $176.26, for a total value of $440,650.00. Following the sale, the chief financial officer now directly owns 37,790 shares of the company’s stock, valued at $6,660,865.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,818 shares of company stock valued at $6,028,985. 0.49% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four 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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