Premier Asset Management LLC Decreases Stake in Thermo Fisher Scientific Inc. (TMO)
Premier Asset Management LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,623 shares of the medical research company’s stock after selling 500 shares during the period. Thermo Fisher Scientific makes up 1.9% of Premier Asset Management LLC’s investment portfolio, making the stock its 28th largest holding. Premier Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $8,443,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $108,000. Shine Investment Advisory Services Inc. purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $113,000. Ropes Wealth Advisors LLC increased its holdings in Thermo Fisher Scientific by 15.8% during the second quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after buying an additional 97 shares during the last quarter. Atlantic Trust LLC purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $138,000. Finally, Grove Bank & Trust increased its holdings in Thermo Fisher Scientific by 19.9% during the second quarter. Grove Bank & Trust now owns 860 shares of the medical research company’s stock valued at $150,000 after buying an additional 143 shares during the last quarter. 86.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Thermo Fisher Scientific Inc. (TMO) opened at $193.89 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. The stock has a market cap of $77,620.68, a price-to-earnings ratio of 21.27, a PEG ratio of 1.77 and a beta of 1.06. Thermo Fisher Scientific Inc. has a 52 week low of $139.88 and a 52 week high of $201.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.19%.
In other news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $191.74, for a total value of $9,587,000.00. Following the completion of the sale, the chief executive officer now directly owns 302,577 shares of the company’s stock, valued at $58,016,113.98. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.49% of the company’s stock.
A number of analysts have commented on the stock. Leerink Swann reaffirmed an “outperform” rating and set a $200.00 target price (down from $216.00) on shares of Thermo Fisher Scientific in a report on Monday, December 4th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Tuesday, October 31st. Deutsche Bank set a $226.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. Jefferies Group reaffirmed a “hold” rating and set a $195.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, September 28th. Finally, Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, September 26th. They set a “buy” rating and a $225.00 target price for the company. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus target price of $205.21.
Thermo Fisher Scientific Profile
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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