Regent Investment Management LLC Decreases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Regent Investment Management LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,598 shares of the medical research company’s stock after selling 127 shares during the period. Thermo Fisher Scientific comprises about 1.0% of Regent Investment Management LLC’s holdings, making the stock its 23rd largest position. Regent Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $3,585,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 31,457,999 shares of the medical research company’s stock valued at $18,580,667,000 after purchasing an additional 354,211 shares during the last quarter. BlackRock Inc. raised its stake in Thermo Fisher Scientific by 3.8% in the 4th quarter. BlackRock Inc. now owns 30,982,611 shares of the medical research company’s stock valued at $20,672,838,000 after purchasing an additional 1,143,333 shares during the last quarter. State Street Corp raised its stake in Thermo Fisher Scientific by 3.4% in the 4th quarter. State Street Corp now owns 16,223,173 shares of the medical research company’s stock valued at $10,828,875,000 after purchasing an additional 529,712 shares during the last quarter. Capital Research Global Investors raised its stake in Thermo Fisher Scientific by 2.3% in the 4th quarter. Capital Research Global Investors now owns 9,454,032 shares of the medical research company’s stock valued at $6,308,097,000 after purchasing an additional 208,075 shares during the last quarter. Finally, Norges Bank acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $2,784,029,000. 86.50% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $588.36, for a total transaction of $5,883,600.00. Following the transaction, the chief executive officer now directly owns 183,373 shares in the company, valued at $107,889,338.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 814 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $597.24, for a total value of $486,153.36. Following the sale, the director now directly owns 15,807 shares of the company’s stock, valued at $9,440,572.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $588.36, for a total value of $5,883,600.00. Following the completion of the sale, the chief executive officer now directly owns 183,373 shares in the company, valued at $107,889,338.28. The disclosure for this sale can be found here. Insiders have sold 55,397 shares of company stock worth $33,012,754 over the last ninety days. 0.43% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Down 0.9 %

NYSE TMO traded down $4.55 on Friday, reaching $515.74. The company had a trading volume of 21,100 shares, compared to its average volume of 1,076,331. The firm has a market capitalization of $202.06 billion, a PE ratio of 27.46, a P/E/G ratio of 1.64 and a beta of 0.85. Thermo Fisher Scientific Inc. has a 1 year low of $497.83 and a 1 year high of $672.34. The firm has a 50-day moving average of $567.60 and a 200-day moving average of $558.21. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.65 and a quick ratio of 1.13.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last released its earnings results on Thursday, July 28th. The medical research company reported $5.51 EPS for the quarter, beating the consensus estimate of $4.92 by $0.59. The company had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $9.95 billion. Thermo Fisher Scientific had a return on equity of 24.36% and a net margin of 17.37%. The business’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the business posted $5.60 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 22.92 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Stockholders of record on Thursday, September 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Wednesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 6.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on TMO shares. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $670.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, July 29th. SVB Leerink upped their price objective on shares of Thermo Fisher Scientific from $630.00 to $650.00 and gave the company an “outperform” rating in a research note on Friday, July 29th. Credit Suisse Group started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, August 24th. They set a “neutral” rating and a $675.00 price objective for the company. Finally, Barclays dropped their price objective on shares of Thermo Fisher Scientific from $685.00 to $595.00 and set an “overweight” rating for the company in a research note on Monday, September 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $656.56.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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

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