Sterling Investment Management LLC Purchases New Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sterling Investment Management LLC purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,058 shares of the medical research company’s stock, valued at approximately $1,074,000.

Several other institutional investors have also bought and sold shares of TMO. Arrowstreet Capital Limited Partnership raised its stake in Thermo Fisher Scientific by 3.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 681,679 shares of the medical research company’s stock valued at $392,899,000 after acquiring an additional 24,376 shares during the period. American Trust raised its stake in Thermo Fisher Scientific by 13.2% in the 1st quarter. American Trust now owns 6,743 shares of the medical research company’s stock valued at $3,886,000 after acquiring an additional 784 shares during the period. First Manhattan CO. LLC. grew its stake in Thermo Fisher Scientific by 11.2% in the 1st quarter. First Manhattan CO. LLC. now owns 724,844 shares of the medical research company’s stock valued at $417,779,000 after buying an additional 72,792 shares in the last quarter. Verity Asset Management Inc. raised its holdings in Thermo Fisher Scientific by 83.4% during the 1st quarter. Verity Asset Management Inc. now owns 820 shares of the medical research company’s stock valued at $473,000 after acquiring an additional 373 shares during the period. Finally, Aureus Asset Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Aureus Asset Management LLC now owns 50,945 shares of the medical research company’s stock worth $28,055,000 after acquiring an additional 291 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $549.00, for a total value of $5,490,000.00. Following the transaction, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at $77,590,170. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Stephen Williamson sold 14,100 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total value of $7,755,000.00. Following the sale, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total value of $5,490,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at approximately $77,590,170. The disclosure for this sale can be found here. Insiders have sold a total of 28,700 shares of company stock valued at $15,799,270 over the last three months. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. KeyCorp dropped their price objective on Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. Barclays boosted their price objective on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. Finally, Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, September 6th. They set a “buy” rating and a $625.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.71.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $3.31 during trading on Tuesday, hitting $504.42. 280,929 shares of the stock traded hands, compared to its average volume of 1,493,186. Thermo Fisher Scientific Inc. has a 52 week low of $475.77 and a 52 week high of $609.85. The stock has a market cap of $194.68 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 2.43 and a beta of 0.77. The firm’s fifty day moving average is $540.37 and its 200-day moving average is $541.53. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 26th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same period last year, the company posted $5.51 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts expect that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.57%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.