Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Oak Grove Capital LLC

Oak Grove Capital LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,079 shares of the medical research company’s stock after selling 256 shares during the period. Thermo Fisher Scientific accounts for approximately 1.3% of Oak Grove Capital LLC’s investment portfolio, making the stock its 18th biggest holding. Oak Grove Capital LLC’s holdings in Thermo Fisher Scientific were worth $6,011,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. grew its stake in Thermo Fisher Scientific by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 33,479,957 shares of the medical research company’s stock worth $16,659,627,000 after buying an additional 230,382 shares during the last quarter. Capital World Investors grew its stake in Thermo Fisher Scientific by 1.1% during the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock worth $4,905,812,000 after buying an additional 104,343 shares during the last quarter. Northern Trust Corp grew its stake in Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock worth $2,034,107,000 after buying an additional 455,004 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Thermo Fisher Scientific by 4.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,925,591 shares of the medical research company’s stock worth $1,455,774,000 after buying an additional 115,463 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on TMO. Evercore ISI dropped their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $535.00 target price (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, UBS Group lifted their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $593.00.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $485.62 on Friday. The stock has a fifty day moving average price of $433.08 and a 200 day moving average price of $461.44. The stock has a market cap of $183.38 billion, a PE ratio of 28.09, a P/E/G ratio of 2.59 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. The firm had revenue of $10.86 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. Thermo Fisher Scientific’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 earnings per share. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is 9.95%.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company’s stock, valued at $52,037,916.68. The trade was a 7.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the transaction, the executive vice president directly owned 22,367 shares of the company’s stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,400 shares of company stock valued at $8,345,792. Insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, 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, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.