Vaquero Private Wealth Ltd. bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,972 shares of the medical research company’s stock, valued at approximately $989,000.
A number of other large investors also recently bought and sold shares of the stock. Legacy Wealth Managment LLC ID grew its stake in shares of Thermo Fisher Scientific by 78.6% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 50 shares of the medical research company’s stock worth $25,000 after purchasing an additional 22 shares during the period. Allied Private Wealth LLC purchased a new stake in Thermo Fisher Scientific during the second quarter worth $26,000. High Note Wealth LLC grew its position in Thermo Fisher Scientific by 170.6% during the fourth quarter. High Note Wealth LLC now owns 46 shares of the medical research company’s stock valued at $27,000 after buying an additional 29 shares during the period. Swiss RE Ltd. purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at $28,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth about $28,000. 89.23% of the stock is owned by institutional investors and hedge funds.
Thermo Fisher Scientific Price Performance
Shares of Thermo Fisher Scientific stock opened at $588.17 on Monday. The stock has a market capitalization of $217.48 billion, a P/E ratio of 31.64, a PEG ratio of 2.39 and a beta of 0.84. The business has a 50 day simple moving average of $529.37 and a two-hundred day simple moving average of $508.75. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $643.99. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.55 and a quick ratio of 1.18.
Thermo Fisher Scientific Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be given a dividend of $0.47 per share. The ex-dividend date is Tuesday, September 15th. This represents a $1.88 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s payout ratio is presently 10.11%.
Insider Activity at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, COO Gianluca Pettiti sold 400 shares of the stock in a transaction dated Monday, July 27th. The shares were sold at an average price of $565.00, for a total value of $226,000.00. Following the completion of the sale, the chief operating officer owned 24,651 shares in the company, valued at approximately $13,927,815. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael D. Shafer sold 25,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $600.00, for a total value of $15,300,000.00. Following the transaction, the executive vice president owned 20,994 shares in the company, valued at approximately $12,596,400. This represents a 54.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 52,053 shares of company stock worth $30,643,589 in the last 90 days. 0.33% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on TMO shares. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $675.00 to $615.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $630.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 23rd. Piper Sandler raised their price objective on Thermo Fisher Scientific from $510.00 to $600.00 and gave the company a “neutral” rating in a report on Monday, July 27th. HSBC downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating and reduced their target price for the stock from $670.00 to $540.00 in a research note on Wednesday, June 3rd. Finally, Sanford C. Bernstein started coverage on shares of Thermo Fisher Scientific in a research note on Friday, June 26th. They issued a “market perform” rating and a $520.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $619.41.
Check Out Our Latest Stock Analysis on TMO
About Thermo Fisher Scientific
Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.
Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.
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