Thermo Fisher Scientific Inc. (TMO) Position Reduced by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 251,521 shares of the medical research company’s stock after selling 6,941 shares during the quarter. Thermo Fisher Scientific makes up 2.6% of Prio Wealth Limited Partnership’s holdings, making the stock its 6th largest holding. Prio Wealth Limited Partnership’s holdings in Thermo Fisher Scientific were worth $52,100,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also made changes to their positions in the company. Pitcairn Co. raised its stake in shares of Thermo Fisher Scientific by 1.3% in the 2nd quarter. Pitcairn Co. now owns 16,871 shares of the medical research company’s stock valued at $3,495,000 after buying an additional 215 shares in the last quarter. Front Row Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 4.0% in the 1st quarter. Front Row Advisors LLC now owns 6,049 shares of the medical research company’s stock valued at $1,249,000 after buying an additional 234 shares in the last quarter. Nvwm LLC raised its stake in shares of Thermo Fisher Scientific by 6.1% in the 2nd quarter. Nvwm LLC now owns 4,231 shares of the medical research company’s stock valued at $877,000 after buying an additional 242 shares in the last quarter. Middleton & Co Inc MA raised its stake in shares of Thermo Fisher Scientific by 2.4% in the 2nd quarter. Middleton & Co Inc MA now owns 10,873 shares of the medical research company’s stock valued at $2,252,000 after buying an additional 253 shares in the last quarter. Finally, Crossmark Global Holdings Inc. raised its stake in shares of Thermo Fisher Scientific by 2.6% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,265 shares of the medical research company’s stock valued at $2,126,000 after buying an additional 259 shares in the last quarter. Institutional investors own 85.88% of the company’s stock.

In other Thermo Fisher Scientific news, Director C Martin Harris sold 206 shares of the stock in a transaction dated Friday, May 18th. The shares were sold at an average price of $214.43, for a total transaction of $44,172.58. Following the sale, the director now owns 5,106 shares of the company’s stock, valued at approximately $1,094,879.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the sale, the chief executive officer now directly owns 320,122 shares in the company, valued at approximately $74,892,541.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,256 shares of company stock worth $37,629,201. 0.49% of the stock is owned by insiders.

TMO opened at $231.42 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58. Thermo Fisher Scientific Inc. has a twelve month low of $170.07 and a twelve month high of $236.29. The stock has a market capitalization of $93.95 billion, a PE ratio of 22.53, a PEG ratio of 1.70 and a beta of 1.13.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The business had revenue of $6.08 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same quarter in the prior year, the firm earned $2.30 EPS. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. analysts expect that Thermo Fisher Scientific Inc. will post 10.98 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, September 14th. Thermo Fisher Scientific’s payout ratio is 7.17%.

Several equities research analysts have recently weighed in on TMO shares. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $233.00 to $242.00 and gave the stock an “overweight” rating in a report on Thursday, July 26th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $300.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, ValuEngine lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average price target of $239.08.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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

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