Parsons Capital Management Inc. RI Acquires 689 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Parsons Capital Management Inc. RI grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,416 shares of the medical research company’s stock after purchasing an additional 689 shares during the period. Thermo Fisher Scientific makes up about 1.1% of Parsons Capital Management Inc. RI’s holdings, making the stock its 15th biggest position. Parsons Capital Management Inc. RI’s holdings in Thermo Fisher Scientific were worth $10,401,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TMO. FMR LLC raised its position in shares of Thermo Fisher Scientific by 33.5% in the first quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock valued at $3,167,647,000 after purchasing an additional 2,900,868 shares during the period. BlackRock Inc. raised its position in shares of Thermo Fisher Scientific by 4.1% in the first quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock valued at $7,459,327,000 after purchasing an additional 1,074,400 shares during the period. Marshall Wace LLP raised its position in shares of Thermo Fisher Scientific by 361.8% in the first quarter. Marshall Wace LLP now owns 775,103 shares of the medical research company’s stock valued at $212,161,000 after purchasing an additional 607,245 shares during the period. Janus Henderson Group PLC raised its position in shares of Thermo Fisher Scientific by 22.9% in the second quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock valued at $877,186,000 after purchasing an additional 555,802 shares during the period. Finally, Swedbank bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $111,710,000. 88.21% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific stock traded up $3.86 during midday trading on Thursday, reaching $273.34. 51,785 shares of the stock were exchanged, compared to its average volume of 1,592,969. The firm has a fifty day simple moving average of $287.70. The company has a current ratio of 1.49, a quick ratio of 1.07 and a debt-to-equity ratio of 0.58. The stock has a market cap of $108.93 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 1.78 and a beta of 1.11. Thermo Fisher Scientific Inc. has a 52 week low of $208.34 and a 52 week high of $305.45.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.03. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. Thermo Fisher Scientific’s revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.75 EPS. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.83%.

In related news, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at approximately $97,466,832.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director C Martin Harris sold 275 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total transaction of $74,450.75. Following the sale, the director now directly owns 6,433 shares in the company, valued at approximately $1,741,606.09. The disclosure for this sale can be found here. Insiders have sold a total of 52,775 shares of company stock worth $14,986,676 in the last ninety days. 0.45% of the stock is currently owned by insiders.

Several analysts have recently issued reports on TMO shares. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target on the stock in a research report on Wednesday, June 12th. Barclays set a $330.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. Credit Suisse Group reissued a “buy” rating and issued a $310.00 price target on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. UBS Group boosted their price target on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, BTIG Research boosted their price target on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus target price of $303.17.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services 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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