Gradient Investments LLC buys 1,939 shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Gradient Investments LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 11.8% during the second quarter, Holdings Channel reports. The firm owned 18,366 shares of the medical research company’s stock after purchasing an additional 1,939 shares during the quarter. Gradient Investments LLC’s holdings in Thermo Fisher Scientific were worth $10,156,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $29,000. True Wealth Design LLC raised its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares during the period. LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s shares.

Insider Trading at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,084 shares of company stock worth $19,767,092. Corporate insiders own 0.34% of the company’s shares.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $603.98 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $622.30. The company has a market cap of $230.72 billion, a price-to-earnings ratio of 38.74, a PEG ratio of 2.80 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.37, and a debt-to-equity ratio of 0.64. The stock has a 50-day moving average of $570.86 and a 200-day moving average of $571.81.

Thermo Fisher Scientific (NYSE:TMO – Get Your Free Report ) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. Thermo Fisher Scientific’s revenue fell 1.4% year over year. In the same quarter last year, the company earned $5.15 per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.39 dividend. This represents a dividend of $1.56 on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Analyst upgrades and downgrades

TMO has been the subject of several research reports. HSBC upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Royal Bank of Canada boosted their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen boosted their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Barclays cut their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th . Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $618.94.

Read our latest report on TMO

Thermo Fisher Scientific Company Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics and laboratory products and biopharmaceutical services in North America, Europe, Asia-Pacific and internationally. The company’s Life Sciences Solutions segment provides reagents, instruments and supplies for biological and medical research, drug and vaccine discovery and production, and infection and disease diagnosis; and solutions include biosciences, genetic sciences and biological manufacturing for the pharmaceutical, biotech, agricultural, clinical, healthcare, academic and government markets.

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