Prudential PLC buys 1,024 shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Prudential PLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 12.6% in the second quarter, according to the company in its most recent SEC disclosure. The firm owned 9,178 shares of the medical research company’s stock after acquiring an additional 1,024 shares during the quarter. Prudential PLC’s holdings in Thermo Fisher Scientific were worth $5,075,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have recently made changes to their positions in TMO. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. True Wealth Design LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 51 shares during the period. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. 89.23% of shares are held by institutional investors.

Indoor activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 over the last three months. Corporate insiders own 0.34% of the company’s shares.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific opened at $624.21 on Wednesday. The firm has a market cap of $238.45 billion, a P/E ratio of 40.04, a PEG ratio of 2.84 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a 50-day moving average of $587.45 and a 200-day moving average of $579.22. The company has a current ratio of 1.72, a quick ratio of 1.37, and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report ) last announced its earnings results 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 firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was down 1.4% year over year. In the same period last year, the company posted EPS of $5.15. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific announces dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. This represents a dividend of $1.56 on an annualized basis and a yield of 0.25%. The ex-dividend date is Friday, September 13. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Analysts on Wall Street are forecasting an increase

A number of research analysts recently issued reports on TMO shares. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada raised 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. TD Cowen lifted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th . Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $630.41, according to data from MarketBeat.com.

Check out the latest stock report on TMO

Thermo Fisher Scientific 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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