Freemont Management S.A. Has $2.24 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Freemont Management S.A. significantly increased its stake in Thermo Fisher Scientific by 181.3%, bringing its holdings to 4,500 shares valued at approximately $2.24 million.
• Thermo Fisher Scientific reported a quarterly earnings per share of $5.36, beating expectations, with revenue reaching $10.86 billion, a 2.9% increase year-over-year.
• The company announced a quarterly dividend of $0.43 per share, with the ex-dividend date set for September 15, indicating a dividend yield of 0.36%.

Freemont Management S.A. increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 181.3% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,500 shares of the medical research company's stock after purchasing an additional 2,900 shares during the quarter. Freemont Management S.A.'s holdings in Thermo Fisher Scientific were worth $2,239,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Assetmark Inc. increased its stake in Thermo Fisher Scientific by 0.4% during the 1st quarter. Assetmark Inc. now owns 38,063 shares of the medical research company's stock worth $18,940,000 after purchasing an additional 163 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Thermo Fisher Scientific by 13.3% in the first quarter. Cetera Investment Advisers now owns 65,818 shares of the medical research company's stock worth $32,751,000 after purchasing an additional 7,703 shares in the last quarter. Principle Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 3.4% during the first quarter. Principle Wealth Partners LLC now owns 3,237 shares of the medical research company's stock worth $1,611,000 after purchasing an additional 105 shares during the last quarter. Davis Rea LTD. increased its stake in Thermo Fisher Scientific by 28.9% in the 1st quarter. Davis Rea LTD. now owns 37,712 shares of the medical research company's stock valued at $18,778,000 after buying an additional 8,452 shares during the last quarter. Finally, Lifeworks Advisors LLC acquired a new stake in Thermo Fisher Scientific during the 1st quarter valued at $225,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Up 1.8%

Shares of TMO opened at $475.16 on Friday. The stock has a market capitalization of $179.37 billion, a P/E ratio of 27.48, a PEG ratio of 2.25 and a beta of 0.77. The company has a quick ratio of 1.38, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The firm has a fifty day simple moving average of $412.43 and a two-hundred day simple moving average of $470.68. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.37 earnings per share. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. Thermo Fisher Scientific's dividend payout ratio is 10.09%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TMO shares. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. UBS Group upped their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday. HSBC reaffirmed a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday. Finally, Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $593.00.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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