Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp has reduced its stake in Thermo Fisher Scientific by 1.5%, now holding approximately 0.20% of the company, valued at $382.37 million.
• A variety of institutional investors, including Vanguard Group and T. Rowe Price, have increased their holdings in Thermo Fisher Scientific, reflecting strong interest in the company.
• Thermo Fisher Scientific recently reported earnings of $5.36 per share, surpassing analysts' expectations, alongside a forecasting of 23.28 earnings per share for the current fiscal year.

King Luther Capital Management Corp lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 768,433 shares of the medical research company's stock after selling 11,373 shares during the quarter. Thermo Fisher Scientific comprises about 1.8% of King Luther Capital Management Corp's portfolio, making the stock its 11th biggest holding. King Luther Capital Management Corp owned about 0.20% of Thermo Fisher Scientific worth $382,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after buying an additional 20 shares during the period. Port Capital LLC raised its position in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after acquiring an additional 22 shares in the last quarter. Clark Capital Management Group Inc. raised its position in shares of Thermo Fisher Scientific by 0.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock worth $2,312,000 after acquiring an additional 23 shares in the last quarter. Monograph Wealth Advisors LLC raised its position in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after acquiring an additional 23 shares in the last quarter. Finally, Intergy Private Wealth LLC increased its position in Thermo Fisher Scientific by 5.8% during the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 8,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total transaction of $3,635,600.00. Following the sale, the chief executive officer directly owned 115,174 shares in the company, valued at approximately $52,340,824.30. This represents a 6.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,400 shares of company stock worth $8,345,792 in the last 90 days. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Up 1.7%

TMO traded up $8.31 on Wednesday, reaching $485.72. The company's stock had a trading volume of 2,054,775 shares, compared to its average volume of 2,501,960. The business's 50 day moving average is $429.68 and its 200 day moving average is $461.95. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The stock has a market cap of $183.41 billion, a price-to-earnings ratio of 28.09, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

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

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. HSBC reaffirmed a "hold" rating and set a $510.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Wall Street Zen downgraded Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research note on Sunday. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research note on Friday, July 11th. Finally, Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific 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.