Thermo Fisher Scientific Inc. $TMO Shares Bought by Ethic Inc.

Key Points

• Ethic Inc. increased its stake in Thermo Fisher Scientific Inc. by 7.4% in the first quarter, bringing its total holdings to 45,104 shares worth approximately $21.78 million.
• CEO Marc N. Casper sold 8,000 shares for about $3.64 million, indicating a 6.49% decrease in his position in the company.
• The company announced a quarterly dividend of $0.43, with a dividend yield of 0.4%, which will be paid to shareholders on October 15.

Ethic Inc. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,104 shares of the medical research company's stock after purchasing an additional 3,102 shares during the quarter. Ethic Inc.'s holdings in Thermo Fisher Scientific were worth $21,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Nuveen LLC bought a new position in Thermo Fisher Scientific during the first quarter worth $532,360,000. Kovitz Investment Group Partners LLC boosted its stake in Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares in the last quarter. Finally, Farallon Capital Management LLC boosted its stake in Thermo Fisher Scientific by 73.8% during the fourth quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock worth $641,577,000 after acquiring an additional 523,800 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 1.0%

Shares of Thermo Fisher Scientific stock traded up $4.92 during trading on Friday, hitting $489.96. 2,462,453 shares of the stock traded hands, compared to its average volume of 3,059,810. The firm has a market cap of $185.01 billion, a P/E ratio of 28.34, a price-to-earnings-growth ratio of 2.61 and a beta of 0.74. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The stock's fifty day simple moving average is $434.83 and its 200 day simple moving average is $459.02.

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

Thermo Fisher Scientific Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on TMO. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a report on Friday, July 11th. UBS Group upped their price objective on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and set a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Finally, HSBC reiterated a "hold" rating and issued a $510.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the sale, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,037,916.68. This trade represents a 7.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction 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 transaction, the executive vice president owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,400 shares of company stock valued at $8,345,792. Corporate insiders own 0.33% of the company's stock.

About Thermo Fisher Scientific

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.