Hallmark Capital Management Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 50.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,372 shares of the medical research company’s stock after selling 1,391 shares during the period. Hallmark Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $403,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in TMO. BlackRock Inc. boosted its stake in shares of Thermo Fisher Scientific by 4.1% in the 1st quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock valued at $7,459,327,000 after purchasing an additional 1,074,400 shares in the last quarter. FMR LLC raised its holdings in Thermo Fisher Scientific by 33.5% during the 1st quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock worth $3,167,647,000 after purchasing an additional 2,900,868 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Thermo Fisher Scientific by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 3,089,195 shares of the medical research company’s stock worth $845,574,000 after purchasing an additional 71,898 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Thermo Fisher Scientific by 22.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock worth $877,186,000 after purchasing an additional 555,802 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Thermo Fisher Scientific by 0.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,706,326 shares of the medical research company’s stock valued at $605,651,000 after purchasing an additional 17,860 shares during the period. Institutional investors and hedge funds own 88.19% of the company’s stock.
Several equities analysts recently issued reports on the company. Credit Suisse Group reiterated a “buy” rating and issued a $310.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research report on Wednesday, June 12th. BTIG Research upped their price target on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, UBS Group upped their price target on Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $303.17.
TMO opened at $294.54 on Friday. The business’s fifty day moving average is $280.90 and its 200-day moving average is $276.38. The firm has a market cap of $115.94 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 1.89 and a beta of 1.12. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.07 and a current ratio of 1.49. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.03. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. Thermo Fisher Scientific’s revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $2.75 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a $0.19 dividend. The ex-dividend date is Monday, September 16th. This represents a $0.76 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
In related news, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $272.93, for a total transaction of $500,280.69. Following the transaction, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total value of $14,241,500.00. Following the transaction, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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