SeaBridge Investment Advisors LLC Sells 322 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

SeaBridge Investment Advisors LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,430 shares of the medical research company’s stock after selling 322 shares during the quarter. Thermo Fisher Scientific makes up 1.7% of SeaBridge Investment Advisors LLC’s portfolio, making the stock its 14th largest holding. SeaBridge Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $5,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at $26,000. Cullen Frost Bankers Inc. increased its stake in shares of Thermo Fisher Scientific by 2.8% in the first quarter. Cullen Frost Bankers Inc. now owns 9,352 shares of the medical research company’s stock valued at $4,268,000 after buying an additional 255 shares in the last quarter. Unigestion Holding SA increased its position in Thermo Fisher Scientific by 46.1% in the first quarter. Unigestion Holding SA now owns 3,161 shares of the medical research company’s stock worth $1,443,000 after purchasing an additional 997 shares during the period. Avidian Wealth Solutions LLC increased its position in Thermo Fisher Scientific by 5.8% in the first quarter. Avidian Wealth Solutions LLC now owns 1,891 shares of the medical research company’s stock worth $863,000 after purchasing an additional 103 shares during the period. Finally, Donaldson Capital Management LLC increased its position in Thermo Fisher Scientific by 3.5% in the first quarter. Donaldson Capital Management LLC now owns 1,478 shares of the medical research company’s stock worth $674,000 after purchasing an additional 50 shares during the period. 85.50% of the stock is owned by institutional investors.

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total transaction of $5,390,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jim P. Manzi sold 572 shares of the company’s stock in a transaction on Friday, July 30th. The shares were sold at an average price of $536.54, for a total value of $306,900.88. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

A number of brokerages recently commented on TMO. Zacks Investment Research lowered Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price objective for the company. in a research report on Monday, July 12th. BTIG Research raised their target price on Thermo Fisher Scientific from $590.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, July 29th. Benchmark initiated coverage on Thermo Fisher Scientific in a report on Friday, July 16th. They set a “buy” rating and a $580.00 target price on the stock. Cowen lifted their price objective on Thermo Fisher Scientific from $525.00 to $560.00 and gave the company an “outperform” rating in a report on Thursday, July 29th. Finally, Argus lifted their price objective on Thermo Fisher Scientific from $530.00 to $600.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $547.95.

Shares of TMO stock traded up $0.51 during trading on Wednesday, reaching $562.91. 15,742 shares of the company’s stock were exchanged, compared to its average volume of 1,587,995. The company has a quick ratio of 2.11, a current ratio of 2.78 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $221.46 billion, a PE ratio of 26.07, a PEG ratio of 1.33 and a beta of 0.74. Thermo Fisher Scientific Inc. has a twelve month low of $412.80 and a twelve month high of $575.63. The firm’s fifty day moving average price is $542.01 and its 200-day moving average price is $494.08.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, topping analysts’ consensus estimates of $5.51 by $0.09. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend is Tuesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is 5.32%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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