Great Lakes Advisors LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Great Lakes Advisors LLC lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the second quarter, Holdings Channel reports. The firm owned 197,419 shares of the medical research company’s stock after selling 11,129 shares during the quarter. Thermo Fisher Scientific accounts for 1.0% of Great Lakes Advisors LLC’s investment portfolio, making the stock its 25th biggest holding. Great Lakes Advisors LLC’s holdings in Thermo Fisher Scientific were worth $109,173,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. One Wealth Management Investment & Advisory Services LLC increased its holdings in shares of Thermo Fisher Scientific by 4.3% in the second quarter. One Wealth Management Investment & Advisory Services LLC now owns 2,362 shares of the medical research company’s stock valued at $1,306,000 after purchasing an additional 98 shares during the period. Los Angeles Capital Management LLC raised its position in Thermo Fisher Scientific by 47.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 5,643 shares of the medical research company’s stock worth $3,121,000 after buying an additional 1,815 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Thermo Fisher Scientific by 2.8% during the second quarter. Cullen Frost Bankers Inc. now owns 27,831 shares of the medical research company’s stock worth $15,391,000 after purchasing an additional 764 shares in the last quarter. Lake Street Advisors Group LLC lifted its position in Thermo Fisher Scientific by 3.2% in the second quarter. Lake Street Advisors Group LLC now owns 4,172 shares of the medical research company’s stock valued at $2,309,000 after purchasing an additional 130 shares during the period. Finally, UNIVEST FINANCIAL Corp raised its stake in shares of Thermo Fisher Scientific by 1.0% during the 2nd quarter. UNIVEST FINANCIAL Corp now owns 11,225 shares of the medical research company’s stock worth $6,207,000 after buying an additional 110 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.7 %

NYSE TMO traded up $4.45 during mid-day trading on Friday, reaching $611.33. 1,868,789 shares of the stock were exchanged, compared to its average volume of 938,285. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $622.30. The stock has a market capitalization of $233.35 billion, a PE ratio of 39.21, a PEG ratio of 2.85 and a beta of 0.78. The business’s fifty day simple moving average is $584.07 and its 200 day simple moving average is $577.99. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.15 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Analyst Ratings Changes

A number of research firms have commented on TMO. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Royal Bank of Canada lifted their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays lowered their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $630.41.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last quarter. Company insiders own 0.34% 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.