Meiji Yasuda Asset Management Co Ltd. Buys 1,247 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Meiji Yasuda Asset Management Co Ltd. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.5% in the second quarter, HoldingsChannel reports. The firm owned 20,522 shares of the medical research company’s stock after buying an additional 1,247 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Thermo Fisher Scientific were worth $11,349,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the period. True Wealth Design LLC raised its holdings in Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC increased its position in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth about $31,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 6,300 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. 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 three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $610.26 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a market cap of $232.95 billion, a PE ratio of 39.14, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The stock’s fifty day moving average price is $595.23 and its two-hundred day moving average price is $580.77.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Wall Street Analyst Weigh In

TMO has been the subject of a number of analyst reports. TD Cowen lifted their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Finally, Royal Bank of Canada raised their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $632.89.

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.