Optimal Asset Management Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 65.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,810 shares of the medical research company’s stock after selling 3,500 shares during the period. Optimal Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $826,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Meridian Management Co. raised its stake in shares of Thermo Fisher Scientific by 1.3% during the first quarter. Meridian Management Co. now owns 9,166 shares of the medical research company’s stock valued at $4,183,000 after acquiring an additional 121 shares during the last quarter. Factory Mutual Insurance Co. increased its position in shares of Thermo Fisher Scientific by 21.6% during the first quarter. Factory Mutual Insurance Co. now owns 187,814 shares of the medical research company’s stock worth $85,714,000 after buying an additional 33,314 shares during the period. Gradient Investments LLC increased its position in shares of Thermo Fisher Scientific by 23.5% during the first quarter. Gradient Investments LLC now owns 15,078 shares of the medical research company’s stock worth $6,881,000 after buying an additional 2,868 shares during the period. Segment Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 5.5% during the first quarter. Segment Wealth Management LLC now owns 4,285 shares of the medical research company’s stock worth $1,956,000 after buying an additional 223 shares during the period. Finally, Quantbot Technologies LP grew its holdings in shares of Thermo Fisher Scientific by 1,291.8% during the first quarter. Quantbot Technologies LP now owns 14,391 shares of the medical research company’s stock valued at $6,567,000 after buying an additional 13,357 shares during the last quarter. 85.90% of the stock is owned by institutional investors and hedge funds.
Shares of TMO opened at $514.26 on Thursday. The company has a market cap of $202.12 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.21 and a beta of 0.76. The company has a current ratio of 2.53, a quick ratio of 1.91 and a debt-to-equity ratio of 0.53. Thermo Fisher Scientific Inc. has a fifty-two week low of $399.16 and a fifty-two week high of $532.57. The business has a 50 day simple moving average of $483.14.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 dividend on an annualized basis and a yield of 0.20%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.
In related news, EVP Michel Lagarde sold 34,168 shares of the company’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $472.60, for a total transaction of $16,147,796.80. Following the completion of the sale, the executive vice president now directly owns 52,629 shares in the company, valued at approximately $24,872,465.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.44% of the company’s stock.
A number of research analysts recently weighed in on the stock. UBS Group dropped their price target on shares of Thermo Fisher Scientific from $588.00 to $560.00 and set a “buy” rating on the stock in a research report on Monday, March 29th. Evercore ISI raised their price target on shares of Thermo Fisher Scientific from $525.00 to $540.00 and gave the company an “outperform” rating in a research report on Friday, April 16th. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price objective on the stock. in a research report on Monday, July 12th. SVB Leerink reaffirmed an “outperform” rating on shares of Thermo Fisher Scientific in a research report on Monday. Finally, Benchmark assumed coverage on shares of Thermo Fisher Scientific in a research note on Friday, July 16th. They issued a “buy” rating and a $580.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $537.81.
Thermo Fisher Scientific Company 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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