Harfst & Associates Inc. Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Harfst & Associates Inc. acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,209 shares of the medical research company’s stock, valued at approximately $602,000.

Several other large investors also recently modified their holdings of the stock. Sit Investment Associates Inc. grew its stake in shares of Thermo Fisher Scientific by 1.1% in the 1st quarter. Sit Investment Associates Inc. now owns 24,823 shares of the medical research company’s stock valued at $12,352,000 after purchasing an additional 276 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $149,000. E Fund Management Co. Ltd. grew its stake in shares of Thermo Fisher Scientific by 13.8% in the 1st quarter. E Fund Management Co. Ltd. now owns 5,590 shares of the medical research company’s stock valued at $2,782,000 after purchasing an additional 680 shares during the period. Financial Network Wealth Advisors LLC grew its position in Thermo Fisher Scientific by 18.8% during the 1st quarter. Financial Network Wealth Advisors LLC now owns 373 shares of the medical research company’s stock worth $186,000 after acquiring an additional 59 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its position in Thermo Fisher Scientific by 7.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,464 shares of the medical research company’s stock worth $5,704,000 after acquiring an additional 748 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

TMO opened at $485.72 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. The business’s 50-day moving average price is $431.32 and its two-hundred day moving average price is $462.11. The company has a market capitalization of $183.41 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 2.55 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. Thermo Fisher Scientific’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.37 earnings per share. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is currently 9.95%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TMO shares. HSBC restated a “hold” rating and set a $510.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Barclays increased their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 24th. Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating on the stock in a research report on Thursday, July 24th. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, Argus decreased their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $593.00.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares of the company’s stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares in the company, valued at $52,037,916.68. The trade was a 7.99% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,400 shares of company stock worth $8,345,792. Corporate insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.