Parsons Capital Management Inc. RI Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parsons Capital Management Inc. RI raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,416 shares of the medical research company’s stock after buying an additional 689 shares during the period. Thermo Fisher Scientific comprises about 1.1% of Parsons Capital Management Inc. RI’s investment portfolio, making the stock its 15th biggest holding. Parsons Capital Management Inc. RI’s holdings in Thermo Fisher Scientific were worth $10,401,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cullen Frost Bankers Inc. raised its holdings in Thermo Fisher Scientific by 64.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 385 shares of the medical research company’s stock worth $113,000 after purchasing an additional 151 shares in the last quarter. FinTrust Capital Advisors LLC raised its holdings in Thermo Fisher Scientific by 127.3% in the 2nd quarter. FinTrust Capital Advisors LLC now owns 416 shares of the medical research company’s stock worth $122,000 after purchasing an additional 233 shares in the last quarter. Eagle Ridge Investment Management bought a new position in Thermo Fisher Scientific in the 2nd quarter worth $212,000. Watch Point Trust Co raised its holdings in Thermo Fisher Scientific by 34.9% in the 2nd quarter. Watch Point Trust Co now owns 9,784 shares of the medical research company’s stock worth $2,873,000 after purchasing an additional 2,531 shares in the last quarter. Finally, TRUE Private Wealth Advisors bought a new position in Thermo Fisher Scientific in the 2nd quarter worth $119,000. 88.21% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on the stock. Credit Suisse Group restated a “buy” rating and issued a $310.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, July 31st. UBS Group increased their price target on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. BTIG Research increased their price target on shares of Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Argus increased their price target on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC increased their price objective on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $303.17.

In other news, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the completion of the sale, the chief financial officer now directly owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the sale, the chief executive officer now directly owns 342,193 shares of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders have sold 52,775 shares of company stock valued at $14,986,676 over the last three months. Insiders own 0.45% of the company’s stock.

NYSE TMO traded up $3.86 on Thursday, hitting $273.34. 51,785 shares of the stock were exchanged, compared to its average volume of 1,592,969. The stock has a market capitalization of $108.93 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 1.78 and a beta of 1.11. Thermo Fisher Scientific Inc. has a 52-week low of $208.34 and a 52-week high of $305.45. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $287.70.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.01 by $0.03. The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $6.31 billion. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.75 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 12.24 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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

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