Rock Creek Group LP increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.4% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 855 shares of the medical research company’s stock after acquiring an additional 101 shares during the quarter. Rock Creek Group LP’s holdings in Thermo Fisher Scientific were worth $431,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. bought a new position in Thermo Fisher Scientific in the first quarter worth approximately $26,000. Cullen Frost Bankers Inc. grew its position in Thermo Fisher Scientific by 2.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 9,352 shares of the medical research company’s stock valued at $4,268,000 after purchasing an additional 255 shares during the period. Unigestion Holding SA raised its holdings in Thermo Fisher Scientific by 46.1% during the first quarter. Unigestion Holding SA now owns 3,161 shares of the medical research company’s stock worth $1,443,000 after buying an additional 997 shares during the last quarter. Avidian Wealth Solutions LLC lifted its stake in shares of Thermo Fisher Scientific by 5.8% in the first quarter. Avidian Wealth Solutions LLC now owns 1,891 shares of the medical research company’s stock valued at $863,000 after buying an additional 103 shares in the last quarter. Finally, Donaldson Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 3.5% during the first quarter. Donaldson Capital Management LLC now owns 1,478 shares of the medical research company’s stock worth $674,000 after acquiring an additional 50 shares in the last quarter. 85.50% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total transaction of $5,390,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jim P. Manzi sold 572 shares of the business’s stock in a transaction that occurred on Friday, July 30th. The stock was sold at an average price of $536.54, for a total transaction of $306,900.88. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.
Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $5.51 by $0.09. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 22.07 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 annualized dividend and a yield of 0.18%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.
TMO has been the subject of several analyst reports. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. SVB Leerink reaffirmed an “outperform” rating on shares of Thermo Fisher Scientific in a report on Monday, July 19th. BTIG Research raised their price target on shares of Thermo Fisher Scientific from $590.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, July 29th. The Goldman Sachs Group reduced their price objective on shares of Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Cowen boosted their target price on Thermo Fisher Scientific from $525.00 to $560.00 and gave the stock an “outperform” rating in a research note on Thursday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average price target of $547.95.
About Thermo Fisher Scientific
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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