Joseph R. Holmes Sells 860 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $3.02 during trading on Monday, hitting $604.12. The stock had a trading volume of 1,228,281 shares, compared to its average volume of 1,564,947. 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 $230.60 billion, a P/E ratio of 38.75, a PEG ratio of 2.83 and a beta of 0.77. The business has a fifty day moving average of $563.01 and a two-hundred day moving average of $565.97. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $614.65.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Institutional Investors Weigh In On Thermo Fisher Scientific

Hedge funds have recently modified their holdings of the stock. Signature Resources Capital Management LLC lifted its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $31,000. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $29,000. Northwest Financial Advisors purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $29,000. Finally, True Wealth Design LLC raised its stake in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the topic of several recent research reports. Evercore ISI reduced their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Raymond James boosted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday. Jefferies Financial Group restated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Royal Bank of Canada lifted their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $618.94.

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.