EFG Asset Management Americas Corp. Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

EFG Asset Management Americas Corp. boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 42.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 10,974 shares of the medical research company’s stock after acquiring an additional 3,258 shares during the quarter. Thermo Fisher Scientific comprises 1.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 27th biggest position. EFG Asset Management Americas Corp.’s holdings in Thermo Fisher Scientific were worth $6,069,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TMO. Private Wealth Management Group LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $110,000. Brookstone Capital Management boosted its stake in shares of Thermo Fisher Scientific by 252.4% in the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after buying an additional 3,142 shares in the last quarter. Artisan Partners Limited Partnership acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $40,335,000. Leo Wealth LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $1,117,000. Finally, Jump Financial LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $1,399,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 0.7 %

TMO traded up $4.45 during midday trading on Friday, hitting $611.33. The company’s stock had a trading volume of 1,868,789 shares, compared to its average volume of 938,285. The firm has a market cap of $233.35 billion, a P/E ratio of 39.21, a PEG ratio of 2.85 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $622.30. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $584.07 and a two-hundred day moving average price of $577.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $5.15 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TMO shares. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird boosted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus raised their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price on the stock. Finally, Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $630.41.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last ninety days. Corporate insiders own 0.34% 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.