New South Capital Management Inc. Sells 530 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

New South Capital Management Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 158,596 shares of the medical research company’s stock after selling 530 shares during the quarter. Thermo Fisher Scientific makes up about 3.9% of New South Capital Management Inc.’s holdings, making the stock its 6th biggest position. New South Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $87,704,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 17.0% in the fourth quarter. International Assets Investment Management LLC now owns 1,902 shares of the medical research company’s stock valued at $1,010,000 after buying an additional 276 shares during the last quarter. Accretive Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 8.1% in the 4th quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after acquiring an additional 48 shares during the last quarter. Aveo Capital Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 9.7% during the fourth quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after purchasing an additional 72 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of Thermo Fisher Scientific by 8.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock valued at $794,000 after purchasing an additional 116 shares during the period. Finally, Principal Securities Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $1,931,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $611.33 on Friday. 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’s fifty day moving average price is $584.07 and its 200 day moving average price is $578.20. The company has a market capitalization of $233.35 billion, a price-to-earnings ratio of 39.21, a price-to-earnings-growth ratio of 2.85 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping the consensus estimate 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 business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the previous year, the firm posted $5.15 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Analyst Ratings Changes

A number of research firms have recently commented on TMO. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Stifel Nicolaus increased their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen lifted their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Barclays cut their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $630.41.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

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.