Montag & Caldwell LLC Has $9.27 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Montag & Caldwell LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 22.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,756 shares of the medical research company’s stock after selling 4,737 shares during the period. Thermo Fisher Scientific comprises about 1.9% of Montag & Caldwell LLC’s portfolio, making the stock its 23rd largest holding. Montag & Caldwell LLC’s holdings in Thermo Fisher Scientific were worth $9,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC raised its position in Thermo Fisher Scientific by 318.2% during the second 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. bought a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $31,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC raised its stake in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, True Wealth Design LLC increased its holdings in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on TMO shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Raymond James boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $630.41.

Thermo Fisher Scientific Price Performance

TMO stock opened at $611.17 on Monday. The company has a market capitalization of $233.29 billion, a P/E ratio of 39.20, a PEG ratio of 2.86 and a beta of 0.78. The company has a fifty day moving average price of $592.10 and a 200-day moving average price of $580.22. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its 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. The firm had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the business earned $5.15 EPS. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other 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 of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the 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 disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last three months. 0.34% of the stock is owned by company insiders.

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.