Perennial Investment Advisors LLC Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perennial Investment Advisors LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 717 shares of the medical research company’s stock after acquiring an additional 68 shares during the period. Perennial Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $397,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Signature Resources Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. True Wealth Design LLC lifted its holdings in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC increased its position in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Finally, LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific in the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.6 %

TMO stock opened at $610.26 on Wednesday. The firm’s 50-day moving average is $595.23 and its two-hundred day moving average is $580.77. 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 company has a market capitalization of $232.95 billion, a price-to-earnings ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. 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 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter last year, the business posted $5.15 earnings per share. The company’s quarterly revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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 issued 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 payout ratio is 10.01%.

Analyst Ratings Changes

Several research firms have issued reports on TMO. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Bank of America boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Robert W. Baird lifted 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. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $632.89.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on 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 transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was 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 of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value 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. Over the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. 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.