Avestar Capital LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Avestar Capital LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 720 shares of the medical research company’s stock after selling 46 shares during the period. Avestar Capital LLC’s holdings in Thermo Fisher Scientific were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Laurel Wealth Advisors LLC grew its holdings in Thermo Fisher Scientific by 104.3% during the 1st quarter. Laurel Wealth Advisors LLC now owns 94 shares of the medical research company’s stock worth $27,000 after acquiring an additional 48 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at $28,000. Ballast Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the first quarter valued at $35,000. Investors Research Corp grew its stake in shares of Thermo Fisher Scientific by 100.0% in the second quarter. Investors Research Corp now owns 120 shares of the medical research company’s stock valued at $39,000 after buying an additional 60 shares in the last quarter. Finally, Liberty One Investment Management LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at $41,000. 87.51% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TMO stock opened at $413.95 on Friday. The business’s 50 day simple moving average is $373.97 and its 200 day simple moving average is $335.37. Thermo Fisher Scientific Inc. has a one year low of $250.21 and a one year high of $420.99. The stock has a market capitalization of $163.49 billion, a PE ratio of 44.80, a PEG ratio of 1.83 and a beta of 1.04. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.62 and a quick ratio of 2.02.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $1.22. The firm had revenue of $6.92 billion for the quarter, compared to analysts’ expectations of $6.91 billion. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. During the same period in the prior year, the business earned $3.04 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 14.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Monday, September 14th. Thermo Fisher Scientific’s payout ratio is 7.13%.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $411.05, for a total transaction of $8,221,000.00. Following the transaction, the chief executive officer now directly owns 260,446 shares in the company, valued at approximately $107,056,328.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Syed A. Jafry sold 20,513 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $414.94, for a total value of $8,511,664.22. Following the transaction, the vice president now owns 26,657 shares in the company, valued at $11,061,055.58. The disclosure for this sale can be found here. Insiders have sold a total of 171,031 shares of company stock worth $67,284,857 over the last 90 days. Company insiders own 0.44% of the company’s stock.

TMO has been the subject of several analyst reports. Argus raised their target price on shares of Thermo Fisher Scientific from $370.00 to $450.00 in a research note on Monday, July 27th. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $352.00 to $436.00 in a report on Thursday, July 23rd. Citigroup lifted their target price on Thermo Fisher Scientific from $390.00 to $471.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Stifel Nicolaus lifted their target price on Thermo Fisher Scientific from $370.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Finally, Cowen reissued a “buy” rating and set a $380.00 target price on shares of Thermo Fisher Scientific in a report on Monday, July 6th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $420.50.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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