NorthCoast Asset Management LLC Purchases 17,681 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

NorthCoast Asset Management LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 235.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 25,184 shares of the medical research company’s stock after acquiring an additional 17,681 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $11,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meridian Management Co. boosted its position in shares of Thermo Fisher Scientific by 1.3% during the 1st quarter. Meridian Management Co. now owns 9,166 shares of the medical research company’s stock valued at $4,183,000 after acquiring an additional 121 shares during the last quarter. Factory Mutual Insurance Co. lifted its position in Thermo Fisher Scientific by 21.6% in the first quarter. Factory Mutual Insurance Co. now owns 187,814 shares of the medical research company’s stock worth $85,714,000 after buying an additional 33,314 shares during the last quarter. Gradient Investments LLC lifted its position in Thermo Fisher Scientific by 23.5% in the first quarter. Gradient Investments LLC now owns 15,078 shares of the medical research company’s stock worth $6,881,000 after buying an additional 2,868 shares during the last quarter. Segment Wealth Management LLC lifted its position in Thermo Fisher Scientific by 5.5% in the first quarter. Segment Wealth Management LLC now owns 4,285 shares of the medical research company’s stock worth $1,956,000 after buying an additional 223 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in Thermo Fisher Scientific by 1,291.8% in the first quarter. Quantbot Technologies LP now owns 14,391 shares of the medical research company’s stock worth $6,567,000 after buying an additional 13,357 shares during the last quarter. Hedge funds and other institutional investors own 85.90% of the company’s stock.

NYSE TMO traded up $10.89 during trading on Thursday, hitting $525.15. The company’s stock had a trading volume of 20,076 shares, compared to its average volume of 1,318,275. The company has a current ratio of 2.53, a quick ratio of 1.91 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $206.40 billion, a P/E ratio of 25.89, a PEG ratio of 1.22 and a beta of 0.76. The firm’s 50 day moving average is $483.14. Thermo Fisher Scientific Inc. has a fifty-two week low of $399.16 and a fifty-two week high of $532.57.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, April 29th. The medical research company reported $7.21 earnings per share for the quarter, topping the consensus estimate of $6.69 by $0.52. The business had revenue of $9.91 billion during the quarter, compared to the consensus estimate of $9.69 billion. Thermo Fisher Scientific had a return on equity of 28.95% and a net margin of 22.08%. The company’s quarterly revenue was up 59.0% on a year-over-year basis. During the same quarter last year, the company earned $2.94 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 22.01 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date is Tuesday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 5.32%.

In related news, EVP Michel Lagarde sold 34,168 shares of Thermo Fisher Scientific stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $472.60, for a total transaction of $16,147,796.80. Following the completion of the sale, the executive vice president now owns 52,629 shares of the company’s stock, valued at $24,872,465.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.44% of the company’s stock.

A number of analysts recently issued reports on TMO shares. Zacks Investment Research downgraded Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price target for the company. in a research report on Monday, July 12th. Evercore ISI increased their target price on Thermo Fisher Scientific from $525.00 to $540.00 and gave the stock an “outperform” rating in a research note on Friday, April 16th. SVB Leerink reiterated an “outperform” rating on shares of Thermo Fisher Scientific in a research note on Monday. The Goldman Sachs Group reduced their target price on Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating on the stock in a research note on Tuesday, June 15th. They noted that the move was a valuation call. Finally, Robert W. Baird increased their target price on Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the stock. Thermo Fisher Scientific has a consensus rating of “Buy” and an average price target of $537.81.

About Thermo Fisher Scientific

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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