Roosevelt Investment Group LLC Sells 9,409 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Roosevelt Investment Group LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 23.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,998 shares of the medical research company’s stock after selling 9,409 shares during the quarter. Roosevelt Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $15,133,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Viking Global Investors LP raised its stake in shares of Thermo Fisher Scientific by 1,007.6% during the 1st quarter. Viking Global Investors LP now owns 861,887 shares of the medical research company’s stock valued at $393,348,000 after purchasing an additional 784,070 shares during the period. Morgan Stanley raised its stake in shares of Thermo Fisher Scientific by 7.3% during the 1st quarter. Morgan Stanley now owns 8,293,242 shares of the medical research company’s stock valued at $3,784,871,000 after purchasing an additional 566,814 shares during the period. Flossbach Von Storch AG raised its stake in shares of Thermo Fisher Scientific by 130.6% during the 2nd quarter. Flossbach Von Storch AG now owns 796,673 shares of the medical research company’s stock valued at $401,898,000 after purchasing an additional 451,134 shares during the period. AMF Pensionsforsakring AB purchased a new position in Thermo Fisher Scientific during the second quarter worth about $166,477,000. Finally, Alecta Pensionsforsakring Omsesidigt grew its position in Thermo Fisher Scientific by 31.0% during the second quarter. Alecta Pensionsforsakring Omsesidigt now owns 1,373,000 shares of the medical research company’s stock worth $692,637,000 after buying an additional 325,000 shares in the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total value of $5,390,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jim P. Manzi sold 572 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $536.54, for a total value of $306,900.88. The disclosure for this sale can be found here. 0.44% of the stock is owned by company insiders.

Several research firms recently commented on TMO. KeyCorp boosted their target price on Thermo Fisher Scientific from $555.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday. Jefferies Financial Group initiated coverage on Thermo Fisher Scientific in a research report on Monday. They set a “hold” rating and a $540.00 price target for the company. Cowen upped their price target on Thermo Fisher Scientific from $525.00 to $560.00 and gave the company an “outperform” rating in a research report on Thursday, July 29th. SVB Leerink upped their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company an “outperform” rating in a research report on Monday. Finally, The Goldman Sachs Group lowered their price target on Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating for the company in a research report on Tuesday, June 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Buy” and a consensus target price of $580.43.

TMO stock traded up $4.21 on Tuesday, reaching $594.41. 10,394 shares of the company traded hands, compared to its average volume of 1,609,678. The firm has a fifty day simple moving average of $546.75 and a 200-day simple moving average of $497.57. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.78 and a quick ratio of 2.11. Thermo Fisher Scientific Inc. has a one year low of $412.80 and a one year high of $609.30. The company has a market cap of $233.85 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 28th. The medical research company reported $5.60 EPS for the quarter, beating the consensus estimate of $5.51 by $0.09. Thermo Fisher Scientific had a return on equity of 29.43% and a net margin of 22.47%. The business had revenue of $9.27 billion for the quarter, compared to the consensus estimate of $8.75 billion. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Wednesday, September 15th will be issued a dividend of $0.26 per share. The ex-dividend date is Tuesday, September 14th. This represents a $1.04 dividend on an annualized basis and a yield of 0.17%. Thermo Fisher Scientific’s dividend payout ratio is presently 5.32%.

Thermo Fisher Scientific Company Profile

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.

Further Reading: Forex

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

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