Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Hemenway Trust Co LLC

Hemenway Trust Co LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,758 shares of the medical research company’s stock after selling 214 shares during the period. Hemenway Trust Co LLC’s holdings in Thermo Fisher Scientific were worth $3,184,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $2,909,524,000. Capital World Investors grew its holdings in shares of Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Swedbank AB purchased a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $705,636,000. Veritas Asset Management LLP increased its position in shares of Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares during the period. Finally, Winslow Capital Management LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at $333,786,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.0 %

NYSE:TMO traded up $5.92 during trading hours on Friday, reaching $612.80. The company’s stock had a trading volume of 128,928 shares, compared to its average volume of 1,495,300. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $622.30. The business’s 50-day moving average is $582.90 and its 200-day moving average is $577.55. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company has a market cap of $234.09 billion, a price-to-earnings ratio of 38.93, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period last year, the business posted $5.15 EPS. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current 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 paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other Thermo Fisher Scientific news, 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 completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on TMO. Raymond James raised their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company 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 research report on Tuesday, July 2nd. TD Cowen boosted their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $630.41.

Thermo Fisher Scientific Profile

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.