E Fund Management Co. Ltd. Purchases 298 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

E Fund Management Co. Ltd. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,783 shares of the medical research company’s stock after purchasing an additional 298 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $2,645,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of TMO. Capital World Investors boosted its stake in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new position in Thermo Fisher Scientific during the first quarter worth $705,636,000. Veritas Asset Management LLP raised its holdings in 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 buying an additional 697,383 shares during the last quarter. Winslow Capital Management LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $333,786,000. Finally, Capital Research Global Investors raised its holdings in Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after buying an additional 517,137 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $610.26 on Wednesday. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88. The company has a 50-day simple moving average of $595.23 and a 200 day simple moving average of $580.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The company has a market capitalization of $232.95 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the business earned $5.15 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a dividend of $0.39 per share. 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 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on TMO. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Stifel Nicolaus increased their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Raymond James increased their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Barclays lowered their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $632.89.

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.