Cornerstone Investment Partners LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,100 shares of the medical research company’s stock after selling 900 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Thermo Fisher Scientific were worth $2,210,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Laurel Wealth Advisors LLC increased its position in shares of 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 purchasing an additional 48 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $28,000. Ballast Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $35,000. Investors Research Corp increased its position in shares of Thermo Fisher Scientific by 100.0% during the 2nd quarter. Investors Research Corp now owns 120 shares of the medical research company’s stock worth $39,000 after purchasing an additional 60 shares during the last quarter. Finally, Liberty One Investment Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $41,000. Hedge funds and other institutional investors own 87.51% of the company’s stock.
TMO traded up $3.39 during trading on Friday, hitting $413.95. The stock had a trading volume of 1,217,905 shares, compared to its average volume of 1,232,426. The company has a 50 day moving average price of $373.97 and a 200-day moving average price of $335.37. The firm has a market cap of $163.49 billion, a price-to-earnings ratio of 44.80, a P/E/G ratio of 1.85 and a beta of 1.04. Thermo Fisher Scientific Inc. has a one year low of $250.21 and a one year high of $420.99. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.62 and a quick ratio of 2.02.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. The ex-dividend date is Monday, September 14th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.21%. Thermo Fisher Scientific’s payout ratio is 7.13%.
In other news, CFO Stephen Williamson sold 19,800 shares of the company’s stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $410.83, for a total transaction of $8,134,434.00. Following the completion of the sale, the chief financial officer now directly owns 57,789 shares in the company, valued at approximately $23,741,454.87. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Mark Stevenson sold 25,000 shares of the company’s stock in a transaction on Friday, July 24th. The shares were sold at an average price of $404.58, for a total value of $10,114,500.00. Following the sale, the chief operating officer now owns 73,621 shares of the company’s stock, valued at $29,785,584.18. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 171,031 shares of company stock valued at $67,284,857. Corporate insiders own 0.44% of the company’s stock.
A number of research analysts recently weighed in on TMO shares. Needham & Company LLC boosted their target price on Thermo Fisher Scientific from $415.00 to $468.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. UBS Group boosted their target price on Thermo Fisher Scientific from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. Citigroup boosted 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. 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. Finally, SVB Leerink boosted their target price on Thermo Fisher Scientific from $365.00 to $455.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $420.50.
Thermo Fisher Scientific Company Profile
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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