Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,789 shares of the medical research company’s stock after selling 21 shares during the period. Covenant Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $1,455,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. BlackRock Inc. grew its holdings in Thermo Fisher Scientific by 2.1% in the first quarter. BlackRock Inc. now owns 31,423,285 shares of the medical research company’s stock valued at $18,111,439,000 after purchasing an additional 633,163 shares during the period. Morgan Stanley grew its holdings in Thermo Fisher Scientific by 17.7% in the fourth quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock valued at $6,459,629,000 after purchasing an additional 1,764,312 shares during the period. FMR LLC grew its holdings in Thermo Fisher Scientific by 1.7% in the first quarter. FMR LLC now owns 11,354,044 shares of the medical research company’s stock valued at $6,544,130,000 after purchasing an additional 194,602 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Thermo Fisher Scientific by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,123,657 shares of the medical research company’s stock valued at $5,024,306,000 after purchasing an additional 161,344 shares during the period. Finally, Moneta Group Investment Advisors LLC grew its holdings in Thermo Fisher Scientific by 104,536.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after purchasing an additional 8,347,260 shares during the period. 87.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total value of $1,673,310.00. Following the sale, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Marc N. Casper sold 1,600 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $550.60, for a total value of $880,960.00. Following the sale, the chief executive officer now owns 135,330 shares in the company, valued at approximately $74,512,698. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the sale, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. Insiders have sold 28,700 shares of company stock worth $15,799,270 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Credit Suisse Group raised Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target on the stock in a research note on Thursday, July 13th. Citigroup began coverage on Thermo Fisher Scientific in a research note on Wednesday, September 6th. They issued a “buy” rating and a $625.00 price target on the stock. KeyCorp lowered their price target on Thermo Fisher Scientific from $710.00 to $640.00 in a research note on Thursday, May 25th. Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. Finally, StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $631.71.

Thermo Fisher Scientific Trading Down 0.4 %

Thermo Fisher Scientific stock traded down $1.83 during trading on Tuesday, reaching $505.90. 238,491 shares of the company were exchanged, compared to its average volume of 1,492,964. Thermo Fisher Scientific Inc. has a 52-week low of $475.77 and a 52-week high of $609.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02. The company has a market capitalization of $195.25 billion, a P/E ratio of 34.72, a PEG ratio of 2.43 and a beta of 0.77. The stock’s 50 day simple moving average is $540.37 and its two-hundred day simple moving average is $541.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 26th. The medical research company reported $5.15 EPS for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business had revenue of $10.69 billion during the quarter, compared to analysts’ expectations of $10.99 billion. During the same quarter in the prior year, the firm earned $5.51 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 22.37 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.57%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.