Westwood Management Corp IL trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 203,760 shares of the medical research company’s stock after selling 3,701 shares during the quarter. Thermo Fisher Scientific makes up approximately 7.7% of Westwood Management Corp IL’s investment portfolio, making the stock its 5th largest position. Westwood Management Corp IL owned approximately 0.05% of Thermo Fisher Scientific worth $59,840,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in TMO. Truvestments Capital LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at $29,000. Focused Wealth Management Inc acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth $44,000. Somerset Trust Co increased its stake in shares of Thermo Fisher Scientific by 162.7% in the 1st quarter. Somerset Trust Co now owns 197 shares of the medical research company’s stock worth $54,000 after acquiring an additional 122 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Thermo Fisher Scientific by 168.0% in the 1st quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 201 shares of the medical research company’s stock worth $55,000 after acquiring an additional 126 shares during the last quarter. Finally, Bay Harbor Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 183.8% in the 2nd quarter. Bay Harbor Wealth Management LLC now owns 227 shares of the medical research company’s stock worth $67,000 after acquiring an additional 147 shares during the last quarter. 88.02% of the stock is owned by institutional investors and hedge funds.
A number of analysts have issued reports on TMO shares. Bank of America reaffirmed a “buy” rating and issued a $300.00 target price (up from $285.00) on shares of Thermo Fisher Scientific in a research note on Tuesday, April 16th. Needham & Company LLC raised their target price on Thermo Fisher Scientific from $315.00 to $321.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Barclays set a $330.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. UBS Group raised their target price on Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, BTIG Research raised their target price on Thermo Fisher Scientific to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $303.17.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.03. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The company’s revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.75 EPS. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 12.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
In other news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the completion of the transaction, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $268.29, for a total value of $670,725.00. Following the transaction, the chief financial officer now owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,775 shares of company stock valued at $14,986,676. Company insiders own 0.45% of the company’s stock.
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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