Oak Grove Capital LLC Sells 256 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Oak Grove Capital LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,079 shares of the medical research company’s stock after selling 256 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.3% of Oak Grove Capital LLC’s holdings, making the stock its 18th largest holding. Oak Grove Capital LLC’s holdings in Thermo Fisher Scientific were worth $6,011,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $25,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $30,000. IMA Advisory Services Inc. bought a new stake in shares of Thermo Fisher Scientific during the first quarter worth $35,000. Navigoe LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in shares of Thermo Fisher Scientific during the first quarter valued at $37,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $485.62 on Friday. The stock has a market cap of $183.38 billion, a PE ratio of 28.09, a P/E/G ratio of 2.59 and a beta of 0.74. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The stock has a fifty day simple moving average of $433.08 and a 200-day simple moving average of $461.44.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping analysts’ consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion during the quarter, compared to analysts’ expectations of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the business posted $5.37 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.95%.

Analysts Set New Price Targets

Several brokerages have recently commented on TMO. Barclays raised their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an “equal weight” rating in a research note on Thursday, July 24th. UBS Group raised their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating on the stock in a research note on Thursday, July 24th. Wall Street Zen lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Finally, The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $593.00.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the transaction, the chief executive officer owned 115,174 shares of the company’s stock, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by corporate insiders.

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.