Principal Financial Group Inc. Has $342.94 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Principal Financial Group Inc. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 679,808 shares of the medical research company’s stock after acquiring an additional 6,576 shares during the period. Principal Financial Group Inc. owned approximately 0.17% of Thermo Fisher Scientific worth $342,943,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Alliance Advisory Group LLC boosted its position in shares of Thermo Fisher Scientific by 1.3% during the second quarter. Wealth Alliance Advisory Group LLC now owns 1,536 shares of the medical research company’s stock worth $775,000 after buying an additional 20 shares during the period. McLean Asset Management Corp raised its holdings in shares of Thermo Fisher Scientific by 2.2% in the second quarter. McLean Asset Management Corp now owns 928 shares of the medical research company’s stock valued at $483,000 after purchasing an additional 20 shares during the last quarter. Avestar Capital LLC boosted its holdings in Thermo Fisher Scientific by 2.9% during the second quarter. Avestar Capital LLC now owns 700 shares of the medical research company’s stock worth $353,000 after purchasing an additional 20 shares during the last quarter. Dumont & Blake Investment Advisors LLC increased its stake in Thermo Fisher Scientific by 0.8% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 2,649 shares of the medical research company’s stock valued at $1,336,000 after buying an additional 21 shares during the last quarter. Finally, EPG Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 2.9% during the 2nd quarter. EPG Wealth Management LLC now owns 746 shares of the medical research company’s stock worth $376,000 after buying an additional 21 shares during the last quarter. Hedge funds and other institutional investors own 85.50% of the company’s stock.

Several research firms have weighed in on TMO. The Goldman Sachs Group lowered their price target on Thermo Fisher Scientific from $590.00 to $530.00 and set a “buy” rating on the stock in a research report on Tuesday, June 15th. They noted that the move was a valuation call. Cowen increased their price target on shares of Thermo Fisher Scientific from $525.00 to $560.00 and gave the company an “outperform” rating in a research note on Thursday, July 29th. BTIG Research upped their target price on shares of Thermo Fisher Scientific from $590.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, July 29th. Argus lifted their price target on Thermo Fisher Scientific from $530.00 to $600.00 and gave the stock a “buy” rating in a report on Wednesday, August 4th. Finally, KeyCorp lifted their target price on Thermo Fisher Scientific from $520.00 to $555.00 and gave the stock an “overweight” rating in a research note on Monday, July 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $547.95.

TMO stock opened at $562.40 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $412.80 and a 52 week high of $575.63. The business has a 50-day simple moving average of $542.01 and a 200 day simple moving average of $494.08. The company has a quick ratio of 2.11, a current ratio of 2.78 and a debt-to-equity ratio of 0.51. The company has a market cap of $221.26 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.33 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 28th. The medical research company reported $5.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.51 by $0.09. Thermo Fisher Scientific had a net margin of 22.47% and a return on equity of 29.43%. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 22.07 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.04 annualized dividend and a dividend yield of 0.18%. Thermo Fisher Scientific’s dividend payout ratio is currently 5.32%.

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, August 4th. The stock was sold at an average price of $539.05, for a total value of $5,390,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jim P. Manzi sold 572 shares of the stock in a transaction dated Friday, July 30th. The shares were sold at an average price of $536.54, for a total value of $306,900.88. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

Read More: Trade Deficit

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.