Thermo Fisher Scientific Inc (TMO) Shares Bought by SeaBridge Investment Advisors LLC
SeaBridge Investment Advisors LLC increased its position in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 1.7% during the second quarter, Holdings Channel reports. The institutional investor owned 19,304 shares of the medical research company’s stock after buying an additional 326 shares during the period. SeaBridge Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,368,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Thermo Fisher Scientific by 2.7% in the first quarter. Vanguard Group Inc. now owns 25,971,301 shares of the medical research company’s stock worth $3,989,193,000 after buying an additional 695,079 shares in the last quarter. BlackRock Inc. boosted its stake in Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after buying an additional 22,165,530 shares in the last quarter. State Street Corp boosted its stake in Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock worth $2,470,802,000 after buying an additional 164,367 shares in the last quarter. Wellington Management Group LLP boosted its stake in Thermo Fisher Scientific by 5.6% in the first quarter. Wellington Management Group LLP now owns 7,512,152 shares of the medical research company’s stock worth $1,153,867,000 after buying an additional 398,622 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Thermo Fisher Scientific by 7.6% in the first quarter. Morgan Stanley now owns 4,664,882 shares of the medical research company’s stock worth $716,526,000 after buying an additional 327,826 shares in the last quarter. 87.60% of the stock is currently owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Inc (NYSE:TMO) traded up 1.24% on Wednesday, hitting $175.71. The stock had a trading volume of 608,930 shares. The stock has a market cap of $68.55 billion, a price-to-earnings ratio of 30.61 and a beta of 1.06. The stock’s 50 day moving average is $176.78 and its 200 day moving average is $166.23. Thermo Fisher Scientific Inc has a one year low of $139.07 and a one year high of $182.87.
Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same period in the prior year, the business posted $2.03 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be given a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.
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TMO has been the topic of a number of research analyst reports. Bank of America Corporation reissued a “buy” rating and issued a $210.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday, July 21st. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Barclays PLC set a $175.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price target on the stock. Finally, Cowen and Company reissued an “outperform” rating and issued a $185.00 price target (up previously from $175.00) on shares of Thermo Fisher Scientific in a research note on Saturday, April 29th. One investment analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Thermo Fisher Scientific presently has an average rating of “Buy” and an average price target of $188.56.
In related news, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the transaction, the chief executive officer now directly owns 269,279 shares in the company, valued at $46,528,718.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $176.26, for a total value of $440,650.00. Following the transaction, the chief financial officer now owns 37,790 shares in the company, valued at $6,660,865.40. The disclosure for this sale can be found here. Insiders have sold 27,188 shares of company stock worth $4,702,223 over the last quarter. 0.49% of the stock is currently owned by company insiders.
Thermo Fisher Scientific Company Profile
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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