Connors Investor Services Inc. Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Connors Investor Services Inc. raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 50.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,691 shares of the medical research company’s stock after purchasing an additional 5,936 shares during the quarter. Connors Investor Services Inc.’s holdings in Thermo Fisher Scientific were worth $9,783,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of TMO. Perennial Investment Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 10.5% during the 2nd quarter. Perennial Investment Advisors LLC now owns 717 shares of the medical research company’s stock valued at $397,000 after buying an additional 68 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Thermo Fisher Scientific by 128.7% in the second quarter. Edgestream Partners L.P. now owns 6,536 shares of the medical research company’s stock valued at $3,614,000 after purchasing an additional 3,678 shares during the period. Moors & Cabot Inc. grew its holdings in Thermo Fisher Scientific by 1.7% during the 2nd quarter. Moors & Cabot Inc. now owns 3,927 shares of the medical research company’s stock valued at $2,172,000 after purchasing an additional 67 shares in the last quarter. Lmcg Investments LLC lifted its holdings in Thermo Fisher Scientific by 2.9% in the 2nd quarter. Lmcg Investments LLC now owns 14,382 shares of the medical research company’s stock worth $7,953,000 after buying an additional 400 shares in the last quarter. Finally, WealthPLAN Partners LLC boosted its position in Thermo Fisher Scientific by 6.5% in the 2nd quarter. WealthPLAN Partners LLC now owns 4,120 shares of the medical research company’s stock valued at $2,279,000 after buying an additional 253 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In related news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on TMO. Wells Fargo & Company started coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Bank of America raised their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday. Robert W. Baird raised their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Finally, Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $632.89.

Thermo Fisher Scientific Trading Up 0.5 %

NYSE:TMO opened at $614.01 on Tuesday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The business has a fifty day moving average of $593.66 and a 200-day moving average of $580.53. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a market cap of $234.38 billion, a price-to-earnings ratio of 39.38, a PEG ratio of 2.86 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the company earned $5.15 EPS. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

About Thermo Fisher Scientific

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.