Seven Eight Capital LP Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Seven Eight Capital LP raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,586 shares of the medical research company’s stock after purchasing an additional 588 shares during the quarter. Seven Eight Capital LP’s holdings in Thermo Fisher Scientific were worth $1,430,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Brookstone Capital Management grew its position in Thermo Fisher Scientific by 252.4% in the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after purchasing an additional 3,142 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $40,335,000. Leo Wealth LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at $1,117,000. Rhenman & Partners Asset Management AB boosted its position in Thermo Fisher Scientific by 6,600.0% in the fourth quarter. Rhenman & Partners Asset Management AB now owns 33,500 shares of the medical research company’s stock worth $17,781,000 after purchasing an additional 33,000 shares during the last quarter. Finally, BDF Gestion bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $6,368,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TMO shares. Raymond James boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Barclays lowered their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, TD Cowen boosted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $632.89.

Thermo Fisher Scientific Stock Performance

TMO opened at $620.26 on Friday. The stock has a market capitalization of $236.94 billion, a price-to-earnings ratio of 39.79, a PEG ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. 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 company has a fifty day moving average of $598.25 and a 200 day moving average of $581.25.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping 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 return on equity of 18.22% and a net margin of 14.69%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.15 earnings per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares in the company, valued at approximately $7,860,920.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 over the last 90 days. 0.34% of the stock is owned by corporate insiders.

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.