Quest Investment Management LLC Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Quest Investment Management LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.9% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,151 shares of the medical research company’s stock after selling 271 shares during the period. Quest Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the period. True Wealth Design LLC boosted its holdings in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC lifted its position in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new stake in Thermo Fisher Scientific in the 1st quarter valued at approximately $31,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the subject of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price target on shares of Thermo Fisher Scientific in a report on Friday. Robert W. Baird upped their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target for the company. Finally, Morgan Stanley raised their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $647.78.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction 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 approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 over the last ninety days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $613.69 on Friday. The firm has a market capitalization of $234.26 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a 50 day moving average price of $599.56 and a 200 day moving average price of $581.45. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year 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.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $5.15 earnings per share. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS 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 dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 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.