Thermo Fisher Scientific Inc. (NYSE:TMO) is Ascension Asset Management LLC’s 10th Largest Position

Ascension Asset Management LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,159 shares of the medical research company’s stock after selling 290 shares during the period. Thermo Fisher Scientific comprises about 2.0% of Ascension Asset Management LLC’s investment portfolio, making the stock its 10th biggest position. Ascension Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $3,959,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Beaumont Financial Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after buying an additional 17 shares during the period. Cedar Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 14.5% in the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares in the last quarter. Lafayette Investments Inc. boosted its stake in shares of Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its holdings in Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the period. Finally, Drive Wealth Management LLC boosted its position in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on TMO shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America increased their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Barclays reduced their price target 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. Finally, Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Four investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $650.41.

Thermo Fisher Scientific Stock Performance

TMO opened at $614.42 on Friday. The firm has a 50 day moving average of $606.08 and a two-hundred day moving average of $581.96. The firm has a market capitalization of $234.71 billion, a PE ratio of 39.41, a P/E/G ratio of 3.88 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88.

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

Thermo Fisher Scientific Dividend Announcement

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

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was 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 $76,420,473.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Profile

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.