Thermo Fisher Scientific Inc. (NYSE:TMO) is Reliant Investment Management LLC’s 8th Largest Position

Reliant Investment Management LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the third quarter, HoldingsChannel reports. The fund owned 12,046 shares of the medical research company’s stock after selling 117 shares during the period. Thermo Fisher Scientific comprises 3.5% of Reliant Investment Management LLC’s holdings, making the stock its 8th biggest position. Reliant Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $7,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the period. True Wealth Design LLC boosted its holdings in Thermo Fisher Scientific by 1,275.0% during the 4th 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 during the period. Finally, Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at about $32,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the transaction, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Raymond James lifted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird boosted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $595.14 on Wednesday. The company has a fifty day moving average of $609.35 and a two-hundred day moving average of $582.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The company has a market capitalization of $227.34 billion, a PE ratio of 38.17, a P/E/G ratio of 3.83 and a beta of 0.77.

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

Thermo Fisher Scientific Dividend Announcement

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 paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

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.