Geneva Capital Management LLC Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Geneva Capital Management LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.8% during the first quarter, Holdings Channel reports. The institutional investor owned 6,719 shares of the medical research company’s stock after selling 336 shares during the quarter. Geneva Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $2,909,524,000. International Assets Investment Management LLC raised its stake in shares of Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after purchasing an additional 1,008,045 shares during the period. Veritas Asset Management LLP raised its stake in shares of Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $333,786,000. Finally, Clearbridge Investments LLC raised its stake in shares of Thermo Fisher Scientific by 33.1% during the 4th quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock valued at $1,182,987,000 after purchasing an additional 553,695 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 1.1 %

Shares of NYSE:TMO traded up $5.67 during trading on Thursday, hitting $542.54. The stock had a trading volume of 1,402,436 shares, compared to its average volume of 1,541,105. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a market capitalization of $207.10 billion, a PE ratio of 34.44, a PEG ratio of 2.50 and a beta of 0.77. The firm’s fifty day moving average is $569.33 and its 200 day moving average is $563.82. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. Evercore ISI decreased 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. Deutsche Bank Aktiengesellschaft upped their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Barclays decreased 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 note on Friday, June 28th. HSBC upped their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $606.47.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock worth $12,532,780. Corporate insiders own 0.34% of the company’s stock.

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.