Mitchell Sinkler & Starr PA Sells 26 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Mitchell Sinkler & Starr PA lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% in the second quarter, Holdings Channel reports. The institutional investor owned 537 shares of the medical research company’s stock after selling 26 shares during the period. Mitchell Sinkler & Starr PA’s holdings in Thermo Fisher Scientific were worth $290,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $2,909,524,000. Capital World Investors boosted its holdings in Thermo Fisher Scientific by 10.0% in the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB acquired a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $705,636,000. Veritas Asset Management LLP boosted its holdings in shares of Thermo Fisher Scientific by 70.1% in 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 acquiring an additional 697,383 shares during the last quarter. Finally, Winslow Capital Management LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth about $333,786,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 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 approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders 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 insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $624.21 on Wednesday. The firm has a 50-day simple moving average of $587.45 and a 200-day simple moving average of $579.22. 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 market capitalization of $238.45 billion, a price-to-earnings ratio of 40.04, a price-to-earnings-growth ratio of 2.84 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.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 net margin of 14.69% and a return on equity of 18.22%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the business posted $5.15 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced 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 payout ratio is 10.01%.

Wall Street Analyst Weigh In

Several research firms have commented on TMO. Raymond James upped their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Barclays cut their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Finally, Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Thermo Fisher Scientific Company 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.