Sandy Cove Advisors LLC Sells 27 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Posted by Defense World Staff on Sep 9th, 2023

Sandy Cove Advisors LLC lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 6.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 366 shares of the medical research company’s stock after selling 27 shares during the period. Sandy Cove Advisors LLC’s holdings in Thermo Fisher Scientific were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in TMO. Bornite Capital Management LP increased its position in Thermo Fisher Scientific by 50.0% during the 1st quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock worth $17,719,000 after buying an additional 10,000 shares during the period. Fairfield Bush & CO. grew its holdings in shares of Thermo Fisher Scientific by 1.2% during the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock worth $1,729,000 after purchasing an additional 36 shares in the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Thermo Fisher Scientific by 563.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock worth $11,721,000 after purchasing an additional 16,853 shares in the last quarter. Covestor Ltd grew its holdings in shares of Thermo Fisher Scientific by 60.5% during the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock worth $190,000 after purchasing an additional 121 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of Thermo Fisher Scientific by 3.6% during the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock worth $395,000 after purchasing an additional 23 shares in the last quarter. Institutional investors own 87.06% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 14,100 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total value of $7,755,000.00. Following the transaction, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Stephen Williamson sold 14,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the transaction, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at $15,066,150. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total value of $5,490,000.00. Following the transaction, the chief executive officer now directly owns 141,330 shares in the company, valued at $77,590,170. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,700 shares of company stock valued at $15,799,270. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TMO. KeyCorp reduced their target price on Thermo Fisher Scientific from $710.00 to $640.00 in a report on Thursday, May 25th. StockNews.com lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, September 2nd. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating on the stock in a research note on Thursday, July 27th. Raymond James raised their price objective on Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $631.71.

Read Our Latest Stock Analysis on TMO

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $518.48 on Friday. The business’s 50-day moving average price is $540.81 and its 200-day moving average price is $542.67. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $609.85. The firm has a market capitalization of $200.11 billion, a price-to-earnings ratio of 35.44, a PEG ratio of 2.53 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $5.15 EPS for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). The company had revenue of $10.69 billion during the quarter, compared to analyst estimates of $10.99 billion. Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. Thermo Fisher Scientific’s revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.51 earnings per share. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.57%.

About Thermo Fisher Scientific

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.