Oppenheimer Asset Management Inc. Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Oppenheimer Asset Management Inc. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 82,916 shares of the medical research company’s stock after purchasing an additional 17,913 shares during the period. Thermo Fisher Scientific comprises 0.6% of Oppenheimer Asset Management Inc.’s holdings, making the stock its 29th biggest position. Oppenheimer Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $45,853,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Beaumont Financial Advisors LLC boosted its holdings in Thermo Fisher Scientific by 0.8% during the 1st quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares during the period. Cedar Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific by 14.5% in the first 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. lifted its holdings in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Thermo Fisher Scientific by 1.8% in the 2nd 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 increased its position in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after acquiring an additional 18 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were 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 directly owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were 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 directly 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 SEC, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,860,920.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on TMO. Royal Bank of Canada boosted their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus upped their target price 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. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Robert W. Baird increased their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.41.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $611.17 on Friday. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a market cap of $233.47 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.88 and a beta of 0.78. The stock has a 50 day moving average of $592.10 and a two-hundred day moving average of $580.06. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month 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 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 firm had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed 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 0.26%. Thermo Fisher Scientific’s payout ratio is 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.