Johnson Investment Counsel Inc. Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Johnson Investment Counsel Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 9,359 shares of the medical research company’s stock after acquiring an additional 309 shares during the period. Johnson Investment Counsel Inc.’s holdings in Thermo Fisher Scientific were worth $5,176,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TMO. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $2,909,524,000. Capital World Investors lifted its position in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Swedbank AB purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at $705,636,000. Veritas Asset Management LLP lifted its position 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 buying an additional 697,383 shares during the last quarter. Finally, Winslow Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $333,786,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 in the last ninety days. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of analyst reports. TD Cowen boosted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group reiterated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Raymond James boosted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus boosted their price objective on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $614.16 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 firm has a market capitalization of $234.61 billion, a PE ratio of 39.39, a price-to-earnings-growth ratio of 2.88 and a beta of 0.78. The business’s 50-day moving average price is $590.68 and its 200-day moving average price is $579.73. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company earned $5.15 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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 issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

About Thermo Fisher Scientific

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.