E Fund Management Co. Ltd. Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

E Fund Management Co. Ltd. boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.6% during the second quarter, HoldingsChannel reports. The firm owned 4,783 shares of the medical research company’s stock after buying an additional 298 shares during the period. E Fund Management Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TMO. Capital World Investors raised its stake 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 valued at $7,842,762,000 after purchasing an additional 1,231,059 shares in the last quarter. Swedbank AB purchased a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Veritas Asset Management LLP raised its stake in shares of Thermo Fisher Scientific by 70.1% during the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after acquiring an additional 697,383 shares in the last quarter. Winslow Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $333,786,000. Finally, Capital Research Global Investors raised its stake in shares of Thermo Fisher Scientific by 6.9% during the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after acquiring an additional 517,137 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the topic of several research reports. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Stifel Nicolaus lifted 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. Robert W. Baird lifted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI decreased their target price on shares of 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. Finally, TD Cowen lifted 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 research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $632.89.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 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 $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $610.26 on Wednesday. The stock has a market cap of $232.95 billion, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The firm’s fifty day simple moving average is $595.23 and its 200 day simple moving average is $580.77. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the previous year, the business posted $5.15 EPS. The company’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

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.