Summit X LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 5.7% during the first quarter, Holdings Channel.com reports. The firm owned 2,539 shares of the medical research company’s stock after selling 154 shares during the period. Summit X LLC’s holdings in Thermo Fisher Scientific were worth $1,464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Silicon Valley Capital Partners purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $29,000. OLD Mission Capital LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter valued at $31,000. Richard W. Paul & Associates LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter valued at $34,000. Live Oak Investment Partners purchased a new position in Thermo Fisher Scientific in the 4th quarter valued at $36,000. Finally, Grey Fox Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 96.33% of the company’s stock.

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Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 1,600 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $550.60, for a total value of $880,960.00. Following the transaction, the chief executive officer now directly owns 135,330 shares of the company’s stock, valued at approximately $74,512,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marc N. Casper sold 1,600 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $550.60, for a total value of $880,960.00. Following the transaction, the chief executive officer now directly owns 135,330 shares of the company’s stock, valued at approximately $74,512,698. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total transaction of $5,490,000.00. Following the sale, the chief executive officer now owns 141,330 shares of the company’s stock, valued at approximately $77,590,170. The disclosure for this sale can be found here. Insiders have sold 25,700 shares of company stock valued at $14,125,960 in the last ninety days. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $660.00 to $670.00 in a report on Thursday, July 27th. Credit Suisse Group upgraded Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target on the stock in a report on Thursday, July 13th. StockNews.com started coverage on Thermo Fisher Scientific in a report on Thursday. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $662.00 to $698.00 in a report on Thursday, July 27th. Finally, Citigroup reduced their price target on Thermo Fisher Scientific from $700.00 to $650.00 in a report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $633.50.

Check Out Our Latest Report on TMO

Thermo Fisher Scientific Stock Down 0.8 %

Shares of Thermo Fisher Scientific stock traded down $4.09 on Friday, reaching $531.87. 558,244 shares of the company were exchanged, compared to its average volume of 1,498,537. Thermo Fisher Scientific Inc. has a 1-year low of $475.77 and a 1-year high of $609.85. The company has a market cap of $205.28 billion, a P/E ratio of 36.63, a price-to-earnings-growth ratio of 2.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.42 and a quick ratio of 1.02. The stock’s 50 day moving average price is $534.90 and its 200-day moving average price is $546.06.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced 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). Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the prior year, the firm posted $5.51 earnings per share. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 22.37 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s payout ratio is 9.57%.

Thermo Fisher Scientific Company Profile

(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.

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