Parsons Capital Management Inc. RI Decreases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parsons Capital Management Inc. RI cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,472 shares of the medical research company’s stock after selling 602 shares during the period. Thermo Fisher Scientific makes up 1.1% of Parsons Capital Management Inc. RI’s holdings, making the stock its 14th largest position. Parsons Capital Management Inc. RI’s holdings in Thermo Fisher Scientific were worth $16,851,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Thermo Fisher Scientific by 0.4% during the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock worth $19,235,605,000 after acquiring an additional 117,353 shares during the period. Capital World Investors increased its holdings in shares of 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 during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after acquiring an additional 156,675 shares during the last quarter. Capital Research Global Investors increased its stake in Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after acquiring an additional 123,523 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $2,909,524,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $3.23 during midday trading on Monday, reaching $607.21. The company had a trading volume of 959,405 shares, compared to its average volume of 1,544,164. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $571.38 and a 200 day moving average price of $572.43. The firm has a market capitalization of $231.78 billion, a PE ratio of 38.95, a P/E/G ratio of 2.80 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $622.30.

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, topping the consensus estimate of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.15 earnings per share. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared 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 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Raymond James lifted their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Barclays dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada increased their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and set a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $618.94.

Insider Activity

In related 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 value of $6,172,100.00. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were 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 of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 33,084 shares of company stock worth $19,767,092 in the last ninety days. Corporate insiders own 0.34% of the company’s stock.

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.