Bowie Capital Management LLC Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bowie Capital Management LLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 47.7% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,400 shares of the medical research company’s stock after selling 39,558 shares during the quarter. Thermo Fisher Scientific makes up about 1.5% of Bowie Capital Management LLC’s holdings, making the stock its 22nd biggest position. Bowie Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $24,000,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. Koss Olinger Consulting LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $294,000. Caprock Group LLC increased its holdings in shares of Thermo Fisher Scientific by 39.0% during the 2nd quarter. Caprock Group LLC now owns 9,695 shares of the medical research company’s stock worth $5,366,000 after buying an additional 2,719 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $56,462,000. Umpqua Bank increased its holdings in shares of Thermo Fisher Scientific by 7.6% during the 2nd quarter. Umpqua Bank now owns 4,441 shares of the medical research company’s stock worth $2,456,000 after buying an additional 315 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its holdings in shares of Thermo Fisher Scientific by 3.6% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 683 shares of the medical research company’s stock worth $378,000 after buying an additional 24 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $611.33 on Friday. 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 firm’s 50-day moving average price is $584.07 and its two-hundred day moving average price is $578.20. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $622.30. The stock has a market capitalization of $233.35 billion, a P/E ratio of 39.21, a P/E/G ratio of 2.85 and a beta of 0.78.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Wall Street Analyst Weigh In

TMO has been the subject of a number of research analyst reports. Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Raymond James increased their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $630.41.

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.