Diamond Hill Capital Management Inc. Sells 6,153 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Diamond Hill Capital Management Inc. lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 726,864 shares of the medical research company’s stock after selling 6,153 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.18% of Thermo Fisher Scientific worth $213,465,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of Thermo Fisher Scientific by 4.1% during the 1st quarter. BlackRock Inc. now owns 27,251,678 shares of the medical research company’s stock valued at $7,459,327,000 after acquiring an additional 1,074,400 shares in the last quarter. FMR LLC boosted its position in shares of Thermo Fisher Scientific by 33.5% during the 1st quarter. FMR LLC now owns 11,572,581 shares of the medical research company’s stock valued at $3,167,647,000 after acquiring an additional 2,900,868 shares in the last quarter. Clearbridge Investments LLC boosted its position in shares of Thermo Fisher Scientific by 2.4% during the 1st quarter. Clearbridge Investments LLC now owns 3,089,195 shares of the medical research company’s stock valued at $845,574,000 after acquiring an additional 71,898 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Thermo Fisher Scientific by 22.9% during the 2nd quarter. Janus Henderson Group PLC now owns 2,986,916 shares of the medical research company’s stock valued at $877,186,000 after acquiring an additional 555,802 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Thermo Fisher Scientific by 0.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,706,326 shares of the medical research company’s stock valued at $605,651,000 after acquiring an additional 17,860 shares in the last quarter. Hedge funds and other institutional investors own 88.21% of the company’s stock.

Shares of TMO stock opened at $275.17 on Wednesday. Thermo Fisher Scientific Inc. has a 1 year low of $208.34 and a 1 year high of $305.45. The business’s 50 day moving average is $288.15. The firm has a market capitalization of $110.68 billion, a price-to-earnings ratio of 24.75, a price-to-earnings-growth ratio of 1.81 and a beta of 1.11. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.07.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.03. Thermo Fisher Scientific had a net margin of 14.24% and a return on equity of 17.11%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.31 billion. During the same period in the prior year, the business earned $2.75 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 3.9% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.23 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 6.83%.

Several analysts have recently weighed in on the stock. Argus lifted their target price on shares of Thermo Fisher Scientific from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Credit Suisse Group reiterated a “buy” rating and set a $310.00 target price on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. BTIG Research lifted their target price on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 target price on the stock in a research report on Wednesday, June 12th. Finally, UBS Group lifted their target price on shares of Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Thermo Fisher Scientific currently has an average rating of “Buy” and an average price target of $303.17.

In other news, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total transaction of $670,725.00. Following the transaction, the chief financial officer now directly owns 40,029 shares in the company, valued at $10,739,380.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total transaction of $14,241,500.00. Following the transaction, the chief executive officer now owns 342,193 shares in the company, valued at $97,466,832.19. The disclosure for this sale can be found here. Insiders have sold 52,775 shares of company stock worth $14,986,676 over the last quarter. 0.45% of the stock is owned by company insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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