Providence Capital Advisors LLC Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)
Providence Capital Advisors LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 33.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,739 shares of the medical research company’s stock after selling 3,400 shares during the quarter. Providence Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,979,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of TMO. Bank of Nova Scotia Trust Co. bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth about $214,000. APG Asset Management N.V. lifted its holdings in Thermo Fisher Scientific by 58.3% in the 2nd quarter. APG Asset Management N.V. now owns 216,459 shares of the medical research company’s stock worth $55,822,000 after buying an additional 79,700 shares during the period. Highland Private Wealth Management purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $207,000. Parametric Portfolio Associates LLC grew its position in shares of Thermo Fisher Scientific by 4.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,165,853 shares of the medical research company’s stock worth $342,388,000 after buying an additional 53,813 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its position in shares of Thermo Fisher Scientific by 7,658.5% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 77,119 shares of the medical research company’s stock worth $245,000 after buying an additional 76,125 shares during the last quarter. Hedge funds and other institutional investors own 88.19% of the company’s stock.
In other news, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $272.93, for a total transaction of $500,280.69. Following the completion of the transaction, the director now directly owns 28,592 shares in the company, valued at $7,803,614.56. The transaction 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 Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, July 30th. The shares were 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 of the company’s stock, valued at $97,466,832.19. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate insiders.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.03. The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.75 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current fiscal year.
The firm 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 $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Monday, September 16th. Thermo Fisher Scientific’s dividend payout ratio is presently 6.83%.
Several equities analysts have recently issued reports on the company. Wolfe Research assumed coverage on Thermo Fisher Scientific in a research note on Thursday, May 30th. They set an “outperform” rating on the stock. UBS Group raised their price target on Thermo Fisher Scientific from $305.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Needham & Company LLC lifted their price target on shares of Thermo Fisher Scientific from $315.00 to $321.00 and gave the company a “buy” rating in a report on Thursday, July 25th. BTIG Research boosted their price objective on shares of Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price objective on the stock in a research report on Wednesday, June 12th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $303.17.
Thermo Fisher Scientific Company Profile
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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