Coronation Fund Managers Ltd. Takes Position in Thermo Fisher Scientific Inc (NYSE:TMO)

Coronation Fund Managers Ltd. purchased a new position in Thermo Fisher Scientific Inc (NYSE:TMO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 17,269 shares of the medical research company’s stock, valued at approximately $3,013,000.

Several other institutional investors have also modified their holdings of TMO. Vanguard Group Inc. lifted its holdings in Thermo Fisher Scientific by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 25,971,301 shares of the medical research company’s stock valued at $3,989,193,000 after purchasing an additional 695,079 shares during the last quarter. BlackRock Inc. raised its stake in shares of Thermo Fisher Scientific by 2,692.1% in the first quarter. BlackRock Inc. now owns 22,988,885 shares of the medical research company’s stock worth $3,531,095,000 after acquiring an additional 22,165,530 shares during the last quarter. State Street Corp raised its stake in shares of Thermo Fisher Scientific by 1.0% in the first quarter. State Street Corp now owns 16,085,954 shares of the medical research company’s stock worth $2,470,802,000 after acquiring an additional 164,367 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Thermo Fisher Scientific by 5.6% in the first quarter. Wellington Management Group LLP now owns 7,512,152 shares of the medical research company’s stock worth $1,153,867,000 after acquiring an additional 398,622 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Thermo Fisher Scientific by 7.6% in the first quarter. Morgan Stanley now owns 4,664,882 shares of the medical research company’s stock worth $716,526,000 after acquiring an additional 327,826 shares during the last quarter. Institutional investors and hedge funds own 83.52% of the company’s stock.

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Shares of Thermo Fisher Scientific Inc (NYSE:TMO) traded down 0.55% during midday trading on Friday, reaching $190.63. 3,274,947 shares of the company’s stock were exchanged. The company has a market cap of $74.37 billion, a P/E ratio of 33.21 and a beta of 1.05. The firm has a 50 day moving average price of $180.21 and a 200 day moving average price of $170.53. Thermo Fisher Scientific Inc has a 12 month low of $139.07 and a 12 month high of $194.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, topping the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the company earned $2.03 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc will post $9.35 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.45%.

In related news, VP Seth H. Hoogasian sold 4,140 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $177.80, for a total transaction of $736,092.00. Following the sale, the vice president now owns 25,518 shares of the company’s stock, valued at approximately $4,537,100.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jim P. Manzi sold 11,318 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $172.94, for a total value of $1,957,334.92. Following the sale, the director now directly owns 38,757 shares in the company, valued at approximately $6,702,635.58. The disclosure for this sale can be found here. Insiders sold 22,738 shares of company stock worth $4,021,512 in the last ninety days. Corporate insiders own 0.49% of the company’s stock.

Several equities research analysts have recently commented on TMO shares. Cowen and Company restated an “outperform” rating and set a $220.00 price objective (up previously from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 11th. Citigroup Inc. reiterated a “buy” rating and issued a $201.00 price target (up previously from $182.00) on shares of Thermo Fisher Scientific in a report on Monday, July 10th. Finally, Barclays PLC reissued an “overweight” rating and issued a $200.00 price objective (up previously from $190.00) on shares of Thermo Fisher Scientific in a research report on Monday, July 17th. One research analyst has rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus price target of $193.56.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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