Profund Advisors LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.1% during the second quarter, Holdings Channel reports. The firm owned 11,808 shares of the medical research company’s stock after selling 3,166 shares during the period. Profund Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,468,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bank of Nova Scotia raised its stake in shares of Thermo Fisher Scientific by 2.6% in the second quarter. Bank of Nova Scotia now owns 105,761 shares of the medical research company’s stock valued at $28,118,000 after buying an additional 2,631 shares during the period. Bank of Nova Scotia Trust Co. bought a new stake in Thermo Fisher Scientific during the second quarter worth about $214,000. APG Asset Management N.V. lifted its stake in Thermo Fisher Scientific by 58.3% during the second quarter. APG Asset Management N.V. now owns 216,459 shares of the medical research company’s stock worth $55,822,000 after purchasing an additional 79,700 shares during the last quarter. Highland Private Wealth Management bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $207,000. Finally, Parametric Portfolio Associates LLC lifted its stake 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 valued at $342,388,000 after acquiring an additional 53,813 shares during the last quarter. Institutional investors and hedge funds own 88.19% of the company’s stock.

Shares of TMO traded up $0.96 during trading hours on Friday, reaching $295.94. 454,786 shares of the company traded hands, compared to its average volume of 1,402,373. The stock has a market capitalization of $115.94 billion, a P/E ratio of 26.61, a P/E/G ratio of 1.89 and a beta of 1.12. The business has a fifty day moving average price of $280.90 and a 200-day moving average price of $276.38. Thermo Fisher Scientific Inc. has a 12-month low of $208.34 and a 12-month high of $305.45. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 earnings per share for the quarter, topping the 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 firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the firm earned $2.75 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts predict 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. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.76 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.83%.

TMO has been the subject of a number of recent analyst reports. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research report on Wednesday, June 12th. UBS Group upped 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. Barclays set a $330.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Monday, July 15th. Wolfe Research started coverage on Thermo Fisher Scientific in a research note on Thursday, May 30th. They set an “outperform” rating on the stock. Finally, BTIG Research increased their price target on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $303.17.

In other news, Director Jim P. Manzi sold 1,833 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $272.93, for a total value of $500,280.69. Following the sale, the director now owns 28,592 shares of the company’s stock, valued at $7,803,614.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 342,193 shares in the company, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. 0.45% of the stock is owned by corporate 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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