Lathrop Investment Management Corp reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.1% during the 2nd quarter, HoldingsChannel reports. The firm owned 48,970 shares of the medical research company’s stock after selling 3,764 shares during the quarter. Thermo Fisher Scientific comprises 5.3% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 3rd biggest position. Lathrop Investment Management Corp’s holdings in Thermo Fisher Scientific were worth $17,744,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Lyell Wealth Management LP lifted its holdings in Thermo Fisher Scientific by 4.4% in the second quarter. Lyell Wealth Management LP now owns 22,796 shares of the medical research company’s stock valued at $8,265,000 after acquiring an additional 951 shares during the last quarter. State of Michigan Retirement System lifted its holdings in Thermo Fisher Scientific by 7.5% in the second quarter. State of Michigan Retirement System now owns 274,518 shares of the medical research company’s stock valued at $99,469,000 after acquiring an additional 19,087 shares during the last quarter. Duality Advisers LP acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $1,501,000. Perigon Wealth Management LLC lifted its holdings in Thermo Fisher Scientific by 1.6% in the second quarter. Perigon Wealth Management LLC now owns 27,245 shares of the medical research company’s stock valued at $9,872,000 after acquiring an additional 432 shares during the last quarter. Finally, Koshinski Asset Management Inc. lifted its holdings in Thermo Fisher Scientific by 0.5% in the second quarter. Koshinski Asset Management Inc. now owns 5,299 shares of the medical research company’s stock valued at $1,920,000 after acquiring an additional 28 shares during the last quarter. Institutional investors and hedge funds own 87.51% of the company’s stock.

Shares of Thermo Fisher Scientific stock traded up $3.39 during trading hours on Friday, reaching $413.95. 1,217,905 shares of the company were exchanged, compared to its average volume of 1,232,426. Thermo Fisher Scientific Inc. has a 1 year low of $250.21 and a 1 year high of $420.99. The stock’s fifty day moving average is $373.97 and its 200 day moving average is $335.37. The company has a debt-to-equity ratio of 0.69, a quick ratio of 2.02 and a current ratio of 2.62. The firm has a market cap of $163.49 billion, a PE ratio of 44.80, a PEG ratio of 1.83 and a beta of 1.04.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 22nd. The medical research company reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $1.22. Thermo Fisher Scientific had a return on equity of 18.18% and a net margin of 14.12%. The business had revenue of $6.92 billion for the quarter, compared to analyst estimates of $6.91 billion. During the same quarter in the prior year, the company earned $3.04 earnings per share. Research analysts expect that Thermo Fisher Scientific Inc. will post 14.95 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date of this dividend is Monday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 7.13%.

In related news, VP Syed A. Jafry sold 20,513 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $414.94, for a total value of $8,511,664.22. Following the transaction, the vice president now owns 26,657 shares of the company’s stock, valued at $11,061,055.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Mark Stevenson sold 25,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $404.58, for a total value of $10,114,500.00. Following the completion of the transaction, the chief operating officer now directly owns 73,621 shares in the company, valued at approximately $29,785,584.18. The disclosure for this sale can be found here. Insiders have sold 171,031 shares of company stock worth $67,284,857 in the last ninety days. Corporate insiders own 0.44% of the company’s stock.

A number of research firms recently commented on TMO. Cleveland Research upgraded Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a report on Wednesday, July 15th. Citigroup upped their price objective on Thermo Fisher Scientific from $390.00 to $471.00 and gave the company a “buy” rating in a report on Thursday, July 23rd. Needham & Company LLC boosted their target price on Thermo Fisher Scientific from $415.00 to $468.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. SVB Leerink boosted their target price on Thermo Fisher Scientific from $365.00 to $455.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Finally, Argus boosted their target price on Thermo Fisher Scientific from $370.00 to $450.00 in a research report on Monday, July 27th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $420.50.

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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