Thermo Fisher Scientific Inc. (NYSE:TMO) is Veritas Investment Management UK Ltd’s 2nd Largest Position

Veritas Investment Management UK Ltd lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 98,106 shares of the medical research company’s stock after selling 8,114 shares during the period. Thermo Fisher Scientific comprises about 8.3% of Veritas Investment Management UK Ltd’s holdings, making the stock its 2nd largest holding. Veritas Investment Management UK Ltd’s holdings in Thermo Fisher Scientific were worth $26,854,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Thermo Fisher Scientific by 4.4% in the 1st quarter. Parallel Advisors LLC now owns 9,416 shares of the medical research company’s stock valued at $2,578,000 after acquiring an additional 393 shares during the period. CX Institutional bought a new stake in Thermo Fisher Scientific in the 1st quarter valued at $36,000. Freestone Capital Holdings LLC raised its stake in Thermo Fisher Scientific by 46.1% in the 4th quarter. Freestone Capital Holdings LLC now owns 10,081 shares of the medical research company’s stock valued at $2,256,000 after acquiring an additional 3,180 shares during the period. Buckingham Asset Management LLC raised its stake in Thermo Fisher Scientific by 6.9% in the 1st quarter. Buckingham Asset Management LLC now owns 2,106 shares of the medical research company’s stock valued at $576,000 after acquiring an additional 136 shares during the period. Finally, Putnam FL Investment Management Co. raised its stake in Thermo Fisher Scientific by 2.9% in the 4th quarter. Putnam FL Investment Management Co. now owns 29,001 shares of the medical research company’s stock valued at $6,490,000 after acquiring an additional 810 shares during the period. 87.96% of the stock is owned by institutional investors and hedge funds.

NYSE:TMO opened at $285.22 on Thursday. Thermo Fisher Scientific Inc. has a twelve month low of $202.83 and a twelve month high of $288.07. The company has a current ratio of 1.69, a quick ratio of 1.16 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $113.70 billion, a P/E ratio of 25.65, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The company had revenue of $6.13 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same period last year, the company earned $2.50 earnings per share. The firm’s revenue was up 4.6% compared to the same quarter last year. Equities analysts predict that Thermo Fisher Scientific Inc. will post 12.2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Friday, June 14th will be paid a dividend of $0.19 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.76 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is currently 6.83%.

In related news, Director C Martin Harris sold 275 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total transaction of $74,450.75. Following the completion of the sale, the director now owns 6,433 shares of the company’s stock, valued at $1,741,606.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $268.29, for a total value of $670,725.00. Following the sale, the chief financial officer now directly owns 40,029 shares of the company’s stock, valued at approximately $10,739,380.41. The disclosure for this sale can be found here. Insiders have sold 53,488 shares of company stock valued at $14,600,474 in the last ninety days. 0.45% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on TMO shares. Barclays increased their price target on Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Deutsche Bank upped their price objective on Thermo Fisher Scientific from $275.00 to $300.00 and gave the company a “buy” rating in a report on Friday, March 22nd. UBS Group upped their price objective on Thermo Fisher Scientific to $305.00 and gave the company a “buy” rating in a report on Monday, March 25th. BTIG Research upped their price objective on Thermo Fisher Scientific to $310.00 and gave the company a “buy” rating in a report on Tuesday, March 26th. Finally, Robert W. Baird upped their price objective on Thermo Fisher Scientific from $270.00 to $288.00 and gave the company an “outperform” rating in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $295.92.

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

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