Cozad Asset Management Inc. bought a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 24,485 shares of the medical research company’s stock, valued at approximately $5,072,000. Thermo Fisher Scientific makes up 1.6% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pitcairn Co. raised its holdings in Thermo Fisher Scientific by 1.3% during the second quarter. Pitcairn Co. now owns 16,871 shares of the medical research company’s stock valued at $3,495,000 after acquiring an additional 215 shares during the period. Front Row Advisors LLC raised its holdings in Thermo Fisher Scientific by 4.0% during the first quarter. Front Row Advisors LLC now owns 6,049 shares of the medical research company’s stock valued at $1,249,000 after acquiring an additional 234 shares during the period. Nvwm LLC raised its holdings in Thermo Fisher Scientific by 6.1% during the second quarter. Nvwm LLC now owns 4,231 shares of the medical research company’s stock valued at $877,000 after acquiring an additional 242 shares during the period. Chesapeake Wealth Management raised its holdings in Thermo Fisher Scientific by 6.0% during the second quarter. Chesapeake Wealth Management now owns 4,393 shares of the medical research company’s stock valued at $910,000 after acquiring an additional 249 shares during the period. Finally, Middleton & Co Inc MA raised its holdings in Thermo Fisher Scientific by 2.4% during the second quarter. Middleton & Co Inc MA now owns 10,873 shares of the medical research company’s stock valued at $2,252,000 after acquiring an additional 253 shares during the period. Institutional investors own 85.96% of the company’s stock.

In other news, insider Patrick M. Durbin sold 20,550 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $233.87, for a total value of $4,806,028.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 50,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, August 6th. The stock was sold at an average price of $233.95, for a total value of $11,697,500.00. Following the completion of the sale, the chief executive officer now directly owns 320,122 shares in the company, valued at $74,892,541.90. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

Shares of TMO stock opened at $244.00 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $181.51 and a 12-month high of $244.19. The company has a current ratio of 1.58, a quick ratio of 1.11 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $95.23 billion, a PE ratio of 25.71, a PEG ratio of 1.72 and a beta of 1.12.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a return on equity of 16.28% and a net margin of 10.36%. The firm had revenue of $6.08 billion for the quarter, compared to analysts’ expectations of $5.90 billion. During the same period in the previous year, the firm posted $2.30 earnings per share. The business’s revenue was up 21.8% compared to the same quarter last year. analysts predict that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Friday, September 7th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be issued a $0.17 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 7.17%.

A number of research firms have commented on TMO. Zacks Investment Research cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Tuesday, August 7th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $233.00 to $242.00 and gave the company an “overweight” rating in a report on Thursday, July 26th. Leerink Swann raised their price target on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $300.00 price target on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, ValuEngine raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, July 24th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average target price of $240.82.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics 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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