Waddell & Reed Financial Inc. reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.6% during the second quarter, HoldingsChannel reports. The firm owned 108,950 shares of the medical research company’s stock after selling 24,830 shares during the period. Waddell & Reed Financial Inc.’s holdings in Thermo Fisher Scientific were worth $22,568,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its position in Thermo Fisher Scientific by 2.0% in the first quarter. BlackRock Inc. now owns 24,582,453 shares of the medical research company’s stock worth $5,075,294,000 after acquiring an additional 475,267 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Thermo Fisher Scientific by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 2,670,961 shares of the medical research company’s stock worth $553,246,000 after acquiring an additional 82,255 shares in the last quarter. Brown Advisory Inc. raised its position in Thermo Fisher Scientific by 2.4% in the first quarter. Brown Advisory Inc. now owns 2,144,864 shares of the medical research company’s stock worth $442,830,000 after acquiring an additional 49,320 shares in the last quarter. Janus Henderson Group PLC raised its position in Thermo Fisher Scientific by 1.7% in the second quarter. Janus Henderson Group PLC now owns 2,036,659 shares of the medical research company’s stock worth $421,880,000 after acquiring an additional 34,401 shares in the last quarter. Finally, Royal Bank of Canada raised its position in Thermo Fisher Scientific by 1.5% in the first quarter. Royal Bank of Canada now owns 2,011,731 shares of the medical research company’s stock worth $415,343,000 after acquiring an additional 30,355 shares in the last quarter. Institutional investors and hedge funds own 85.91% of the company’s stock.

Several brokerages have commented on TMO. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a research report on Tuesday, July 24th. Leerink Swann boosted their price target on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the stock an “outperform” rating in a research report on Thursday, July 26th. ValuEngine cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $230.00 to $233.00 and gave the stock an “overweight” rating in a research report on Friday, July 13th. Finally, Goldman Sachs Group cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $240.82.

In related 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 at this link. 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 transaction, the chief executive officer now directly owns 320,122 shares in the company, valued at approximately $74,892,541.90. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Shares of TMO opened at $239.10 on Wednesday. The stock has a market capitalization of $97.47 billion, a P/E ratio of 25.19, a P/E/G ratio of 1.76 and a beta of 1.13. Thermo Fisher Scientific Inc. has a 1-year low of $181.51 and a 1-year high of $244.37. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Monday, September 17th will be paid a $0.17 dividend. The ex-dividend date is Friday, September 14th. This represents a $0.68 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.

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

Thermo Fisher Scientific Company 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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