Midwest Investment Management Lowers stake in Thermo Fisher Scientific (TMO)

Thermo Fisher Scientific (TMO) : Midwest Investment Management reduced its stake in Thermo Fisher Scientific by 2.47% during the most recent quarter end. The investment management company now holds a total of 20,505 shares of Thermo Fisher Scientific which is valued at $3,228,717 after selling 520 shares in Thermo Fisher Scientific , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Thermo Fisher Scientific makes up approximately 2.55% of Midwest Investment Management’s portfolio.

Other Hedge Funds, Including , Evercore Wealth Management boosted its stake in TMO in the latest quarter, The investment management firm added 12,954 additional shares and now holds a total of 278,421 shares of Thermo Fisher Scientific which is valued at $43,433,676. Thermo Fisher Scientific makes up approx 1.87% of Evercore Wealth Management’s portfolio.Proficio Capital Partners boosted its stake in TMO in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 334 shares of Thermo Fisher Scientific which is valued at $53,053. Thermo Fisher Scientific makes up approx 0.03% of Proficio Capital Partners’s portfolio.Beck Mack Oliver reduced its stake in TMO by selling 300 shares or 9.95% in the most recent quarter. The Hedge Fund company now holds 2,715 shares of TMO which is valued at $431,251. Thermo Fisher Scientific makes up approx 0.01% of Beck Mack Oliver’s portfolio.

Thermo Fisher Scientific closed down -0.3 points or -0.19% at $154.67 with 9,16,390 shares getting traded on Wednesday. Post opening the session at $155.46, the shares hit an intraday low of $153.67 and an intraday high of $155.54 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Thermo Fisher Scientific reported $2.03 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $2.01. The company had revenue of $4535.20 million for the quarter, compared to analysts expectations of $4493.28 million. The company’s revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.84 EPS.

Investors should note that on Jul 7, 2016, Thermo Fisher Scientific announced a cash dividend of $0.1500. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 17, 2016.

Many Wall Street Analysts have commented on Thermo Fisher Scientific. Company shares were Reiterated by Mizuho on May 27, 2016 to “Buy”, Firm has raised the Price Target to $ 170 from a previous price target of $166 .Company shares were Reiterated by Mizuho on May 19, 2016 to “Buy”, Firm has raised the Price Target to $ 166 from a previous price target of $163 .

Thermo Fisher Scientific Inc. is a provider of analytical instruments equipment reagents and consumables software and services for research manufacturing analysis discovery and diagnostics. The company operates through four segments: Life Sciences Solutions provides reagents instruments and consumables used in biological and medical research discovery and production of new drugs and vaccines as well as diagnosis of disease; Analytical Instruments provides instruments consumables software and services that are used in the laboratory; Specialty Diagnostics offers diagnostic test kits reagents culture media instruments and associated products and Laboratory Products and Services offers self-manufactured and sourced products for the laboratory.

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