Miracle Mile Advisors LLC Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Miracle Mile Advisors LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.3% in the 1st quarter, Holdings Channel reports. The fund owned 5,440 shares of the medical research company’s stock after buying an additional 121 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,162,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Thermo Fisher Scientific by 0.6% in the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock worth $16,582,503,000 after acquiring an additional 180,618 shares in the last quarter. Morgan Stanley grew its position in Thermo Fisher Scientific by 0.4% in the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after acquiring an additional 50,736 shares in the last quarter. Capital Research Global Investors grew its position in Thermo Fisher Scientific by 6.9% in the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after acquiring an additional 517,137 shares in the last quarter. Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter worth $2,909,524,000. Finally, Wellington Management Group LLP grew its position in Thermo Fisher Scientific by 9.8% in the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after acquiring an additional 274,464 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on TMO. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. The Goldman Sachs Group boosted their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Barclays lowered their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $607.06.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $12,532,780 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.0 %

NYSE:TMO opened at $541.72 on Tuesday. The firm has a 50-day simple moving average of $574.84 and a two-hundred day simple moving average of $563.36. The firm has a market cap of $206.79 billion, a P/E ratio of 34.75, a P/E/G ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Analysts predict that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.