Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 431 shares of the medical research company’s stock after selling 183 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Thermo Fisher Scientific were worth $238,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Beaumont Financial Advisors LLC raised its holdings in Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after acquiring an additional 17 shares in the last quarter. Cedar Wealth Management LLC increased its stake in Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. increased its stake in Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the last quarter. Finally, Drive Wealth Management LLC increased its stake in Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The disclosure for this sale can be found here. Insiders sold a total of 23,084 shares of company stock worth $14,094,292 in the last three months. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on TMO. Wells Fargo & Company began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. Jefferies Financial Group reiterated 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. Robert W. Baird raised their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $632.89.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $610.12 on Thursday. The stock’s 50 day moving average price is $596.69 and its 200 day moving average price is $580.98. The firm has a market capitalization of $233.07 billion, a PE ratio of 39.14, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the company posted $5.15 EPS. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

About Thermo Fisher Scientific

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.