Heritage Oak Wealth Advisors LLC Invests $593,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Heritage Oak Wealth Advisors LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the second quarter, Holdings Channel reports. The institutional investor acquired 1,073 shares of the medical research company’s stock, valued at approximately $593,000.

A number of other hedge funds also recently made changes to their positions in TMO. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the last quarter. True Wealth Design LLC raised its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC grew its stake in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, LifeSteps Financial Inc. acquired a new stake in Thermo Fisher Scientific during the first quarter worth approximately $31,000. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TMO shares. Barclays decreased their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Bank of America raised their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $767.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $652.06.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value 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 $76,420,473.36. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.7 %

Shares of NYSE:TMO opened at $618.57 on Tuesday. The business’s 50 day moving average is $607.53 and its 200 day moving average is $582.11. The stock has a market cap of $236.29 billion, a price-to-earnings ratio of 39.68, a PEG ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. 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.