Alaethes Wealth LLC Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Alaethes Wealth LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,093 shares of the medical research company’s stock after purchasing an additional 90 shares during the period. Alaethes Wealth LLC’s holdings in Thermo Fisher Scientific were worth $1,711,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TMO. Accretive Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 8.1% in the fourth quarter. Accretive Wealth Partners LLC now owns 640 shares of the medical research company’s stock valued at $340,000 after purchasing an additional 48 shares in the last quarter. Aveo Capital Partners LLC lifted its position in shares of Thermo Fisher Scientific by 9.7% during the 4th quarter. Aveo Capital Partners LLC now owns 816 shares of the medical research company’s stock worth $433,000 after buying an additional 72 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of Thermo Fisher Scientific by 8.5% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,484 shares of the medical research company’s stock valued at $794,000 after buying an additional 116 shares during the last quarter. TrinityPoint Wealth LLC raised its stake in Thermo Fisher Scientific by 4.2% during the 4th quarter. TrinityPoint Wealth LLC now owns 4,080 shares of the medical research company’s stock worth $2,166,000 after acquiring an additional 164 shares in the last quarter. Finally, SageView Advisory Group LLC boosted its stake in Thermo Fisher Scientific by 11.3% in the fourth quarter. SageView Advisory Group LLC now owns 3,532 shares of the medical research company’s stock valued at $2,003,000 after acquiring an additional 359 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective on the stock. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research note on Friday. Finally, Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of TMO stock opened at $613.69 on Friday. 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 Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The stock has a market cap of $234.26 billion, a price-to-earnings ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The firm’s 50 day moving average price is $599.56 and its two-hundred day moving average price is $581.47.

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

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 owns 123,816 shares in the company, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

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.