Heritage Wealth Management Inc. Acquires New Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Heritage Wealth Management Inc. acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 619 shares of the medical research company’s stock, valued at approximately $334,000.

Several other institutional investors have also added to or reduced their stakes in TMO. Capital World Investors lifted its position in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new stake in Thermo Fisher Scientific during the 1st quarter worth about $705,636,000. Veritas Asset Management LLP lifted its position in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after buying an additional 697,383 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares in the last quarter. Finally, Putnam Investments LLC lifted its position in Thermo Fisher Scientific by 28.5% during the 4th quarter. Putnam Investments LLC now owns 1,719,355 shares of the medical research company’s stock worth $912,617,000 after buying an additional 381,542 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TMO. Evercore ISI boosted their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Tuesday. Bank of America boosted their price target 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, September 16th. TD Cowen boosted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Raymond James boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $653.72.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $612.72 on Thursday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $234.06 billion, a P/E ratio of 39.30, a P/E/G 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 firm has a 50-day moving average price of $609.50 and a two-hundred day moving average price of $582.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.15 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, 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 legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were 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 owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

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.