Thrive Wealth Management LLC Has $1.99 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Thrive Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the third quarter, Holdings Channel.com reports. The fund owned 3,210 shares of the medical research company’s stock after acquiring an additional 44 shares during the quarter. Thrive Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,985,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Rockland Trust Co. lifted its position in shares of Thermo Fisher Scientific by 1.6% in the 3rd quarter. Rockland Trust Co. now owns 30,338 shares of the medical research company’s stock worth $18,766,000 after purchasing an additional 483 shares during the period. Abacus Wealth Partners LLC acquired a new position in Thermo Fisher Scientific in the third quarter valued at $286,000. Apella Capital LLC grew its holdings in Thermo Fisher Scientific by 8.5% during the 3rd quarter. Apella Capital LLC now owns 538 shares of the medical research company’s stock worth $330,000 after acquiring an additional 42 shares during the period. Farmers Trust Co. lifted its stake in shares of Thermo Fisher Scientific by 70.9% in the 3rd quarter. Farmers Trust Co. now owns 622 shares of the medical research company’s stock valued at $385,000 after purchasing an additional 258 shares during the period. Finally, Czech National Bank grew its stake in Thermo Fisher Scientific by 7.0% during the third quarter. Czech National Bank now owns 77,816 shares of the medical research company’s stock worth $48,135,000 after purchasing an additional 5,076 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $2.31 during trading hours on Friday, reaching $598.61. The stock had a trading volume of 870,306 shares, compared to its average volume of 1,279,872. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a 50 day simple moving average of $609.46 and a 200 day simple moving average of $582.78. The stock has a market cap of $228.67 billion, a P/E ratio of 38.40, a price-to-earnings-growth ratio of 3.88 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. The business had revenue of $10.54 billion for 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 company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.15 earnings per share. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend 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, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 of the company’s stock, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related 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 transaction of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In 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.

Analysts Set New Price Targets

Several research firms have recently weighed in on TMO. Barclays lowered their price objective 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, June 28th. Bank of America increased their price objective 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. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Evercore ISI increased their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $653.72.

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.