Wedmont Private Capital Acquires 277 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Wedmont Private Capital grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,640 shares of the medical research company’s stock after purchasing an additional 277 shares during the period. Wedmont Private Capital’s holdings in Thermo Fisher Scientific were worth $966,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $29,000. True Wealth Design LLC lifted its stake in 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 purchasing an additional 51 shares during the last quarter. Pineridge Advisors LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter worth about $39,000. Cape Investment Advisory Inc. increased its holdings in shares of Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after buying an additional 26 shares during the period. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 49.1% in the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after buying an additional 27 shares during the period. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on TMO shares. Barclays lifted their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Citigroup started coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective on the stock. Evercore ISI lifted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, The Goldman Sachs Group boosted their price target on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $607.94.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock valued at $12,532,780 in the last ninety days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Up 1.3 %

TMO stock opened at $564.60 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The business’s 50 day moving average price is $574.09 and its two-hundred day moving average price is $560.37. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The company has a market capitalization of $215.52 billion, a price-to-earnings ratio of 36.22, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be given a $0.39 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio 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.