GM Advisory Group LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

GM Advisory Group LLC boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,949 shares of the medical research company’s stock after buying an additional 38 shares during the period. GM Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Beaumont Financial Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock valued at $1,278,000 after purchasing an additional 17 shares in the last quarter. Cedar Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 14.5% in the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after buying an additional 17 shares in the last quarter. Lafayette Investments Inc. increased its holdings in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. raised its position in shares of Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares in the last quarter. Finally, Drive Wealth Management LLC grew its position in Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after acquiring an additional 18 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $620.26 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock has a fifty day simple moving average of $598.25 and a two-hundred day simple moving average of $581.25. The stock has a market capitalization of $236.94 billion, a price-to-earnings ratio of 39.79, a P/E/G ratio of 2.86 and a beta of 0.78.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. The ex-dividend date 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 is currently 10.01%.

Analyst Ratings Changes

Several research firms have recently issued reports on TMO. Royal Bank of Canada raised their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Raymond James increased their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $632.89.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, July 26th. The stock was 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 directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated 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 directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the completion of the sale, the vice president now owns 13,699 shares in the company, valued at $8,397,760.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

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.