Legacy Financial Advisors Inc. Has $1.17 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Legacy Financial Advisors Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,115 shares of the medical research company’s stock after buying an additional 144 shares during the period. Legacy Financial Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $1,170,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of TMO. Westwood Holdings Group Inc. boosted its stake in Thermo Fisher Scientific by 80.5% in the second quarter. Westwood Holdings Group Inc. now owns 2,226 shares of the medical research company’s stock valued at $1,231,000 after acquiring an additional 993 shares during the last quarter. Bulltick Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 5.4% in the 2nd quarter. Bulltick Wealth Management LLC now owns 701 shares of the medical research company’s stock worth $388,000 after buying an additional 36 shares during the period. Transatlantique Private Wealth LLC boosted its stake in Thermo Fisher Scientific by 0.4% in the 2nd quarter. Transatlantique Private Wealth LLC now owns 5,734 shares of the medical research company’s stock worth $3,155,000 after purchasing an additional 24 shares during the period. Summit Trail Advisors LLC increased its position in shares of Thermo Fisher Scientific by 3.9% during the second quarter. Summit Trail Advisors LLC now owns 4,164 shares of the medical research company’s stock valued at $2,304,000 after buying an additional 157 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of Thermo Fisher Scientific by 5.5% in the second quarter. Thrivent Financial for Lutherans now owns 119,619 shares of the medical research company’s stock worth $66,148,000 after buying an additional 6,185 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $613.69 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The firm has a fifty day moving average price of $599.56 and a 200-day moving average price of $581.47. The stock has a market cap of $234.26 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 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 business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the previous year, the company earned $5.15 EPS. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared 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. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.25%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, SVP Michael A. Boxer sold 2,000 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 value of $1,201,700.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the 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 owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Robert W. Baird increased their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company initiated 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. Finally, Morgan Stanley boosted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday. Four research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $647.78.

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.