Providence Capital Advisors LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Providence Capital Advisors LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,456 shares of the medical research company’s stock after purchasing an additional 103 shares during the period. Providence Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $5,782,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. LifeSteps Financial Inc. bought a new position in Thermo Fisher Scientific in the first quarter worth about $31,000. New Millennium Group LLC bought a new position in Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of 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 valued at $29,000 after buying an additional 51 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following 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 can be accessed through this link. In other news, EVP Gianluca Pettiti sold 300 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 $180,255.00. Following the completion of the transaction, 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. Also, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. 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. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $610.35 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $627.88. The stock has a market cap of $232.98 billion, a PE ratio of 39.15, a PEG ratio of 2.86 and a beta of 0.78. 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 firm’s 50 day moving average price is $600.88 and its two-hundred day moving average price is $581.47.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share 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 analyst estimates of $10.50 billion. During the same period last year, the business posted $5.15 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TMO shares. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Stifel Nicolaus lifted their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research note on Friday. Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price objective for the company. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $647.78.

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.