Dana Investment Advisors Inc. Acquires 19 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Dana Investment Advisors Inc. grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 7,691 shares of the medical research company’s stock after purchasing an additional 19 shares during the period. Dana Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $4,253,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Thermo Fisher Scientific

In other news, VP Lisa P. Britt sold 3,624 shares of the company’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 sale, the vice president now directly owns 13,699 shares in the company, valued at approximately $8,397,760.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Lisa P. Britt sold 3,624 shares of the business’s stock in a transaction that occurred on 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 transaction, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 over the last 90 days. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TMO. Raymond James upped 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. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday. They issued an “overweight” rating and a $680.00 target price for the company. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $767.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, September 20th. Four investment 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Price Performance

TMO stock opened at $612.92 on Wednesday. The company has a market capitalization of $234.13 billion, a PE ratio of 39.31, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. The company’s fifty day moving average price is $608.74 and its 200-day moving average price is $582.32. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year 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.

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 return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the previous year, the firm posted $5.15 earnings per share. The business’s revenue was down 1.4% compared to the same quarter last year. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

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.