Wallace Advisory Group LLC Has $1.85 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wallace Advisory Group LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,984 shares of the medical research company’s stock after selling 37 shares during the period. Thermo Fisher Scientific accounts for 1.3% of Wallace Advisory Group LLC’s portfolio, making the stock its 16th largest holding. Wallace Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $1,846,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC grew its holdings in 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 purchasing an additional 35 shares during the last quarter. True Wealth Design LLC boosted its position in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the period. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC boosted its position in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $31,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Evercore ISI raised their target price on Thermo Fisher Scientific from $605.00 to $630.00 and gave the stock an “outperform” rating in a research report on Tuesday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Barclays reduced their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Finally, Stifel Nicolaus raised their target price on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $653.72.

Thermo Fisher Scientific Trading Down 0.4 %

TMO stock traded down $2.31 during midday trading on Friday, reaching $598.61. The stock had a trading volume of 871,514 shares, compared to its average volume of 1,279,872. The business has a fifty day simple moving average of $609.46 and a two-hundred day simple moving average of $582.78. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The firm has a market cap of $228.67 billion, a price-to-earnings ratio of 38.40, a PEG ratio of 3.88 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company earned $5.15 earnings per share. As a group, research analysts expect 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. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is currently owned by company insiders.

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.