ACT Wealth Management LLC Acquires Shares of 340 Thermo Fisher Scientific Inc. (NYSE:TMO)

ACT Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 340 shares of the medical research company’s stock, valued at approximately $210,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Signature Resources Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. True Wealth Design LLC lifted its position 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 worth $29,000 after purchasing an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% during the 2nd 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 in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in Thermo Fisher Scientific in the 1st quarter valued at about $32,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $595.45 on Wednesday. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The business’s 50 day moving average price is $608.95 and its 200 day moving average price is $582.99. The firm has a market cap of $227.46 billion, a P/E ratio of 38.17, a P/E/G ratio of 3.83 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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. 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 the consensus estimate of $10.50 billion. During the same quarter in the prior year, the business earned $5.15 earnings per share. The company’s revenue was down 1.4% compared to the same quarter last year. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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 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 yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TMO shares. Robert W. Baird lifted their target price on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. 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 report on Friday, September 20th. Finally, Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Four equities research 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’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $653.72.

Insider Buying and Selling at Thermo Fisher Scientific

In related 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 owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Michael A. Boxer sold 2,000 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 value of $1,201,700.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,860,920.55. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, July 26th. The shares were 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 of the company’s stock, valued at $10,747,403.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.