Atomi Financial Group Inc. Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Atomi Financial Group Inc. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 81.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,829 shares of the medical research company’s stock after buying an additional 1,269 shares during the quarter. Atomi Financial Group Inc.’s holdings in Thermo Fisher Scientific were worth $1,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Brookstone Capital Management boosted its stake in shares of Thermo Fisher Scientific by 252.4% during the 1st quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock valued at $2,550,000 after purchasing an additional 3,142 shares in the last quarter. Leo Wealth LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $1,117,000. BDF Gestion bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $6,368,000. Aviance Capital Partners LLC boosted its position in shares of Thermo Fisher Scientific by 20.9% during the first quarter. Aviance Capital Partners LLC now owns 13,043 shares of the medical research company’s stock valued at $7,581,000 after purchasing an additional 2,251 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its stake in Thermo Fisher Scientific by 1.9% in the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $595.14 on Wednesday. The firm has a market cap of $227.34 billion, a PE ratio of 38.17, a P/E/G ratio of 3.83 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $609.35 and a two-hundred day simple moving average of $582.90.

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, beating 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 company 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 company earned $5.15 earnings per share. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 directly owns 17,887 shares in the company, valued at approximately $10,747,403.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last 90 days. 0.34% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. 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. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Raymond James lifted their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Morgan Stanley upped their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, TD Cowen lifted their price objective on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $653.72.

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.