EverSource Wealth Advisors LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

EverSource Wealth Advisors LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the first quarter, HoldingsChannel reports. The firm owned 1,377 shares of the medical research company’s stock after buying an additional 65 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $784,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Westwood Holdings Group Inc. grew its position in Thermo Fisher Scientific by 54.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock worth $717,000 after acquiring an additional 437 shares in the last quarter. DekaBank Deutsche Girozentrale grew its position in Thermo Fisher Scientific by 10.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 767,218 shares of the medical research company’s stock worth $442,884,000 after acquiring an additional 71,066 shares in the last quarter. Pathway Financial Advisers LLC purchased a new position in Thermo Fisher Scientific in the first quarter worth about $824,000. Cetera Advisor Networks LLC lifted its stake in Thermo Fisher Scientific by 5.1% in the first quarter. Cetera Advisor Networks LLC now owns 28,845 shares of the medical research company’s stock worth $16,765,000 after purchasing an additional 1,404 shares during the last quarter. Finally, Cetera Advisors LLC lifted its stake in Thermo Fisher Scientific by 62.5% in the first quarter. Cetera Advisors LLC now owns 16,453 shares of the medical research company’s stock worth $9,563,000 after purchasing an additional 6,327 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were 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 in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,238,340.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,084 shares of company stock worth $19,767,092. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TMO. The Goldman Sachs Group raised their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Raymond James lifted their price objective 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $618.94.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $6.08 during trading hours on Friday, reaching $615.69. The stock had a trading volume of 1,564,731 shares, compared to its average volume of 1,701,727. The stock’s 50 day moving average is $565.52 and its 200 day moving average is $568.26. The firm has a market capitalization of $235.02 billion, a PE ratio of 39.49, a PEG ratio of 2.89 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $622.30. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.15 earnings per share. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 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.