Miracle Mile Advisors LLC Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Miracle Mile Advisors LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,760 shares of the medical research company’s stock after acquiring an additional 320 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,185,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Northwest Financial Advisors acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. True Wealth Design LLC lifted its holdings in shares of Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific during the first quarter worth $31,000. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded up $0.29 during mid-day trading on Friday, reaching $603.98. 1,076,197 shares of the stock were exchanged, compared to its average volume of 1,714,754. 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 1 year low of $415.60 and a 1 year high of $622.30. The company has a 50 day simple moving average of $570.86 and a 200-day simple moving average of $571.77. The stock has a market capitalization of $230.72 billion, a P/E ratio of 38.74, a P/E/G ratio of 2.80 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.15 EPS. Analysts anticipate 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 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 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 33,084 shares of company stock valued at $19,767,092. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have commented on TMO shares. Royal Bank of Canada boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft increased their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Barclays decreased their price target 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. Finally, Raymond James raised 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $618.94.

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.