Worth Financial Advisory Group LLC Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Worth Financial Advisory Group LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 544 shares of the medical research company’s stock after purchasing an additional 19 shares during the period. Worth Financial Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $301,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Northwest Financial Advisors bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. True Wealth Design LLC boosted its stake in 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 valued at $29,000 after buying an additional 51 shares during the period. New Millennium Group LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter worth about $29,000. Finally, LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TMO shares. Evercore ISI dropped their target price on shares of 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. TD Cowen raised their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Wells Fargo & Company began coverage on Thermo Fisher Scientific in a research report on Tuesday. They set an “overweight” rating and a $670.00 price objective on the stock. Royal Bank of Canada increased their price target on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Raymond James upped their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $630.41.

Thermo Fisher Scientific Price Performance

TMO traded up $4.81 during trading on Tuesday, hitting $610.40. The company’s stock had a trading volume of 737,046 shares, compared to its average volume of 1,519,608. The firm has a market capitalization of $233.17 billion, a price-to-earnings ratio of 39.15, a P/E/G ratio of 2.81 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 business’s fifty day simple moving average is $574.90 and its 200 day simple moving average is $574.35. 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 announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) 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 analyst estimates of $10.50 billion. During the same quarter in the previous year, the company earned $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS 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 given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s 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 completion of the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on 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 sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The disclosure for this sale can be found here. Insiders sold 33,084 shares of company stock valued at $19,767,092 in the last three months. 0.34% of the stock is owned by corporate 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.