Prentice Wealth Management LLC Has $520,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Prentice Wealth Management LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 894 shares of the medical research company’s stock after purchasing an additional 69 shares during the period. Prentice Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $520,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TMO. Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after purchasing an additional 180,618 shares during the last quarter. Morgan Stanley boosted its stake in shares of Thermo Fisher Scientific by 0.4% in the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after purchasing an additional 50,736 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Thermo Fisher Scientific by 6.9% in the 4th quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock valued at $4,240,824,000 after purchasing an additional 517,137 shares during the last quarter. Norges Bank bought a new position in Thermo Fisher Scientific during the fourth quarter worth $2,909,524,000. Finally, Wellington Management Group LLP raised its holdings in Thermo Fisher Scientific by 9.8% during the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after buying an additional 274,464 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. In the last three months, insiders sold 22,000 shares of company stock valued at $12,532,780. Company insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Barclays lifted their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. HSBC lifted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price target on the stock. Finally, Evercore ISI lifted their price target on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $607.94.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded up $3.47 during midday trading on Wednesday, reaching $559.99. 393,271 shares of the company were exchanged, compared to its average volume of 1,508,631. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $603.82. The stock has a fifty day simple moving average of $574.29 and a 200 day simple moving average of $562.30. The stock has a market cap of $213.76 billion, a P/E ratio of 35.65, a PEG ratio of 2.60 and a beta of 0.79. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.