Reliant Investment Management LLC Increases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Reliant Investment Management LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,173 shares of the medical research company’s stock after buying an additional 80 shares during the quarter. Thermo Fisher Scientific accounts for 3.3% of Reliant Investment Management LLC’s holdings, making the stock its 8th biggest holding. Reliant Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $7,075,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at $29,000. True Wealth Design LLC lifted its position 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 worth $29,000 after purchasing an additional 51 shares during the period. Pineridge Advisors LLC bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $39,000. Cape Investment Advisory Inc. raised its position in shares of Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after buying an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 49.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after acquiring an additional 27 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Barclays decreased their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their target price 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. Five research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $607.06.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded up $2.22 during midday trading on Friday, reaching $553.00. The company had a trading volume of 6,150,885 shares, compared to its average volume of 1,473,906. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company’s 50 day moving average price is $574.84 and its 200 day moving average price is $562.59. The stock has a market cap of $211.09 billion, a P/E ratio of 35.45, a P/E/G ratio of 2.57 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 issued its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 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 value of $5,672,800.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction 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 sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $12,532,780 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.