FORVIS Wealth Advisors LLC Purchases 760 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

FORVIS Wealth Advisors LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,279 shares of the medical research company’s stock after acquiring an additional 760 shares during the quarter. FORVIS Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $4,231,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. True Wealth Design LLC increased its stake 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 valued at $29,000 after buying an additional 51 shares during the period. Pineridge Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $39,000. Cape Investment Advisory Inc. boosted its holdings in Thermo Fisher Scientific by 52.0% in the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 26 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in Thermo Fisher Scientific by 49.1% in the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after purchasing an additional 27 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on TMO. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Barclays cut their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, April 25th. Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $606.47.

Thermo Fisher Scientific Stock Up 0.3 %

Shares of NYSE:TMO traded up $1.68 during mid-day trading on Thursday, reaching $535.61. 908,266 shares of the stock were exchanged, compared to its average volume of 1,717,972. The stock’s 50 day simple moving average is $573.05 and its 200-day simple moving average is $563.41. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82. The company has a market cap of $204.45 billion, a P/E ratio of 34.36, a P/E/G ratio of 2.49 and a beta of 0.77. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations 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, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s 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 completion of the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock worth $12,532,780. Insiders own 0.34% of the company’s stock.

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.