Miracle Mile Advisors LLC Acquires 320 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Miracle Mile Advisors LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,760 shares of the medical research company’s stock after purchasing an additional 320 shares during the period. Miracle Mile Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,185,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. True Wealth Design LLC raised its position in shares of 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. LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $31,000. Headlands Technologies LLC bought a new position in Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $33,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. 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. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $0.29 during trading hours on Friday, hitting $603.98. 1,076,197 shares of the stock were exchanged, compared to its average volume of 1,714,754. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm 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. The company has a 50-day simple moving average of $570.86 and a two-hundred day simple moving average of $571.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. During the same period last year, the firm earned $5.15 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Barclays lowered their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group restated a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, HSBC boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $618.94.

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.