Legacy Capital Wealth Partners LLC Takes $986,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Legacy Capital Wealth Partners LLC acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 2nd quarter, HoldingsChannel reports. The fund acquired 1,783 shares of the medical research company’s stock, valued at approximately $986,000.

A number of other institutional investors have also recently made changes to their positions in TMO. Summa Corp. bought a new position in Thermo Fisher Scientific during the fourth quarter worth $418,000. Private Wealth Management Group LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $110,000. Brookstone Capital Management grew its stake in Thermo Fisher Scientific by 252.4% during the first quarter. Brookstone Capital Management now owns 4,387 shares of the medical research company’s stock worth $2,550,000 after purchasing an additional 3,142 shares during the period. Artisan Partners Limited Partnership bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $40,335,000. Finally, Leo Wealth LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $1,117,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $1,201,700.00. Following the completion of the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,860,920.55. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,860,920.55. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock valued at $14,094,292 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on TMO shares. Royal Bank of Canada increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Barclays dropped their price objective on shares of 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. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $630.41.

Thermo Fisher Scientific Stock Performance

TMO stock traded down $2.18 during mid-day trading on Tuesday, hitting $612.89. The company had a trading volume of 105,396 shares, compared to its average volume of 1,499,482. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30. The stock’s fifty day moving average price is $579.69 and its two-hundred day moving average price is $576.69. The firm has a market cap of $234.12 billion, a PE ratio of 39.45, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter last year, the company earned $5.15 earnings per share. The company’s revenue was down 1.4% on a year-over-year basis. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

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.