Graypoint LLC Acquires 250 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Graypoint LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,705 shares of the medical research company’s stock after purchasing an additional 250 shares during the quarter. Graypoint LLC’s holdings in Thermo Fisher Scientific were worth $1,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dynasty Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 301.4% in the first quarter. Dynasty Wealth Management LLC now owns 4,444 shares of the medical research company’s stock worth $2,211,000 after acquiring an additional 3,337 shares during the period. Verdence Capital Advisors LLC boosted its holdings in Thermo Fisher Scientific by 12.1% during the 1st quarter. Verdence Capital Advisors LLC now owns 4,233 shares of the medical research company’s stock valued at $2,106,000 after acquiring an additional 456 shares during the period. Napatree Capital LLC lifted its position in Thermo Fisher Scientific by 3.7% in the first quarter. Napatree Capital LLC now owns 3,379 shares of the medical research company’s stock valued at $1,681,000 after purchasing an additional 122 shares during the last quarter. Lineweaver Wealth Advisors LLC raised its holdings in Thermo Fisher Scientific by 2.2% during the 1st quarter. Lineweaver Wealth Advisors LLC now owns 3,263 shares of the medical research company’s stock valued at $1,624,000 after buying an additional 71 shares during the last quarter. Finally, Welch & Forbes LLC increased its position in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Welch & Forbes LLC now owns 91,769 shares of the medical research company’s stock valued at $45,664,000 after acquiring an additional 738 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $425.28 on Friday. The stock has a market capitalization of $160.54 billion, a P/E ratio of 24.94, a P/E/G ratio of 2.21 and a beta of 0.77. The stock has a 50-day moving average price of $410.13 and a 200 day moving average price of $473.73. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $5.11 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.09%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Evercore ISI cut their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 8th. Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $600.30.

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.