Independent Solutions Wealth Management LLC Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Independent Solutions Wealth Management LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 649 shares of the medical research company’s stock after selling 34 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $323,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Spire Wealth Management lifted its stake in Thermo Fisher Scientific by 24.5% during the first quarter. Spire Wealth Management now owns 1,929 shares of the medical research company’s stock worth $960,000 after purchasing an additional 379 shares during the last quarter. Valicenti Advisory Services Inc. lifted its stake in Thermo Fisher Scientific by 3.4% during the first quarter. Valicenti Advisory Services Inc. now owns 10,118 shares of the medical research company’s stock worth $5,035,000 after purchasing an additional 332 shares during the last quarter. Riverbend Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 11.4% during the first quarter. Riverbend Wealth Management LLC now owns 667 shares of the medical research company’s stock worth $332,000 after purchasing an additional 68 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in Thermo Fisher Scientific during the first quarter worth approximately $251,000. Finally, Mill Capital Management LLC lifted its stake in Thermo Fisher Scientific by 0.3% during the first quarter. Mill Capital Management LLC now owns 79,029 shares of the medical research company’s stock worth $39,325,000 after purchasing an additional 251 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.5%

Shares of TMO stock opened at $410.45 on Thursday. The business’s fifty day moving average price is $410.39 and its 200 day moving average price is $485.33. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The firm has a market capitalization of $154.94 billion, a PE ratio of 24.07, a P/E/G ratio of 2.13 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the prior year, the company posted $5.11 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Royal Bank Of Canada reduced their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Citigroup reduced their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Barclays reduced their price objective on Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $604.05.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

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.