Connecticut Wealth Management LLC Boosts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Connecticut Wealth Management LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,066 shares of the medical research company’s stock after purchasing an additional 155 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $2,635,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Headinvest LLC increased its holdings in shares of Thermo Fisher Scientific by 22.9% in the 4th quarter. Headinvest LLC now owns 1,333 shares of the medical research company’s stock worth $693,000 after buying an additional 248 shares during the last quarter. City National Bank of Florida MSD bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $355,000. Inspire Trust Co. N.A. grew its holdings in shares of Thermo Fisher Scientific by 56.3% during the 4th quarter. Inspire Trust Co. N.A. now owns 4,900 shares of the medical research company’s stock valued at $2,549,000 after purchasing an additional 1,765 shares during the last quarter. Monograph Wealth Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company’s stock valued at $4,507,000 after purchasing an additional 23 shares during the last quarter. Finally, Novem Group bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $296,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at $59,506,950.58. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,075 shares of company stock worth $7,305,942. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $397.89 on Thursday. The company has a 50 day moving average price of $447.48 and a 200-day moving average price of $507.46. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The firm has a market capitalization of $150.20 billion, a PE ratio of 24.07, a P/E/G ratio of 2.99 and a beta of 0.82. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the previous year, the business posted $5.11 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TMO shares. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Raymond James reissued an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Scotiabank dropped their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a research report on Friday, April 25th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Royal Bank of Canada dropped their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $607.43.

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.