Accredited Wealth Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,409 shares of the medical research company's stock, valued at approximately $1,254,000. Thermo Fisher Scientific makes up 1.1% of Accredited Wealth Management LLC's investment portfolio, making the stock its 23rd biggest holding.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock valued at $771,876,000 after buying an additional 225,568 shares during the period. Virtu Financial LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth $638,000. Franklin Resources Inc. boosted its stake in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the period. Everence Capital Management Inc. grew its holdings in Thermo Fisher Scientific by 4.1% during the 4th quarter. Everence Capital Management Inc. now owns 18,519 shares of the medical research company's stock valued at $9,634,000 after purchasing an additional 730 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock worth $28,868,000 after buying an additional 10,606 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Argus lowered their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. StockNews.com downgraded Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Friday, April 25th. Finally, Raymond James reaffirmed an "outperform" rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $607.43.
Read Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Price Performance
NYSE:TMO traded down $1.17 during mid-day trading on Monday, reaching $422.38. The stock had a trading volume of 2,637,228 shares, compared to its average volume of 1,772,793. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a one year low of $409.85 and a one year high of $627.88. The firm has a 50 day moving average price of $473.94 and a two-hundred day moving average price of $519.36. The stock has a market capitalization of $159.44 billion, a P/E ratio of 25.55, a P/E/G ratio of 2.99 and a beta of 0.86.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) 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. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the previous year, the business earned $5.11 EPS. Thermo Fisher Scientific's revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.
Insiders Place Their Bets
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 value of $128,979.00. Following the transaction, the executive vice president now directly owns 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 is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,200 shares of company stock valued at $13,235,041. 0.33% of the stock is currently owned by corporate insiders.
Thermo Fisher Scientific Company Profile
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Free Report)
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.
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