Apollon Wealth Management LLC Purchases 5,997 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Apollon Wealth Management LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 46.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,896 shares of the medical research company's stock after purchasing an additional 5,997 shares during the quarter. Apollon Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $9,403,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sigma Planning Corp boosted its stake in Thermo Fisher Scientific by 4.4% during the 1st quarter. Sigma Planning Corp now owns 3,989 shares of the medical research company's stock valued at $1,985,000 after purchasing an additional 169 shares in the last quarter. Catalyst Financial Partners LLC lifted its holdings in Thermo Fisher Scientific by 3.9% in the 1st quarter. Catalyst Financial Partners LLC now owns 1,922 shares of the medical research company's stock valued at $956,000 after acquiring an additional 72 shares during the last quarter. Evergreen Private Wealth LLC grew its stake in shares of Thermo Fisher Scientific by 4.5% in the 1st quarter. Evergreen Private Wealth LLC now owns 11,058 shares of the medical research company's stock worth $5,502,000 after purchasing an additional 477 shares during the last quarter. Signaturefd LLC lifted its stake in Thermo Fisher Scientific by 1.0% during the first quarter. Signaturefd LLC now owns 8,167 shares of the medical research company's stock valued at $4,064,000 after purchasing an additional 83 shares during the last quarter. Finally, Leelyn Smith LLC boosted its holdings in Thermo Fisher Scientific by 5.5% during the first quarter. Leelyn Smith LLC now owns 7,605 shares of the medical research company's stock worth $3,784,000 after buying an additional 397 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the business'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 owned 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $9.42 during trading hours on Monday, reaching $425.44. 2,819,329 shares of the company traded hands, compared to its average volume of 2,412,383. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The stock has a market cap of $160.60 billion, a P/E ratio of 24.95, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The stock's fifty day moving average is $409.39 and its 200 day moving average is $475.87. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data 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 analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.11 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is 10.09%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a report on Friday. Robert W. Baird decreased 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 report on Thursday, April 24th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Barclays reduced their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $600.30.

Thermo Fisher Scientific 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.