Avantax Advisory Services Inc. Has $18.31 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Avantax Advisory Services Inc. reduced its holdings in Thermo Fisher Scientific by 1.7%, now owning 36,793 shares worth approximately $18.31 million.
• Thermo Fisher Scientific recently announced a quarterly dividend of $0.43 per share, with a payout ratio of 10.09%.
• Analysts have mixed ratings on Thermo Fisher, with price targets ranging from $470.00 to $610.00, reflecting varied confidence in the company's future performance.

Avantax Advisory Services Inc. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,793 shares of the medical research company's stock after selling 621 shares during the period. Avantax Advisory Services Inc.'s holdings in Thermo Fisher Scientific were worth $18,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $30,000. IMA Advisory Services Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $35,000. Navigoe LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $37,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president directly owned 23,167 shares of the company's stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Up 0.8%

Shares of TMO opened at $478.61 on Friday. The firm has a market cap of $180.67 billion, a P/E ratio of 27.68, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.38 and a current ratio of 1.93. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The firm's 50-day simple moving average is $413.76 and its 200 day simple moving average is $470.22.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business's revenue was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.37 EPS. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group boosted their price target on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a report on Thursday. Argus lowered their price target 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. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. 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, Raymond James Financial reiterated an "outperform" rating and issued a $535.00 price target (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $593.00.

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.

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