Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Decreased by Aveo Capital Partners LLC

Key Points

• Aveo Capital Partners LLC significantly reduced its stake in Thermo Fisher Scientific by 46.8%, now holding 655 shares worth approximately $326,000.
• Multiple hedge funds increased their positions in Thermo Fisher, with GAMMA Investing LLC making the most substantial addition of over 60,000% to its stake, bringing its total to around $1.2 billion.
• Thermo Fisher's stock has seen analysts set a consensus target price of $593.00, with a current stock price opening at $461.34 and previous dividend announcements signaling a yield of 0.4%.

Aveo Capital Partners LLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 46.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 655 shares of the medical research company's stock after selling 576 shares during the quarter. Aveo Capital Partners LLC's holdings in Thermo Fisher Scientific were worth $326,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $30,000. IMA Advisory Services Inc. acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $35,000. Navigoe LLC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

TMO stock traded up $4.38 during trading on Friday, hitting $489.42. The stock had a trading volume of 991,898 shares, compared to its average volume of 2,488,573. The company's 50 day moving average price is $433.08 and its two-hundred day moving average price is $461.44. 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 $184.81 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93.

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

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.95%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the transaction, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 8,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $454.45, for a total value of $3,635,600.00. Following the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,340,824.30. This represents a 6.49% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,400 shares of company stock worth $8,345,792 over the last ninety days. 0.33% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TMO. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada cut their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Raymond James Financial reissued an "outperform" rating and set a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Finally, Hsbc Global Res cut shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.