Cary Street Partners Financial LLC Has $16.52 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Cary Street Partners Financial LLC increased its holdings in Thermo Fisher Scientific by 3.7%, owning 33,200 shares worth approximately $16.52 million as of the latest SEC filings.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Thermo Fisher Scientific with an average price target of $593.00, reflecting a positive outlook for the company.
• Thermo Fisher Scientific recently reported earnings of $5.36 per share, exceeding analyst estimates, and announced a quarterly dividend of $0.43 per share, payable on October 15th.

Cary Street Partners Financial LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,200 shares of the medical research company's stock after buying an additional 1,179 shares during the period. Cary Street Partners Financial LLC's holdings in Thermo Fisher Scientific were worth $16,520,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital World Investors boosted its position in shares of Thermo Fisher Scientific by 1.1% during the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after purchasing an additional 1,433,444 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of Thermo Fisher Scientific by 7.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock valued at $1,432,816,000 after purchasing an additional 193,378 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Thermo Fisher Scientific by 11.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,420,949 shares of the medical research company's stock worth $1,259,450,000 after buying an additional 257,462 shares during the period. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $6.15 during midday trading on Thursday, hitting $455.09. 1,490,140 shares of the stock traded hands, compared to its average volume of 3,299,804. The business's 50 day moving average price is $425.62 and its two-hundred day moving average price is $464.94. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The firm has a market capitalization of $171.85 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 2.40 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 announced its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The firm had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the previous year, the company earned $5.37 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock valued at $8,345,792 in the last ninety days. Company insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada dropped their price target on 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. HSBC reaffirmed a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Finally, Robert W. Baird increased their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Company 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.