Cassaday & Co Wealth Management LLC Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cassaday & Co Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 64.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,763 shares of the medical research company's stock after buying an additional 1,477 shares during the quarter. Cassaday & Co Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $30,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $37,000. Smallwood Wealth Investment Management LLC purchased a new position in Thermo Fisher Scientific during the first quarter worth approximately $37,000. Finally, Crowley Wealth Management Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $43,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $9.69 during mid-day trading on Friday, reaching $415.29. 2,647,234 shares of the company were exchanged, compared to its average volume of 2,021,614. The firm has a market cap of $156.77 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The firm's 50-day simple moving average is $410.38 and its two-hundred day simple moving average is $473.00. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company 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%. The firm's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.11 EPS. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced 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. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is 10.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Barclays lowered their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. 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 for the company in a report on Thursday, April 24th. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a report on Friday, July 11th. Argus reduced their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Finally, Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $599.30.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president directly owned 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.