Cobblestone Capital Advisors LLC NY raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 208.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,105 shares of the medical research company's stock after purchasing an additional 1,422 shares during the period. Cobblestone Capital Advisors LLC NY's holdings in Thermo Fisher Scientific were worth $1,047,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. IMA Advisory Services Inc. purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $35,000. Navigoe LLC purchased a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $37,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Stock Performance
Shares of Thermo Fisher Scientific stock traded up $8.31 on Wednesday, reaching $485.72. The stock had a trading volume of 2,054,775 shares, compared to its average volume of 3,131,656. The business's 50-day moving average price is $429.68 and its two-hundred day moving average price is $461.95. 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 Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The stock has a market cap of $183.41 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.55 and a beta of 0.74.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (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 analysts' expectations of $10.68 billion. During the same quarter in the prior year, the company posted $5.37 EPS. The business's revenue was up 2.9% on a year-over-year basis. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS 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. 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 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.95%.
Wall Street Analysts Forecast Growth
TMO has been the subject of several recent analyst reports. Wall Street Zen cut shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research report on Sunday. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target for the company in a report on Friday, July 11th. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Barclays increased their price target on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a report on Thursday, July 24th. Finally, Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Seven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $593.00.
Read Our Latest Report on TMO
Insider Buying and Selling at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction dated 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 owned 22,367 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the transaction, the chief executive officer directly owned 115,174 shares of the company's stock, valued at approximately $52,037,916.68. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,400 shares of company stock valued at $8,345,792 over the last three months. 0.33% of the stock is owned by company insiders.
About Thermo Fisher Scientific
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Free Report)
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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