Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases 1,132 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Empirical Wealth Management increased its holdings in Thermo Fisher Scientific Inc. by 26.8%, acquiring an additional 1,132 shares during the first quarter, bringing their total to 5,360 shares valued at $2,667,000.
• Multiple institutional investors are actively adjusting their positions in Thermo Fisher, with significant changes including a new acquisition by Cypress Advisory Group valued at $253,000 and increased stakes by GAMMA Investing and Deutsche Bank.
• Analysts have provided varied ratings and price targets for Thermo Fisher Scientific, with consensus indicating a moderate buy rating and an average target price of $593.00, amid mixed recommendations from firms like Stifel Nicolaus and Evercore ISI.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,360 shares of the medical research company's stock after acquiring an additional 1,132 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Thermo Fisher Scientific were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cypress Advisory Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $253,000. GAMMA Investing LLC increased its stake in Thermo Fisher Scientific by 22.0% in the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after purchasing an additional 877 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Thermo Fisher Scientific by 9.5% during the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after purchasing an additional 114,277 shares during the period. Hancock Whitney Corp grew its stake in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after buying an additional 30 shares during the period. Finally, Cetera Trust Company N.A increased its position in Thermo Fisher Scientific by 3.3% in the 1st quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after buying an additional 150 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Hsbc Global Res lowered shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 24th. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, UBS Group raised their price target on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific 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 transaction, the executive vice president owned 22,367 shares in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Price Performance

TMO opened at $467.56 on Friday. The firm has a market cap of $176.50 billion, a P/E ratio of 27.04, a PEG ratio of 2.55 and a beta of 0.77. 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 firm has a 50-day moving average of $419.50 and a 200 day moving average of $468.31.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter in the previous year, the firm posted $5.37 EPS. Thermo Fisher Scientific's revenue was up 2.9% on a year-over-year basis. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. 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 is 9.95%.

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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