Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Boosted by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Thermo Fisher Scientific by 116.2%, acquiring an additional 15,134 shares, bringing its total holdings to 28,161 shares valued at approximately $14 million.
• Thermo Fisher Scientific reported a quarterly EPS of $5.36, surpassing analyst expectations, with revenue of $10.86 billion, indicating a 2.9% increase from the previous year.
• The company declared a quarterly dividend of $0.43 per share, which will be paid on October 15, representing an annualized yield of 0.36%.

HB Wealth Management LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 116.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,161 shares of the medical research company's stock after buying an additional 15,134 shares during the period. HB Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $14,013,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of TMO. Brighton Jones LLC boosted its position in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after acquiring an additional 20 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock worth $79,677,000 after acquiring an additional 461 shares during the last quarter. Providence Capital Advisors LLC grew its position in shares of Thermo Fisher Scientific by 1.0% during the fourth quarter. Providence Capital Advisors LLC now owns 13,886 shares of the medical research company's stock worth $7,224,000 after acquiring an additional 134 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $48,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president directly 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 Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 0.2%

NYSE TMO traded down $1.10 on Wednesday, reaching $481.06. The company had a trading volume of 824,108 shares, compared to its average volume of 2,511,304. The firm has a 50-day moving average of $416.56 and a 200-day moving average of $468.86. The firm has a market capitalization of $181.60 billion, a PE ratio of 27.81, a P/E/G ratio of 2.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

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 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.37 EPS. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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. This represents a $1.72 annualized dividend and a yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

Analyst Upgrades and Downgrades

TMO has been the subject of several recent research reports. UBS Group increased their price target on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Evercore ISI cut their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Royal Bank Of Canada cut their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $593.00.

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.