Hedeker Wealth LLC Has $2.82 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Hedeker Wealth LLC has reduced its stake in Thermo Fisher Scientific Inc. by 24.9%, now owning 5,658 shares valued at approximately $2.82 million.
• Multiple institutional investors have adjusted their positions in Thermo Fisher, with significant increases in ownership by firms like Cetera Investment Advisers and Davis Rea LTD..
• Thermo Fisher Scientific's quarterly earnings reported $5.36 EPS, outperforming estimates, with revenues of $10.86 billion, indicating a 2.9% year-over-year growth.

Hedeker Wealth LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 24.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,658 shares of the medical research company's stock after selling 1,876 shares during the period. Hedeker Wealth LLC's holdings in Thermo Fisher Scientific were worth $2,815,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in TMO. Assetmark Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.4% during the 1st quarter. Assetmark Inc. now owns 38,063 shares of the medical research company's stock valued at $18,940,000 after acquiring an additional 163 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Thermo Fisher Scientific by 13.3% during the 1st quarter. Cetera Investment Advisers now owns 65,818 shares of the medical research company's stock valued at $32,751,000 after acquiring an additional 7,703 shares in the last quarter. Principle Wealth Partners LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.4% during the 1st quarter. Principle Wealth Partners LLC now owns 3,237 shares of the medical research company's stock valued at $1,611,000 after acquiring an additional 105 shares in the last quarter. Davis Rea LTD. lifted its holdings in Thermo Fisher Scientific by 28.9% in the 1st quarter. Davis Rea LTD. now owns 37,712 shares of the medical research company's stock worth $18,778,000 after buying an additional 8,452 shares in the last quarter. Finally, Lifeworks Advisors LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter worth $225,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value 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 trade represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TMO shares. HSBC reiterated a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. UBS Group upped their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a "neutral" rating in a research note on Thursday. Stifel Nicolaus cut their target price 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. Finally, Evercore ISI cut their target price 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. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $593.00.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $3.58 during trading on Friday, reaching $478.61. The company had a trading volume of 4,191,526 shares, compared to its average volume of 3,108,119. The firm's fifty day moving average is $413.76 and its 200 day moving average is $470.22. The firm has a market capitalization of $180.67 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.47 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.38 and a current ratio of 1.93.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $5.37 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm 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. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is presently 10.09%.

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.