HighTower Advisors LLC Purchases 1,714 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• HighTower Advisors LLC increased its stake in Thermo Fisher Scientific by 1.0%, acquiring an additional 1,714 shares, bringing its total holdings to 179,384 shares valued at approximately $89.26 million.
• CEO Marc N. Casper sold 10,000 shares worth $4.52 million, reducing his ownership by 7.99%, while insider sales totaled 18,400 shares valued at $8.35 million over the last quarter.
• Thermo Fisher's stock recently opened at $477.92 with a market cap of $180.47 billion, and the company reported earnings of $5.36 per share, exceeding estimates.

HighTower Advisors LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 179,384 shares of the medical research company's stock after acquiring an additional 1,714 shares during the quarter. HighTower Advisors LLC's holdings in Thermo Fisher Scientific were worth $89,261,000 as of its most recent filing with the SEC.

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

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction that occurred 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,037,916.68. This represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock worth $8,345,792 in the last quarter. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Trading Up 0.2%

NYSE TMO traded up $0.83 on Thursday, hitting $485.62. 1,955,228 shares of the company were exchanged, compared to its average volume of 3,096,282. The firm has a market capitalization of $183.38 billion, a P/E ratio of 28.09, a price-to-earnings-growth ratio of 2.59 and a beta of 0.74. 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 current ratio of 1.93 and a quick ratio of 1.50. The company's 50 day moving average price is $433.08 and its 200-day moving average price is $461.44.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is currently 9.95%.

Analyst Ratings Changes

TMO has been the subject of several research analyst reports. Barclays upped their price objective 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. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. Argus dropped their price target on shares of 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. Raymond James Financial reiterated an "outperform" rating and issued a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Finally, Royal Bank Of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target 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.