Marietta Wealth Management LLC Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Marietta Wealth Management LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,392 shares of the medical research company's stock after buying an additional 1,365 shares during the quarter. Marietta Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $7,659,000 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. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $25,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $35,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TMO. Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus decreased their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Royal Bank Of Canada decreased their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $4.75 on Friday, hitting $397.31. 3,760,318 shares of the stock traded hands, compared to its average volume of 1,942,727. The business's fifty day moving average is $412.62 and its two-hundred day moving average is $487.56. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88. The firm has a market capitalization of $149.98 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.10 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the company earned $5.11 earnings per share. Thermo Fisher Scientific's revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Thermo Fisher Scientific Company 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.