Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Raised by Smith Salley Wealth Management

Smith Salley Wealth Management lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 14.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,660 shares of the medical research company's stock after buying an additional 6,989 shares during the quarter. Thermo Fisher Scientific makes up about 1.8% of Smith Salley Wealth Management's holdings, making the stock its 14th largest position. Smith Salley Wealth Management's holdings in Thermo Fisher Scientific were worth $27,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Koshinski Asset Management Inc. grew its position in shares of Thermo Fisher Scientific by 16.3% in the first quarter. Koshinski Asset Management Inc. now owns 3,140 shares of the medical research company's stock valued at $1,563,000 after purchasing an additional 440 shares during the last quarter. Nicholson Meyer Capital Management Inc. acquired a new position in shares of Thermo Fisher Scientific in the first quarter worth $234,000. Valley National Advisers Inc. lifted its position in shares of Thermo Fisher Scientific by 4.0% in the first quarter. Valley National Advisers Inc. now owns 3,232 shares of the medical research company's stock valued at $1,607,000 after acquiring an additional 123 shares in the last quarter. LifePlan Financial LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter worth about $352,000. Finally, Ameritas Advisory Services LLC boosted its holdings in shares of Thermo Fisher Scientific by 3.5% during the first quarter. Ameritas Advisory Services LLC now owns 3,796 shares of the medical research company's stock worth $1,903,000 after purchasing an additional 127 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $6.28 during midday trading on Wednesday, hitting $427.75. 2,669,334 shares of the stock traded hands, compared to its average volume of 1,969,701. 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 Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The business's 50 day moving average price is $409.16 and its two-hundred day moving average price is $481.67. The firm has a market capitalization of $161.47 billion, a PE ratio of 25.09, a price-to-earnings-growth ratio of 2.24 and a beta of 0.77.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TMO. Barclays dropped their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI cut their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Scotiabank lowered their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. Finally, Royal Bank Of Canada cut their target price on 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. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $604.05.

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.