EP Wealth Advisors LLC Acquires 816 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

EP Wealth Advisors LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 14,991 shares of the medical research company’s stock after buying an additional 816 shares during the quarter. EP Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $8,290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Beaumont Financial Advisors LLC grew its holdings in Thermo Fisher Scientific by 0.8% during the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after buying an additional 17 shares in the last quarter. Cedar Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after purchasing an additional 17 shares during the last quarter. Lafayette Investments Inc. boosted its holdings in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after purchasing an additional 17 shares during the last quarter. Patrick M Sweeney & Associates Inc. grew its position in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after purchasing an additional 18 shares in the last quarter. Finally, Drive Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after buying an additional 18 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the sale, the vice president now owns 13,699 shares of the company’s stock, valued at $8,397,760.98. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TMO. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Barclays dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research note on Friday, June 28th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $650.41.

Thermo Fisher Scientific Trading Up 0.7 %

TMO opened at $618.57 on Tuesday. The firm has a market cap of $236.29 billion, a P/E ratio of 39.68, a P/E/G ratio of 3.90 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88. The stock has a 50-day moving average of $607.53 and a 200 day moving average of $582.11. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same period in the prior year, the company posted $5.15 EPS. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

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.