Granite Bay Wealth Management LLC Purchases 2,677 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Granite Bay Wealth Management LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 55.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the medical research company’s stock after purchasing an additional 2,677 shares during the quarter. Granite Bay Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $4,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in TMO. Advisory Alpha LLC grew its position in shares of Thermo Fisher Scientific by 34.7% during the 2nd quarter. Advisory Alpha LLC now owns 1,049 shares of the medical research company’s stock worth $580,000 after buying an additional 270 shares during the period. Pathway Financial Advisers LLC grew its holdings in Thermo Fisher Scientific by 2.3% in the second quarter. Pathway Financial Advisers LLC now owns 1,450 shares of the medical research company’s stock worth $783,000 after purchasing an additional 33 shares during the period. HWG Holdings LP bought a new stake in Thermo Fisher Scientific in the second quarter valued at $50,000. EP Wealth Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 5.8% during the 2nd quarter. EP Wealth Advisors LLC now owns 14,991 shares of the medical research company’s stock worth $8,290,000 after purchasing an additional 816 shares in the last quarter. Finally, Brown Shipley& Co Ltd increased its position in Thermo Fisher Scientific by 2.7% in the 2nd quarter. Brown Shipley& Co Ltd now owns 16,450 shares of the medical research company’s stock valued at $9,097,000 after buying an additional 425 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TMO. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Stifel Nicolaus lifted their price target on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $650.41.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the transaction, the chief accounting officer now owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 6,300 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $602.09, for a total transaction of $3,793,167.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $74,548,375.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.7 %

TMO stock opened at $618.57 on Tuesday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The stock 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. The stock’s fifty day simple moving average is $607.53 and its two-hundred day simple moving average is $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 results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.15 earnings per share. Analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company 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. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.25%. Thermo Fisher Scientific’s payout ratio is 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.