Pathway Financial Advisers LLC Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Pathway Financial Advisers LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.3% during the 2nd quarter, Holdings Channel reports. The firm owned 1,450 shares of the medical research company’s stock after purchasing an additional 33 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Thermo Fisher Scientific were worth $783,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Capital World Investors raised its holdings in shares of Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at $705,636,000. Veritas Asset Management LLP boosted its stake in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after purchasing an additional 697,383 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Thermo Fisher Scientific by 6.9% in the fourth quarter. Capital Research Global Investors now owns 7,989,614 shares of the medical research company’s stock worth $4,240,824,000 after buying an additional 517,137 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. 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. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $618.57 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The stock has a market capitalization of $236.29 billion, a price-to-earnings ratio of 39.68, a price-to-earnings-growth ratio of 3.90 and a beta of 0.78. The business has a 50-day moving average of $607.53 and a 200 day moving average of $582.11. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The company had revenue of $10.54 billion for 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 quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the business earned $5.15 EPS. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be given 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 is currently 10.01%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 target price for the company. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $650.41.

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.