Summit Financial LLC Has $1.50 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summit Financial LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.5% in the fourth quarter, HoldingsChannel reports. The firm owned 2,814 shares of the medical research company’s stock after buying an additional 147 shares during the period. Summit Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,495,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Great Valley Advisor Group Inc. boosted its holdings in Thermo Fisher Scientific by 17.8% in the fourth quarter. Great Valley Advisor Group Inc. now owns 9,696 shares of the medical research company’s stock worth $5,147,000 after acquiring an additional 1,467 shares in the last quarter. Y.D. More Investments Ltd grew its position in Thermo Fisher Scientific by 33.9% in the 4th quarter. Y.D. More Investments Ltd now owns 391 shares of the medical research company’s stock valued at $207,000 after purchasing an additional 99 shares during the period. Iyo Bank Ltd. increased its stake in Thermo Fisher Scientific by 12.4% during the 4th quarter. Iyo Bank Ltd. now owns 9,069 shares of the medical research company’s stock valued at $4,814,000 after purchasing an additional 1,000 shares in the last quarter. ICW Investment Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 5.1% during the fourth quarter. ICW Investment Advisors LLC now owns 912 shares of the medical research company’s stock valued at $484,000 after buying an additional 44 shares during the last quarter. Finally, Phraction Management LLC raised its holdings in shares of Thermo Fisher Scientific by 32.8% in the 4th quarter. Phraction Management LLC now owns 27,463 shares of the medical research company’s stock worth $14,577,000 after acquiring an additional 6,784 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TMO shares. Evercore ISI increased their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Citigroup initiated coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective on the stock. Barclays increased their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. HSBC boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $607.35.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,277 shares of company stock worth $35,373,364. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $8.00 during trading on Thursday, hitting $566.99. 142,157 shares of the company’s stock traded hands, compared to its average volume of 1,531,943. The stock has a market capitalization of $216.43 billion, a price-to-earnings ratio of 36.89, a PEG ratio of 2.36 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The business has a 50 day moving average of $575.03 and a 200-day moving average of $531.97. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Thermo Fisher Scientific 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.