Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,983 shares of the medical research company’s stock after selling 120 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Thermo Fisher Scientific were worth $1,650,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of TMO. MUFG Securities EMEA plc acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $50,876,000. Sage Mountain Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 30.8% during the second quarter. Sage Mountain Advisors LLC now owns 1,894 shares of the medical research company’s stock valued at $1,047,000 after acquiring an additional 446 shares during the last quarter. Anfield Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at approximately $61,000. Catalytic Wealth RIA LLC raised its holdings in shares of Thermo Fisher Scientific by 14.6% during the second quarter. Catalytic Wealth RIA LLC now owns 4,242 shares of the medical research company’s stock valued at $2,346,000 after acquiring an additional 539 shares during the last quarter. Finally, Ingalls & Snyder LLC raised its holdings in shares of Thermo Fisher Scientific by 2.7% during the second quarter. Ingalls & Snyder LLC now owns 1,200 shares of the medical research company’s stock valued at $664,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction 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 sale, the chief accounting officer now owns 1,814 shares in the company, valued at $1,108,408.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,084 shares of company stock worth $19,767,092. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.6 %

Shares of TMO traded up $3.39 during midday trading on Friday, hitting $615.07. 1,058,979 shares of the stock were exchanged, compared to its average volume of 1,507,778. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $622.30. The stock has a fifty day simple moving average of $578.71 and a 200 day simple moving average of $575.77. The firm has a market cap of $234.96 billion, a P/E ratio of 39.45, a P/E/G ratio of 2.82 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Stifel Nicolaus increased their target price on Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird upped their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Evercore ISI dropped their price target on 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, Barclays dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $630.41.

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.