Wedbush Securities Inc. Purchases 34 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Wedbush Securities Inc. raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,302 shares of the medical research company’s stock after purchasing an additional 34 shares during the period. Wedbush Securities Inc.’s holdings in Thermo Fisher Scientific were worth $2,379,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TMO. Signature Resources Capital Management LLC lifted its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. True Wealth Design LLC lifted its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after buying an additional 51 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $29,000. Stephens Consulting LLC raised its stake in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Finally, LifeSteps Financial Inc. purchased a new stake in shares of Thermo Fisher Scientific in the first quarter worth about $31,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following 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 sold 23,084 shares of company stock valued at $14,094,292 over the last 90 days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.5 %

NYSE:TMO opened at $620.42 on Tuesday. The firm has a market cap of $237.00 billion, a P/E ratio of 39.80, a P/E/G ratio of 2.84 and a beta of 0.78. The firm has a 50-day simple moving average of $585.64 and a 200-day simple moving average of $578.80. 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 Inc. has a one year low of $415.60 and a one year high of $622.30.

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

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders 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 dividend yield of 0.25%. The ex-dividend date of this dividend is Friday, September 13th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Wells Fargo & Company assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price for the company. TD Cowen increased their price target on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Royal Bank of Canada boosted their price objective on shares of 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 lowered 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 report on Tuesday, July 2nd. Finally, Barclays cut their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.