Elevation Point Wealth Partners LLC Purchases 1,478 Shares of Thermo Fisher Scientific Inc. $TMO

Elevation Point Wealth Partners LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 103.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,906 shares of the medical research company’s stock after purchasing an additional 1,478 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Highline Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after buying an additional 33 shares during the period. Capital A Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $31,000. Howard Hughes Medical Institute purchased a new position in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Finally, Elevation Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $471.12 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm has a market cap of $175.01 billion, a P/E ratio of 26.56, a P/E/G ratio of 2.68 and a beta of 0.96. The firm’s fifty day moving average is $555.03 and its 200 day moving average is $548.87. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.10 earnings per share. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore reissued an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a research note on Sunday, December 7th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $633.68.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the sale, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.