Wealth Enhancement Advisory Services LLC Makes New $1.77 Million Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wealth Enhancement Advisory Services LLC bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,113 shares of the medical research company’s stock, valued at approximately $1,766,000.

A number of other institutional investors also recently added to or reduced their stakes in TMO. Truvestments Capital LLC purchased a new position in shares of Thermo Fisher Scientific in the first quarter worth $29,000. Capital Advisors Ltd. LLC raised its stake in shares of Thermo Fisher Scientific by 250.0% in the second quarter. Capital Advisors Ltd. LLC now owns 140 shares of the medical research company’s stock worth $41,000 after purchasing an additional 100 shares during the last quarter. Focused Wealth Management Inc purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $44,000. Cullen Frost Bankers Inc. purchased a new position in shares of Thermo Fisher Scientific in the first quarter worth $64,000. Finally, Bay Harbor Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 183.8% in the second quarter. Bay Harbor Wealth Management LLC now owns 227 shares of the medical research company’s stock worth $67,000 after purchasing an additional 147 shares during the last quarter. 88.21% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific stock traded up $3.50 during mid-day trading on Thursday, reaching $272.98. 65,669 shares of the stock traded hands, compared to its average volume of 1,592,969. The firm has a market capitalization of $108.93 billion, a PE ratio of 24.60, a PEG ratio of 1.78 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Thermo Fisher Scientific Inc. has a 12-month low of $208.34 and a 12-month high of $305.45. The firm’s 50-day simple moving average is $287.70.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.03. The business had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $6.31 billion. Thermo Fisher Scientific had a return on equity of 17.11% and a net margin of 14.24%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.75 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 12.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, September 17th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Monday, September 16th. Thermo Fisher Scientific’s payout ratio is 6.83%.

A number of analysts recently commented on TMO shares. Credit Suisse Group reiterated a “buy” rating and set a $310.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, July 31st. Barclays set a $330.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Monday, July 15th. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price objective for the company in a research report on Wednesday, June 12th. Wolfe Research started coverage on Thermo Fisher Scientific in a research report on Thursday, May 30th. They set an “outperform” rating for the company. Finally, BTIG Research upped their price objective on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Thermo Fisher Scientific has an average rating of “Buy” and a consensus price target of $303.17.

In other Thermo Fisher Scientific news, Director C Martin Harris sold 275 shares of the company’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total value of $74,450.75. Following the completion of the sale, the director now owns 6,433 shares in the company, valued at $1,741,606.09. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 50,000 shares of the company’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $284.83, for a total value of $14,241,500.00. Following the completion of the sale, the chief executive officer now owns 342,193 shares of the company’s stock, valued at approximately $97,466,832.19. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,775 shares of company stock valued at $14,986,676. Company insiders own 0.45% of the company’s stock.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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