Provence Wealth Management Group Has $402,000 Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Provence Wealth Management Group grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2,197.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 758 shares of the medical research company’s stock after purchasing an additional 725 shares during the quarter. Provence Wealth Management Group’s holdings in Thermo Fisher Scientific were worth $402,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TMO. Legacy Financial Advisors Inc. increased its position in shares of Thermo Fisher Scientific by 30.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,851 shares of the medical research company’s stock valued at $983,000 after buying an additional 433 shares in the last quarter. Sapient Capital LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $680,000. Axxcess Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 6.9% during the 4th quarter. Axxcess Wealth Management LLC now owns 23,333 shares of the medical research company’s stock worth $12,385,000 after purchasing an additional 1,506 shares in the last quarter. Power Wealth Management LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $1,392,000. Finally, Malaga Cove Capital LLC raised its position in shares of Thermo Fisher Scientific by 37.8% in the fourth quarter. Malaga Cove Capital LLC now owns 1,091 shares of the medical research company’s stock valued at $579,000 after purchasing an additional 299 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on TMO shares. Barclays upped their price target on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Citigroup started coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective for the company. The Goldman Sachs Group raised their price target on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Royal Bank of Canada increased their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Raymond James boosted their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $607.35.

Thermo Fisher Scientific Stock Up 0.2 %

Shares of NYSE:TMO traded up $1.13 during trading on Friday, hitting $572.38. The stock had a trading volume of 1,749,670 shares, compared to its average volume of 1,409,187. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a market capitalization of $218.48 billion, a PE ratio of 36.71, a PEG ratio of 2.37 and a beta of 0.80. The firm’s fifty day moving average is $575.39 and its 200 day moving average is $532.82. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The company had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.01%.

Insider Activity

In other news, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,277 shares of company stock valued at $35,373,364. Corporate insiders own 0.34% of the company’s stock.

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.