Olde Wealth Management LLC Invests $768,000 in Thermo Fisher Scientific Inc. $TMO

Olde Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,583 shares of the medical research company’s stock, valued at approximately $768,000.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. NorthRock Partners LLC boosted its holdings in Thermo Fisher Scientific by 50.2% in the 3rd quarter. NorthRock Partners LLC now owns 6,227 shares of the medical research company’s stock valued at $3,020,000 after purchasing an additional 2,080 shares in the last quarter. Arrowpoint Investment Partners Singapore Pte. Ltd. purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $733,000. Onex Canada Asset Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. Onex Canada Asset Management Inc. now owns 12,547 shares of the medical research company’s stock valued at $6,086,000 after buying an additional 97 shares during the period. Main Street Research LLC boosted its stake in shares of Thermo Fisher Scientific by 8.5% in the third quarter. Main Street Research LLC now owns 996 shares of the medical research company’s stock valued at $483,000 after buying an additional 78 shares in the last quarter. Finally, Nicolet Advisory Services LLC raised its position in Thermo Fisher Scientific by 6.9% in the third quarter. Nicolet Advisory Services LLC now owns 2,569 shares of the medical research company’s stock worth $1,246,000 after acquiring an additional 166 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have commented on TMO. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. TD Cowen cut their price target on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday, January 30th. Evercore reissued an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Finally, Barclays lifted their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $463.99 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $172.36 billion, a P/E ratio of 26.15, a price-to-earnings-growth ratio of 2.75 and a beta of 0.96. The firm has a 50-day moving average price of $557.83 and a two-hundred day moving average price of $548.17. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is presently 9.70%.

Thermo Fisher Scientific 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.