Phraction Management LLC Purchases 2,037 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

by · The Cerbat Gem

Phraction Management LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,164 shares of the medical research company’s stock after purchasing an additional 2,037 shares during the period. Thermo Fisher Scientific accounts for about 5.0% of Phraction Management LLC’s holdings, making the stock its 4th biggest holding. Phraction Management LLC’s holdings in Thermo Fisher Scientific were worth $15,010,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of TMO. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $25,000. Pillar Financial Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $29,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. Cassady Schiller Wealth Management LLC boosted its position in shares of Thermo Fisher Scientific by 89.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company’s stock worth $36,000 after purchasing an additional 33 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $36,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TMO has been the subject of several research analyst reports. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. UBS Group cut their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $604.05.

Check Out Our Latest Analysis on Thermo Fisher Scientific

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company’s stock, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $421.35 on Wednesday. The firm has a market capitalization of $159.06 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The business’s fifty day moving average price is $409.16 and its 200 day moving average price is $481.67. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.11 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Thermo Fisher Scientific Profile

(Free Report)

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.

Featured Articles