New World Advisors LLC Purchases 157 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

by · The Markets Daily

New World Advisors LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 13.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,353 shares of the medical research company’s stock after buying an additional 157 shares during the period. Thermo Fisher Scientific comprises 0.2% of New World Advisors LLC’s investment portfolio, making the stock its 25th largest position. New World Advisors LLC’s holdings in Thermo Fisher Scientific were worth $673,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of TMO. Bernard Wealth Management Corp. purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $25,000. Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $29,000. Ameriflex Group Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $30,000. Noble Wealth Management PBC purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $35,000. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 89.2% in the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company’s stock valued at $36,000 after acquiring an additional 33 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.5%

NYSE TMO opened at $410.45 on Thursday. The firm has a market capitalization of $154.94 billion, a PE ratio of 24.07, a P/E/G ratio of 2.13 and a beta of 0.78. The stock’s 50 day moving average is $410.39 and its 200 day moving average is $485.33. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific’s payout ratio is 10.09%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of 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. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Scotiabank dropped their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a report on Friday, April 25th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $604.05.

Get Our Latest Report on TMO

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president now owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Company 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.

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