ZWJ Investment Counsel Inc. Invests $7.23 Million in Thermo Fisher Scientific Inc (NYSE:TMO)

ZWJ Investment Counsel Inc. bought a new stake in Thermo Fisher Scientific Inc (NYSE:TMO) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 47,080 shares of the medical research company’s stock, valued at approximately $7,231,000.

Several other hedge funds have also recently added to or reduced their stakes in TMO. Burns J W & Co. Inc. NY boosted its stake in Thermo Fisher Scientific by 0.3% in the first quarter. Burns J W & Co. Inc. NY now owns 15,287 shares of the medical research company’s stock valued at $2,348,000 after buying an additional 50 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Thermo Fisher Scientific by 1.8% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 338,114 shares of the medical research company’s stock valued at $51,935,000 after buying an additional 5,944 shares during the period. Bridges Investment Management Inc. boosted its stake in shares of Thermo Fisher Scientific by 42.8% in the first quarter. Bridges Investment Management Inc. now owns 15,355 shares of the medical research company’s stock valued at $2,359,000 after buying an additional 4,600 shares during the period. Moreno Evelyn V boosted its stake in shares of Thermo Fisher Scientific by 11.8% in the first quarter. Moreno Evelyn V now owns 1,652 shares of the medical research company’s stock valued at $254,000 after buying an additional 175 shares during the period. Finally, Rosenbaum Jay D. boosted its stake in shares of Thermo Fisher Scientific by 3.4% in the first quarter. Rosenbaum Jay D. now owns 4,900 shares of the medical research company’s stock valued at $753,000 after buying an additional 160 shares during the period. Institutional investors own 87.15% of the company’s stock.

Thermo Fisher Scientific Inc (NYSE TMO) opened at 173.23 on Friday. The stock’s 50 day moving average is $176.78 and its 200 day moving average is $165.46. The company has a market cap of $67.58 billion, a price-to-earnings ratio of 30.18 and a beta of 1.06. Thermo Fisher Scientific Inc has a 52-week low of $139.07 and a 52-week high of $182.87.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 26th. The medical research company reported $2.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.92 billion. During the same period in the prior year, the company posted $2.03 earnings per share. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts predict that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.

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Several equities analysts have weighed in on the stock. Deutsche Bank AG raised their target price on shares of Thermo Fisher Scientific from $163.00 to $188.00 and gave the company a “buy” rating in a report on Friday, April 28th. BTIG Research lifted their price target on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Barclays PLC set a $175.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 26th. Leerink Swann set a $187.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Thursday, April 27th. Finally, Bank of America Corporation raised their target price on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a research report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Thermo Fisher Scientific has a consensus rating of “Buy” and an average target price of $188.56.

In other news, insider Daniel P. Shine sold 4,688 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total value of $805,773.44. Following the completion of the sale, the insider now directly owns 29,200 shares in the company, valued at $5,018,896. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total value of $3,455,800.00. Following the completion of the sale, the chief executive officer now owns 269,279 shares of the company’s stock, valued at $46,528,718.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,188 shares of company stock valued at $4,702,223. 0.49% of the stock is currently owned by corporate insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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