Connecticut Wealth Management LLC Buys 816 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Connecticut Wealth Management LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,788 shares of the medical research company’s stock after acquiring an additional 816 shares during the period. Connecticut Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $2,541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Strategic Investment Advisors MI raised its stake in shares of Thermo Fisher Scientific by 6.5% during the third quarter. Strategic Investment Advisors MI now owns 1,417 shares of the medical research company’s stock worth $717,000 after buying an additional 87 shares during the last quarter. Apexium Financial LP grew its position in Thermo Fisher Scientific by 3.3% in the third quarter. Apexium Financial LP now owns 754 shares of the medical research company’s stock valued at $382,000 after purchasing an additional 24 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Thermo Fisher Scientific in the third quarter valued at $181,000. Means Investment CO. Inc. grew its position in shares of Thermo Fisher Scientific by 7.5% in the 3rd quarter. Means Investment CO. Inc. now owns 858 shares of the medical research company’s stock valued at $435,000 after acquiring an additional 60 shares during the period. Finally, Groesbeck Investment Management Corp NJ grew its position in shares of Thermo Fisher Scientific by 2.7% in the 3rd quarter. Groesbeck Investment Management Corp NJ now owns 3,762 shares of the medical research company’s stock valued at $1,904,000 after acquiring an additional 100 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, Director Debora L. Spar sold 164 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares in the company, valued at $660,192.79. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,277 shares of company stock valued at $35,373,364. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

TMO stock traded up $1.13 during mid-day 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. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. The firm has a market capitalization of $218.48 billion, a P/E ratio of 36.71, a P/E/G ratio of 2.37 and a beta of 0.80. The firm has a fifty day simple moving average of $575.39 and a 200 day simple moving average of $532.82.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.64 EPS for the current 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 issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TMO. Evercore ISI lifted their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. HSBC raised their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, The Goldman Sachs Group raised their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.35.

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.