Alteri Wealth LLC Acquires Shares of 689 Thermo Fisher Scientific Inc. (NYSE:TMO)

Alteri Wealth LLC purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 689 shares of the medical research company’s stock, valued at approximately $358,000.

A number of other hedge funds have also modified their holdings of the stock. Principal Financial Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock valued at $771,876,000 after buying an additional 225,568 shares during the last quarter. Virtu Financial LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $638,000. Franklin Resources Inc. increased its stake in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after purchasing an additional 10,606 shares during the last quarter. Finally, Kings Path Partners LLC boosted its holdings in Thermo Fisher Scientific by 13.1% in the fourth quarter. Kings Path Partners LLC now owns 2,637 shares of the medical research company’s stock worth $1,372,000 after purchasing an additional 306 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,200 shares of company stock worth $13,235,041 over the last ninety days. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. StockNews.com downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Evercore ISI lowered their price target on 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. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $607.43.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $423.69 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $409.85 and a twelve month high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market cap of $159.94 billion, a P/E ratio of 25.63, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The firm’s 50-day simple moving average is $476.15 and its 200-day simple moving average is $521.16.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.11 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were given a dividend of $0.43 per share. The ex-dividend date was Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

Thermo Fisher Scientific Profile

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.