Wallace Advisory Group LLC Sells 42 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Wallace Advisory Group LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the medical research company’s stock after selling 42 shares during the period. Thermo Fisher Scientific accounts for about 1.1% of Wallace Advisory Group LLC’s portfolio, making the stock its 18th biggest position. Wallace Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $25,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth $29,000. Finally, Ameriflex Group Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter worth $30,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Raymond James restated an “outperform” rating and set a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $607.43.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. The trade was a 25.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,075 shares of company stock worth $7,305,942. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.3%

Shares of NYSE:TMO opened at $402.41 on Friday. The business’s 50-day moving average is $430.85 and its 200-day moving average is $499.77. The company has a market capitalization of $151.91 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 2.99 and a beta of 0.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the previous year, the company earned $5.11 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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