Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lifted by Confluence Wealth Services Inc.

Confluence Wealth Services Inc. lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 71.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,518 shares of the medical research company’s stock after buying an additional 1,882 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Thermo Fisher Scientific were worth $2,248,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $25,000. Pillar Financial Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $30,000. Noble Wealth Management PBC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $35,000. Finally, Cassady Schiller Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 89.2% in the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company’s stock worth $36,000 after buying an additional 33 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Down 1.1%

Shares of TMO stock opened at $407.67 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The stock has a market cap of $153.89 billion, a price-to-earnings ratio of 23.91, a P/E/G ratio of 2.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The firm has a fifty day moving average of $409.74 and a 200-day moving average of $483.58.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 net margin of 15.19% and a return on equity of 17.15%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $5.11 EPS. On average, equities 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.09%.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, Citigroup cut their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research note on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $604.05.

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.