Salem Investment Counselors Inc. Has $9.92 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Salem Investment Counselors Inc. increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,060 shares of the medical research company’s stock after purchasing an additional 1,996 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Thermo Fisher Scientific were worth $9,922,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. WCM Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. WCM Investment Management LLC now owns 989,837 shares of the medical research company’s stock worth $527,524,000 after buying an additional 2,928 shares during the last quarter. Summa Corp. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $418,000. Phoenix Holdings Ltd. grew its holdings in Thermo Fisher Scientific by 21.4% during the 3rd quarter. Phoenix Holdings Ltd. now owns 9,366 shares of the medical research company’s stock worth $4,750,000 after acquiring an additional 1,654 shares during the last quarter. S. R. Schill & Associates grew its holdings in Thermo Fisher Scientific by 106.3% during the 4th quarter. S. R. Schill & Associates now owns 1,537 shares of the medical research company’s stock worth $816,000 after acquiring an additional 792 shares during the last quarter. Finally, Tsfg LLC grew its holdings in Thermo Fisher Scientific by 8.3% during the 4th quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO traded up $7.39 during trading on Friday, hitting $564.60. 3,198,558 shares of the company traded hands, compared to its average volume of 1,312,750. The firm has a market cap of $215.52 billion, a P/E ratio of 36.22, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. The stock’s fifty day moving average is $574.09 and its 200 day moving average is $560.85. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $10.14 billion. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. 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, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock valued at $12,532,780 over the last three months. 0.34% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on TMO. Evercore ISI boosted their target price on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Jefferies Financial Group restated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Barclays boosted their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 25th. HSBC boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Robert W. Baird dropped their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $607.94.

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.