Advisors Capital Management LLC Has $64.61 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Advisors Capital Management LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 111,169 shares of the medical research company’s stock after purchasing an additional 6,089 shares during the period. Thermo Fisher Scientific comprises approximately 1.2% of Advisors Capital Management LLC’s investment portfolio, making the stock its 13th biggest holding. Advisors Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $64,613,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Integrated Wealth Concepts LLC lifted its stake in Thermo Fisher Scientific by 2.1% in the third quarter. Integrated Wealth Concepts LLC now owns 5,344 shares of the medical research company’s stock valued at $2,705,000 after acquiring an additional 109 shares during the last quarter. Brown Shipley& Co Ltd raised its stake in Thermo Fisher Scientific by 9.3% in the third quarter. Brown Shipley& Co Ltd now owns 13,506 shares of the medical research company’s stock valued at $6,836,000 after buying an additional 1,152 shares during the period. Comerica Bank lifted its position in shares of Thermo Fisher Scientific by 192.4% in the third quarter. Comerica Bank now owns 114,663 shares of the medical research company’s stock valued at $58,039,000 after buying an additional 75,448 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 1,110.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 17,526 shares of the medical research company’s stock worth $8,871,000 after acquiring an additional 16,078 shares during the last quarter. Finally, Trust Co. of Vermont raised its stake in Thermo Fisher Scientific by 5.0% in the 3rd quarter. Trust Co. of Vermont now owns 37,634 shares of the medical research company’s stock valued at $19,049,000 after acquiring an additional 1,796 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $5.67 on Thursday, reaching $542.54. The company had a trading volume of 1,402,436 shares, compared to its average volume of 1,541,105. The stock has a market capitalization of $207.10 billion, a PE ratio of 34.80, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average is $568.75 and its 200 day moving average is $563.67. 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 posted 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 for the quarter, compared to analysts’ expectations of $10.14 billion. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,873,516.56. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, SVP Michael A. Boxer sold 2,000 shares of the business’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 transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,430,359.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock worth $12,532,780 in the last quarter. 0.34% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TMO shares. HSBC increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Robert W. Baird decreased their target price on 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. Deutsche Bank Aktiengesellschaft lifted their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Barclays lowered their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday, June 28th. Finally, Citigroup started coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $606.47.

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.