Lake Street Advisors Group LLC Buys 2,071 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lake Street Advisors Group LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 105.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 4,042 shares of the medical research company’s stock after purchasing an additional 2,071 shares during the period. Lake Street Advisors Group LLC’s holdings in Thermo Fisher Scientific were worth $2,351,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TMO. Northwest Financial Advisors acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. True Wealth Design LLC raised its holdings in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $31,000. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $32,000. Finally, Pineridge Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TMO. Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Barclays dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Deutsche Bank Aktiengesellschaft increased their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group increased their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $605.63.

Thermo Fisher Scientific Trading Up 4.1 %

TMO traded up $22.55 during mid-day trading on Wednesday, reaching $574.79. The stock had a trading volume of 2,856,171 shares, compared to its average volume of 1,541,702. The stock has a market capitalization of $219.41 billion, a P/E ratio of 36.87, a P/E/G ratio of 2.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The firm’s fifty day simple moving average is $562.82 and its two-hundred day simple moving average is $564.99. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.63 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of 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 SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, June 3rd. The stock was 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 directly owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The stock was 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 $7,430,359.02. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock valued at $12,532,780 over the last three months. Company insiders own 0.34% of the company’s stock.

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.